Scholarlink

<p>We analyze a unique longitudinal dataset of university students to investigate the stability of risk preferences over a five-year period. Our findings indicate that subjects’ risk tolerance, as measured by incentivized lottery choices, tends to increase over time, while it moves in the opposite direction when assessed through a non-incentivized survey question. Furthermore, we exploit the COVID-19 pandemic to explore the impact of negative experiences and emotions on the temporal changes in subjects’ risk preferences. Our analysis reveals that, within the same group of respondents, the risk tolerance elicited by the incentivized measure proves to be more stable, whereas the survey measure exhibits greater sensitivity, declining in response to negative shocks. These results enhance our understanding of how risk preferences evolve over time and emphasize the importance of employing appropriate measurement methods when investigating risk attitudes.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

The evolution of risk attitudes: A panel study of the university years

  • 期刊论文

  • 出版模式：

    开放获取

  • 发表日期：

    2025年6月16日

查看全文
  • Catherine Eckel,
  • Rick Wilson,
  • Nanyin Yang

摘要

We analyze a unique longitudinal dataset of university students to investigate the stability of risk preferences over a five-year period. Our findings indicate that subjects’ risk tolerance, as measured by incentivized lottery choices, tends to increase over time, while it moves in the opposite direction when assessed through a non-incentivized survey question. Furthermore, we exploit the COVID-19 pandemic to explore the impact of negative experiences and emotions on the temporal changes in subjects’ risk preferences. Our analysis reveals that, within the same group of respondents, the risk tolerance elicited by the incentivized measure proves to be more stable, whereas the survey measure exhibits greater sensitivity, declining in response to negative shocks. These results enhance our understanding of how risk preferences evolve over time and emphasize the importance of employing appropriate measurement methods when investigating risk attitudes.