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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Risk preferences around the world |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Management Science |
| Publisher | Institute for Operations Research and the Management Science |
| Geographical Reach | international |
| ISSN | 0025-1909 |
| Volume | 61 |
| Number | 3 |
| Page Range | 637 - 648 |
| Date | 2015 |
| Abstract Text | We present results from a large-scale international survey on risk preferences conducted in 53 countries. In all countries, we find, on average, an attitude of risk aversion in gains and of risk seeking in losses. The degree of risk aversion shows significant cross-country differences. Moreover, risk attitudes in our sample depend not only on economic conditions but also on cultural factors, as measured by the Hofstede dimensions individualism and uncertainty avoidance. The data may also serve as an interesting starting point for further research on cultural differences in behavioral economics. |
| Related URLs | |
| Digital Object Identifier | 10.1287/mnsc.2013.1869 |
| Other Identification Number | merlin-id:9640 |
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