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How general are risk preferences? Choices under uncertainty in different domains

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Show simple item record Einav, Liran Finkelstein, Amy Pascu, Iuliana Cullen, Mark R. 2012-10-04T20:40:30Z 2012-10-04T20:40:30Z 2012-10
dc.identifier.issn 1944-7981
dc.identifier.issn 0002-8282
dc.description.abstract We analyze the extent to which individuals' choices over five employer-provided insurance coverage decisions and one 401(k) investment decision exhibit systematic patterns, as would be implied by a general utility component of risk preferences. We provide evidence consistent with an important domain-general component that operates across all insurance choices. We find a considerably weaker relationship between one's insurance decisions and 401(k) asset allocation, although this relationship appears larger for more "financially sophisticated" individuals. Estimates from a stylized coverage choice model suggest that up to 30 percent of our sample makes choices that may be consistent across all 6 domains. en_US
dc.description.sponsorship United States. Social Security Administration (grant #10-M-98363-1-02) en_US
dc.description.sponsorship National Institute on Aging (NIA (R01 AG032449) en_US
dc.description.sponsorship National Science Foundation (U.S.) (grant #SES-0643037) en_US
dc.description.sponsorship Alfred P. Sloan Foundation en_US
dc.description.sponsorship Aluminum Company of America en_US
dc.description.sponsorship John D. and Catherine T. MacArthur Foundation (Network on Socioeconomic Status and Health) en_US
dc.language.iso en_US
dc.publisher American Economic Association en_US
dc.relation.isversionof en_US
dc.rights Creative Commons Attribution-Noncommercial-Share Alike 3.0 en_US
dc.rights.uri en_US
dc.source MIT web domain en_US
dc.title How general are risk preferences? Choices under uncertainty in different domains en_US
dc.type Article en_US
dc.identifier.citation Einav, Liran et al. “How General Are Risk Preferences? Choices Under Uncertainty in Different Domains.” American Economic Review 102.6 (2012): 2606–2638. Web. en_US
dc.contributor.department Massachusetts Institute of Technology. Department of Economics en_US
dc.contributor.approver Finkelstein, Amy
dc.contributor.mitauthor Finkelstein, Amy
dc.contributor.mitauthor Pascu, Iuliana
dc.relation.journal American Economic Review en_US
dc.identifier.mitlicense OPEN_ACCESS_POLICY en_US
dc.eprint.version Author's final manuscript en_US
dc.type.uri en_US
dspace.orderedauthors Einav, Liran; Finkelstein, Amy; Pascu, Iuliana; Cullen, Mark R en

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