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dc.contributor.authorChiappori, Pierre-Andre
dc.contributor.authorSamphantharak, Krislert
dc.contributor.authorSchulhofer-Wohl, Sam
dc.contributor.authorTownsend, Robert
dc.date.accessioned2015-03-25T15:10:11Z
dc.date.available2015-03-25T15:10:11Z
dc.date.issued2014-03
dc.date.submitted2013-06
dc.identifier.issn17597323
dc.identifier.issn1759-7331
dc.identifier.urihttp://hdl.handle.net/1721.1/96171
dc.description.abstractWe show how to use panel data on household consumption to directly estimate households' risk preferences. Specifically, we measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model, which we then test allowing for this heterogeneity. There is substantial, statistically significant heterogeneity in estimated risk preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk preferences are unrelated to wealth or other characteristics. The heterogeneity matters for policy: Although the average household would benefit from eliminating village-level risk, less-risk-averse households that are paid to absorb that risk would be worse off by several percent of household consumption.en_US
dc.language.isoen_US
dc.publisherThe Econometric Societyen_US
dc.relation.isversionofhttp://dx.doi.org/10.3982/qe131en_US
dc.rightsCreative Commons Attribution-Noncommercial-Share Alikeen_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/4.0/en_US
dc.sourceMIT web domainen_US
dc.titleHeterogeneity and risk sharing in village economiesen_US
dc.typeArticleen_US
dc.identifier.citationChiappori, Pierre-André, Krislert Samphantharak, Sam Schulhofer-Wohl, and Robert M. Townsend. “Heterogeneity and Risk Sharing in Village Economies.” Quantitative Economics 5, no. 1 (March 2014): 1–27.en_US
dc.contributor.departmentMassachusetts Institute of Technology. Department of Economicsen_US
dc.contributor.mitauthorTownsend, Roberten_US
dc.relation.journalQuantitative Economicsen_US
dc.eprint.versionAuthor's final manuscripten_US
dc.type.urihttp://purl.org/eprint/type/JournalArticleen_US
eprint.statushttp://purl.org/eprint/status/PeerRevieweden_US
dspace.orderedauthorsChiappori, Pierre-André; Samphantharak, Krislert; Schulhofer-Wohl, Sam; Townsend, Robert M.en_US
dc.identifier.orcidhttps://orcid.org/0000-0002-1528-8102
mit.licenseOPEN_ACCESS_POLICYen_US
mit.metadata.statusComplete


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