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Provedor de dados:  AgEcon
País:  United States
Título:  NATURAL HAZARDS AND RISK AVERSION: EXPERIMENTAL EVIDENCE FROM LATIN AMERICA
Autores:  van den Berg, Marrit
Fort, Ricardo
Burger, Kees
Data:  2009-06-19
Ano:  2009
Palavras-chave:  Latin America
Nicaragua
Peru
Risk aversion
Natural hazards
Experiments
Environmental Economics and Policy
Institutional and Behavioral Economics
Risk and Uncertainty
Resumo:  We use experimental and survey data from two natural-hazard prone countries in Latin America to test the hypothesis that natural hazards affect risk aversion. We use two methods to measure risk aversion: simple questions on the willingness to pay for a hypothetical lottery and more complicated experiments involving real pay-offs. We find that whereas the experiments provide reasonable estimates of risk aversion, the hypothetical questions result in unrealistic distributions of preferences. The experimental results strongly support the hypothesis that experiencing natural shocks makes people more risk averse, not only in the short run but also in the medium and long run.
Tipo:  Conference Paper or Presentation
Idioma:  Inglês
Identificador:  http://purl.umn.edu/51394
Relação:  International Association of Agricultural Economists>2009 Conference, August 16-22, 2009, Beijing, China
Contributed Paper
324
Formato:  34
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