Risk Attitudes, Sample Selection and Attrition in a Longitudinal Field Experiment

Glenn W. Harrison, Morten Lau, Hong Il Yoo

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Abstrakt

We evaluate the temporal stability of risk preferences using a remarkable data set that combines socio-demographic information from the Danish Civil Registry with information on risk attitudes from a longitudinal field experiment. Our econometric model accounts for endogenous sample selection and attrition processes that may confound inferences about temporal stability. Our experimental design builds in randomization on the incentives for participation that facilitates empirical identification of the model. In general, we find evidence consistent with temporal stability after correcting for the effects of selection and attrition. When neglected, these effects change our inferences in an economically and statistically significant manner.
OriginalsprogEngelsk
TidsskriftThe Review of Economics and Statistics
Vol/bind102
Udgave nummer3
Sider (fra-til)552-568
Antal sider17
ISSN0034-6535
DOI
StatusUdgivet - jul. 2020

Bibliografisk note

Published online: 26. June 2019

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