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

Glenn W. Harrison, Morten Lau, Hong Il Yoo

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

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.
Original languageEnglish
JournalThe Review of Economics and Statistics
Number of pages45
ISSN0034-6535
DOIs
Publication statusPublished - 26 Jun 2019

Bibliographical note

Epub ahead of print. Published online: 26. June 2019

Cite this

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Risk Attitudes, Sample Selection and Attrition in a Longitudinal Field Experiment. / Harrison, Glenn W.; Lau, Morten; Yoo, Hong Il.

In: The Review of Economics and Statistics, 26.06.2019.

Research output: Contribution to journalJournal articleResearchpeer-review

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