Risk and time preferences: linking experimental and household survey data from Vietnam

Article

Tanaka, T., Camerer, C. and Nguyen, Q. 2010. Risk and time preferences: linking experimental and household survey data from Vietnam. American Economic Review. 100 (1), pp. 557-571. https://doi.org/10.1257/aer.100.1.557
TypeArticle
TitleRisk and time preferences: linking experimental and household survey data from Vietnam
AuthorsTanaka, T., Camerer, C. and Nguyen, Q.
Abstract

We conducted experiments in Vietnamese villages to determine the predictors of risk and time preferences. In villages with higher mean income, people are less loss-averse and more patient. Household income is correlated with patience but not with risk. We expand measurements of risk and time preferences beyond expected utility and exponential discounting, replacing those models with prospect theory and a three-parameter hyperbolic discounting model. Comparable risk parameter estimates have been found for Chinese farmers, using our method.

Research GroupInternational Business group
JournalAmerican Economic Review
ISSN0002-8282
Publication dates
Print01 Mar 2010
Publication process dates
Deposited14 May 2015
Accepted01 Mar 2010
Output statusPublished
Publisher's version
Copyright Statement

Copyright American Economic Association; reproduced with permission.

Copyright & Permissions https://www.aeaweb.org/journals/policies/copyright

Digital Object Identifier (DOI)https://doi.org/10.1257/aer.100.1.557
LanguageEnglish
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