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
Permalink -

https://repository.mdx.ac.uk/item/85525

Log in to edit

Download files

Publisher's version
AER paper.pdf

  • 72
    total views
  • 71
    total downloads
  • 4
    views this month
  • 4
    downloads this month

Export as

Related outputs

Linking top managers' behavioural traits with business practices and firm performance
Kim, H. and Nguyen, Q. 2023. Linking top managers' behavioural traits with business practices and firm performance. Review of Managerial Science. https://doi.org/10.1007/s11846-023-00714-0
Demystifying the role of information provision in travellers’ satisfaction: Insights from a randomized controlled trial
Nguyen, Q. and Chang, S. 2023. Demystifying the role of information provision in travellers’ satisfaction: Insights from a randomized controlled trial. Journal of Quality Assurance in Hospitality and Tourism. 25 (6), pp. 1827-1852. https://doi.org/10.1080/1528008X.2023.2201695
An exploration on the nexus between managers’ present bias and corporate investment
Kim, H. and Nguyen, Q. 2022. An exploration on the nexus between managers’ present bias and corporate investment. Applied Economics Letters. 29 (2), pp. 150-154. https://doi.org/10.1080/13504851.2020.1861186
Non-financial firms hedging risks in East Asia: the link between financial derivatives use, firm value and exposures to country risks
Kim, T. and Nguyen, Q. 2020. Non-financial firms hedging risks in East Asia: the link between financial derivatives use, firm value and exposures to country risks. in: Goutte, S. and Nguyen, D. (ed.) Handbook of Energy Finance: Theories, Practices and Simulations World Scientific. pp. 595-650
Are time preference and risk preference associated with cognitive intelligence and emotional intelligence?
Ackert, L., Deaves, R., Miele, J. and Nguyen, Q. 2020. Are time preference and risk preference associated with cognitive intelligence and emotional intelligence? Journal of Behavioral Finance. 21 (2), pp. 136-156. https://doi.org/10.1080/15427560.2019.1663850
Promoting adoption of management practices from the outside: insights from a randomized field experiment
Nguyen, Q. and Kim, T. 2019. Promoting adoption of management practices from the outside: insights from a randomized field experiment. Journal of Operations Management. 65 (1), pp. 48-61. https://doi.org/10.1016/j.jom.2018.11.001
Policy uncertainty, derivatives use, and firm-level FDI
Nguyen, Q., Kim, T. and Papanastassiou, M. 2018. Policy uncertainty, derivatives use, and firm-level FDI. Journal of International Business Studies. 49 (1), pp. 96-126. https://doi.org/10.1057/s41267-017-0090-z
Do natural disasters open a window of opportunity for corruption?
Nguyen, Q. 2017. Do natural disasters open a window of opportunity for corruption? The Journal of Development Studies. 53 (1), pp. 156-172. https://doi.org/10.1080/00220388.2016.1187724
Risk and time preferences: linking experimental and household survey data from Vietnam
Tanaka, T., Camerer, C. and Nguyen, Q. 2016. Risk and time preferences: linking experimental and household survey data from Vietnam. in: Ikeda, S., Kato, H., Ohtake, F. and Tsutsui, Y. (ed.) Behavioral Economics of Preferences, Choices, and Happiness Springer, Tokyo. pp. 3-25
Trust under the prospect theory and quasi-hyperbolic preferences: a field experiment in Vietnam
Nguyen, Q., Villeval, M. and Xu, H. 2016. Trust under the prospect theory and quasi-hyperbolic preferences: a field experiment in Vietnam. Economic Development and Cultural Change. 64 (3), pp. 545-572. https://doi.org/10.1086/685434
Linking loss aversion and present bias with overspending behaviour of tourists: insights from a lab-in-the-field experiment
Nguyen, Q. 2016. Linking loss aversion and present bias with overspending behaviour of tourists: insights from a lab-in-the-field experiment. Tourism Management. 54, pp. 152-159. https://doi.org/10.1016/j.tourman.2015.09.019
Revenue targeting in fisheries
Nguyen, Q. and Leung, P. 2013. Revenue targeting in fisheries. Environment and Development Economics. 18 (5), pp. 559-575. https://doi.org/10.1017/S1355770X13000144
Does nurture matter: theory and experimental investigation on the effect of working environment on risk and time preferences
Nguyen, Q. 2011. Does nurture matter: theory and experimental investigation on the effect of working environment on risk and time preferences. Journal of Risk and Uncertainty. 43 (3), pp. 245-270. https://doi.org/10.1007/s11166-011-9130-4
Do fishermen have different attitudes toward risk? An application of prospect theory to the study of Vietnamese fishermen
Nguyen, Q. and Leung, P. 2009. Do fishermen have different attitudes toward risk? An application of prospect theory to the study of Vietnamese fishermen. Journal of Agricultural and Resource Economics. 34 (3), pp. 518-538.
Choice of remuneration regime in fisheries: the case of Hawaii’s longline fisheries
Nguyen, Q. and Leung, P. 2009. Choice of remuneration regime in fisheries: the case of Hawaii’s longline fisheries. Journal of Agricultural and Resource Economics. 34 (3), pp. 498-517.