Does nurture matter: theory and experimental investigation on the effect of working environment on risk and time preferences
Article
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
Type | Article |
---|---|
Title | Does nurture matter: theory and experimental investigation on the effect of working environment on risk and time preferences |
Authors | Nguyen, Q. |
Abstract | Building upon the reference dependent preferences model, we develop a theoretical framework to examine the relationship between environment and preferences. To verify the model’s prediction, we use a combined artefactual field experiment and household survey data in Vietnam to investigate whether involvement is risky and has long-run targeted benefits, thereby causing fishermen to exhibit different risk and time preferences than workers in other occupations. Using a structural model approach, we integrate prospect theory and hyperbolic time discounting into a single framework, to simultaneously estimate and correlate the parameters of both risk and time preferences with other demographic variables. The key finding that fishermen are found to be less risk-averse and more patient than others asserts the theoretical prediction about the influence of the working environment on preferences. |
Publisher | Springer |
Journal | Journal of Risk and Uncertainty |
ISSN | 0895-5646 |
Electronic | 1573-0476 |
Publication dates | |
Online | 10 Nov 2011 |
Nov 2011 | |
Publication process dates | |
Deposited | 14 May 2015 |
Output status | Published |
Accepted author manuscript | |
Copyright Statement | This version of the article has been accepted for publication, after peer review (when applicable) and is subject to Springer Nature’s AM terms of use (https://www.springernature.com/gp/open-research/policies/accepted-ma...), but is not the Version of Record and does not reflect post-acceptance improvements, or any corrections. The Version of Record is available online at: http://dx.doi.org/10.1007/s11166-011-9130-4 |
Web address (URL) | https://link.springer.com/article/10.1007/s11166-011-9130-4 |
Digital Object Identifier (DOI) | https://doi.org/10.1007/s11166-011-9130-4 |
Language | English |
https://repository.mdx.ac.uk/item/85542
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