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2023 Annual Conference

del 16 al 18 de May del 2023

Palace Station Hotel & Casino, Las Vegas, NV, US

IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.

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H3d The Effects of Personal Relative Deprivation on Risk Preferences

jueves, el 18 de mayo de 2023 a las 13:00–14:30 PDT
Room 3
Short Description

Inequality at the societal level is a significant predictor of risk-taking behaviors. Psychology literature demonstrated a link between income inequality and increased risk taking in the domain of gambling urges and behavior. Income inequality is also related to a range of health and social outcomes involving greater risk, such as sexual promiscuity, substance abuse, and crime. Understanding individual consequences of inequality is important, given its implications for individual decision-making and well-being. In this study, we present empirical investigation of whether personal RD is associated with risk aversion and portfolio riskiness among Korean adults. Using multi-waves data drawn from the National Survey of Tax and Benefit, we estimate a series of regressions linking RD to risk aversion and portfolio riskiness. This study extends previous research by offering empirical evidence on the RD-risk preference link in a nationally representative sample. Examining both preference and family financial portfolio also allows us to offer a broader and more comprehensive picture of how financial risk preference responds to RD.

Type of presentation

Accepted Oral Presentation

Submitter

Tae-Young Pak, Sungkyunkwan University

Authors

Tae-Young Pak, Sungkyunkwan University
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