Risk Aversion at the Country Level
Submitted by admin on 10 March 2014 - 4:13pm
Produced by:
Universidad ORT
Available from:
Febrero 2014
Topic:
Financial Economics
Year:
2014
In this paper we provide estimates of relative risk aversion for 80 countries using data on self-reports of personal well-being from the Gallup World Poll. For most countries we cannot reject the null hypothesis that the coefficient of relative risk aversion equals 1. This result supports the use of the log utility function in numerical simulations.
Research section:
Latest Research