Replication data for: Are Risk Preferences Stable across Contexts? Evidence from Insurance Data
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Using a unique dataset, we test whether households' deductible choices in auto and home insurance reflect stable risk preferences. Our test relies on a structural model that assumes households are objective expected utility maximizers and claims are generated by household-coverage specific Poisson processes. We find that the hypothesis of stable risk preferences is rejected by the data. Our
analysis suggests that many households exhibit greater risk aversion in their home deductible choices than their auto deductible choices. Our results are robust to several alternative modeling assumptions. (JEL D11, D83)
本研究采用一组独特的数据集，检验家庭在汽车保险与房屋保险中的免赔额选择是否体现出稳定的风险偏好。我们的检验基于一项结构化模型，该模型假定家庭为客观期望效用最大化者，且索赔由对应于特定家庭-保险险种的泊松过程所生成。研究结果表明，数据拒绝了风险偏好稳定这一假说。进一步分析显示，相较于汽车保险的免赔额选择，多数家庭在房屋保险的免赔额选择中展现出更高的风险厌恶水平。本研究的结论在多项替代性建模假设下均保持稳健。（JEL D11, D83）
