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Imputing Risk Tolerance from Survey Responses

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NBER2007-08-01 更新2025-01-04 收录
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Economic theory assigns a central role to risk preferences. This paper develops a measure of relative risk tolerance using responses to hypothetical income gambles in the Health and Retirement Study. In contrast to most survey measures that produce an ordinal metric, this paper shows how to

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2007-08-01
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