Within- versus between-country differences in risk attitudes: implications for cultural comparisons

Cultural comparisons enjoy increasing popularity in economics. Since cultural comparison must abandon random allocation to treatments, it is unclear whether differences found between countries can be attributed to country characteristics or are merely driven by differences in subject pools. In exper...

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Published in:Theory and decision 2015-02, Vol.78 (2), p.209-218
Main Authors: Vieider, Ferdinand M., Chmura, Thorsten, Fisher, Tyler, Kusakawa, Takao, Martinsson, Peter, Mattison Thompson, Frauke, Sunday, Adewara
Format: Article
Language:English
Subjects:
18th century
Abandonment
Allocations
Analysis
Attitudes
Behavioral/Experimental Economics
China
CHOICE
Cities
College campuses
Colleges & universities
Crosscultural Differences
Cultural attitudes
Cultural comparison
Cultural differences
Culture
Decision making
Decision theory
Economic theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Business
Economics and Finance
Ekonomi och näringsliv
Ethiopia
Experimental economics
Experimental methods
Experiments
Finance
Game Theory
Insurance
Management
Mathematical Methods
Operations Research/Decision Theory
Pools
Popularity
PROSPECT-THEORY
Research methodology
Risk
Risk attitudes
Risk theory
Social and Behav. Sciences
Social Sciences
Statistics for Business
Studies
Treatment Methods
UNCERTAINTY
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creator Vieider, Ferdinand M.
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description Cultural comparisons enjoy increasing popularity in economics. Since cultural comparison must abandon random allocation to treatments, it is unclear whether differences found between countries can be attributed to country characteristics or are merely driven by differences in subject pools. In experiments in two Chinese cities and at two campuses in Ethiopia, we show that within-country differences are negligible. Differences between the two countries, on the other hand, are large.
doi_str_mv 10.1007/s11238-014-9418-3
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Since cultural comparison must abandon random allocation to treatments, it is unclear whether differences found between countries can be attributed to country characteristics or are merely driven by differences in subject pools. In experiments in two Chinese cities and at two campuses in Ethiopia, we show that within-country differences are negligible. Differences between the two countries, on the other hand, are large.</description><identifier>ISSN: 0040-5833</identifier><identifier>EISSN: 1573-7187</identifier><identifier>DOI: 10.1007/s11238-014-9418-3</identifier><identifier>CODEN: THDCBA</identifier><language>eng</language><publisher>Boston: Springer US</publisher><subject>18th century ; Abandonment ; Allocations ; Analysis ; Attitudes ; Behavioral/Experimental Economics ; China ; CHOICE ; Cities ; College campuses ; Colleges &amp; universities ; Crosscultural Differences ; Cultural attitudes ; Cultural comparison ; Cultural differences ; Culture ; Decision making ; Decision theory ; Economic theory ; Economic Theory/Quantitative Economics/Mathematical Methods ; Economics ; Economics and Business ; Economics and Finance ; Ekonomi och näringsliv ; Ethiopia ; Experimental economics ; Experimental methods ; Experiments ; Finance ; Game Theory ; Insurance ; Management ; Mathematical Methods ; Operations Research/Decision Theory ; Pools ; Popularity ; PROSPECT-THEORY ; Research methodology ; Risk ; Risk attitudes ; Risk theory ; Social and Behav. 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source EconLit s plnými texty; International Bibliography of the Social Sciences (IBSS); Art, Design & Architecture Collection (Proquest) (PQ_SDU_P3); Social Science Premium Collection; ABI/INFORM Global; Springer Nature; Sociological Abstracts
subjects 18th century
Abandonment
Allocations
Analysis
Attitudes
Behavioral/Experimental Economics
China
CHOICE
Cities
College campuses
Colleges & universities
Crosscultural Differences
Cultural attitudes
Cultural comparison
Cultural differences
Culture
Decision making
Decision theory
Economic theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Business
Economics and Finance
Ekonomi och näringsliv
Ethiopia
Experimental economics
Experimental methods
Experiments
Finance
Game Theory
Insurance
Management
Mathematical Methods
Operations Research/Decision Theory
Pools
Popularity
PROSPECT-THEORY
Research methodology
Risk
Risk attitudes
Risk theory
Social and Behav. Sciences
Social Sciences
Statistics for Business
Studies
Treatment Methods
UNCERTAINTY
title Within- versus between-country differences in risk attitudes: implications for cultural comparisons
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