Risk Incomprehension and Its Economic Consequences

Journal of Development Studies

Volumn 52, Issue 11, 2016, Pages 1545-1560

  Sohn, Kitae ^a  

^a Konkuk University   (South Korea)

Author keywords

[No Author keywords available]

Indexed keywords

DEVELOPING WORLD; RISK ASSESSMENT;

INDONESIA;

EID: 84969264850     PISSN: 00220388     EISSN: 17439140     Source Type: Journal    
DOI: 10.1080/00220388.2016.1166208     Document Type: Article

References (43)

1. D.Ariely, (2010). Predictably irrational (Revised and Expanded ed.). New York:HarperCollins.
2. K.J.Arrow, (1965). Aspects of the theory of risk-bearing. Helsinki:Academic Bookstores.
3. R.B.Barsky, F.T.Juster, M.S.Kimball, & M.D.Shapiro, (1997). Preference parameters and behavioral heterogeneity:An experimental approach in the health and retirement study. Quarterly Journal of Economics, 112(2), 537–579. doi:10.1162/003355397555280
4. H.P.Binswanger, (1980). Attitudes toward risk:Experimental measurement in rural India. American Journal of Agricultural Economics, 62(3), 395–407. doi:10.2307/1240194
5. A.Case, & C.Paxson, (2009). Early life health and cognitive function in old age. American Economic Review, 99(2), 104–109. doi:10.1257/aer.99.2.104
6. R.Chetty, (2006). A new method of estimating risk aversion. American Economic Review, 96(5), 1821–1834. doi:10.1257/aer.96.5.1821
7. C.Dave, C.C.Eckel, C.A.Johnson, & C.Rojas, (2010). Eliciting risk preferences:When is simple better? Journal of Risk and Uncertainty, 41(3), 219–243. doi:10.1007/s11166-010-9103-z
8. T.Dohmen, A.Falk, D.Huffman, U.Sunde, J.Schupp, & G.G.Wagner, (2011). Individual risk attitudes:Measurement, determinants, and behavioral consequences. Journal of the European Economic Association, 9(3), 522–550. doi:10.1111/jeea.2011.9.issue-3
9. C.R.Fox, & A.Tversky, (1995). Ambiguity aversion and comparative ignorance. Quarterly Journal of Economics, 110(3), 585–603. doi:10.2307/2946693
10. E.Frankenberg, & N.R.Jones, (2004). Self-rated health and mortality:Does the relationship extend to a low income setting? Journal of Health and Social Behavior, 45(4), 441–452. doi:10.1177/002214650404500406
11. L.Guiso, & M.Paiella, (2008). Risk aversion, wealth, and background risk. Journal of the European Economic Association, 6(6), 1109–1150. doi:10.1162/jeea.2008.6.issue-6
12. L.Guiso, P.Sapienza, & L.Zingales, (2006). Does culture affect economic outcomes? Journal of Economic Perspectives, 20(2), 23–48. doi:10.1257/jep.20.2.23
13. G.W.Harrison, E.Johnson, M.M.McInnes, & E.E.Rutström, (2005). Risk aversion and incentive effects:Comment. American Economic Review, 95(3), 897–901. doi:10.1257/0002828054201378
14. C.A.Holt, & S.K.Laury, (2002). Risk aversion and incentive effects. American Economic Review, 92(5), 1644–1655. doi:10.1257/000282802762024700
15. D.Kahneman, & A.Tversky, (1979). Prospect theory:An analysis of decision under risk. Econometrica, 47(2), 263–292. doi:10.2307/1914185
16. M.S.Kimball, C.R.Sahm, & M.D.Shapiro, (2009). Risk preferences in the PSID:Individual imputations and family covariation. American Economic Review, 99(2), 363–368. doi:10.1257/aer.99.2.363
17. O.S.Mitchell, & A.Lusardi, (Eds.). (2011). Financial literacy:Implications for retirement security and the financial marketplace. Oxford:Oxford University Press.
18. P.Mosley, & A.Verschoor, (2005). Risk attitudes and the ‘vicious circle of poverty’. European Journal of Development Research, 17(1), 59–88. doi:10.1080/09578810500066548
19. J.L.Ng, (2013). Essays on the empirics of risk and time preferences in Indonesia (Ph.D.). University of Southern California, Los Angeles, CA.
20. S.C.Parker, (2009). The economics of entrepreneurship. Cambridge:Cambridge University Press.
21. J.W.Pratt, (1964). Risk aversion in the small and in the large. Econometrica, 32(1/2), 122–136. doi:10.2307/1913738
22. M.Rabin, (2000). Risk aversion and expected-utility theory:A calibration theorem. Econometrica, 68(5), 1281–1292. doi:10.1111/ecta.2000.68.issue-5
23. M.R.Rosenzweig, & H.P.Binswanger, (1993). Wealth, weather risk and the composition and profitability of agricultural investments. TheEconomic Journal, 103(416), 56–78. doi:10.2307/2234337
24. K.Sohn, (2013). Monetary and nonmonetary returns to education in Indonesia. Developing Economies, 51(1), 34–59. doi:10.1111/deve.12001
25. K.Sohn, (2014a). Age and size at maturity in Indonesian women:A norm of reaction? American Journal of Human Biology, 26(5), 713–715. doi:10.1002/ajhb.22571
26. K.Sohn, (2014b). Job strenuousness and obesity:The case of a developing country. Journal of Development Studies, 50(9), 1289–1301. doi:10.1080/00220388.2014.925543
27. K.Sohn, (2014c). A note on the effects of education on youth smoking in a developing country. Journal of the Asia Pacific Economy, 19(1), 66–73. doi:10.1080/13547860.2013.803845
28. K.Sohn, (2014d). Sufficiently good measures of obesity:The case of a developing country. Journal of Biosocial Science, 46(6), 797–817. doi:10.1017/S0021932013000692
29. K.Sohn, (2015a). Gender discrimination in earnings in Indonesia:A fuller picture. Bulletin of Indonesian Economic Studies, 51(1), 95–121. doi:10.1080/00074918.2015.1016569
30. K.Sohn, (2015b). The height premium in Indonesia. Economics & Human Biology, 16, 1–15. doi:10.1016/j.ehb.2013.12.011
31. K.Sohn, (2015c). The influence of birth season on height:Evidence from Indonesia. American Journal of Physical Anthropology, 157(4), 659–665. doi:10.1002/ajpa.22763
32. K.Sohn, (2015d). Is leg length a biomarker of early life conditions? Evidence from a historically short population. American Journal of Human Biology, 27(4), 538–545. doi:10.1002/ajhb.22682
33. K.Sohn, (2015e). The value of male height in the marriage market. Economics & Human Biology, 18, 110–124. doi:10.1016/j.ehb.2015.05.004
34. K.Sohn, (2015f). The male-taller norm:Lack of evidence from a developing country. HOMO, 66(4), 369–378. doi:10.1016/j.jchb.2015.02.006
35. K.Sohn, (2015g). The effects of smoking on obesity:Evidence from Indonesian panel data. Tobacco Induced Diseases, 13, 39. doi:10.1186/s12971-015-0064-5
36. K.Sohn, (2016a). Height and happiness in a developing country. Journal of Happiness Studies. 17(1), 1–23. doi:10.1007/s10902-014-9566-8
37. K.Sohn, (2016b). Does a taller husband make his wife happier? Personality and Individual Differences. 91, 14–21. doi:10.1016/j.paid.2015.11.039
38. K.Sohn, (in press-a). Is age at menarche a good predictor of future body fat? The case of a developing country. Health Care for Women International. doi:10.1080/07399332.2015.1104314
39. K.Sohn, (in press-b). Now, the taller die earlier:The curse of cancer. Journals of Gerontology Series A:Biological Sciences and Medical Sciences. doi:10.1093/gerona/glv065
40. K.Sohn, (in press-c). Biological standards of living:Age at menarche vs. height. Annals of Human Biology. doi:10.3109/03014460.2016.1147596
41. K.Sohn, (in press-d). Sexual stature dimorphism as an indicator of living standards? Annals of Human Biology. doi:10.3109/03014460.2015.1115125
42. K.Sohn, & I.Kwon, (in press). Does trust promote entrepreneurship in a developing country? Singapore Economic Review. doi:10.1142/S0217590816500144
43. M.Yesuf, & R.A.Bluffstone, (2009). Poverty, risk aversion, and path dependence in low-income countries:Experimental evidence from Ethiopia. American Journal of Agricultural Economics, 91(4), 1022–1037. doi:10.1111/j.1467-8276.2009.01307.x