Risk Incomprehension and Its Economic Consequences
MetadataShow full item record
© 2016 Informa UK Limited, trading as Taylor & Francis Group.Almost all theoretical and empirical studies implicitly assume that every economic agent understands the concept of risk. We exploited a unique feature of the Indonesian Family Life Survey and argued that this assumption may not apply to the developing world. A third of working men failed to understand the concept of risk, and this incomprehension did not result from a mistake or a preference for simple answers. Moreover, after applying OLS, we found that relative to risk comprehensive men, risk incomprehensive men earned 11.9 per cent less and possessed household assets worth 9.8 per cent less.
Showing items related by title, author, creator and subject.
The utility of the STarT back screening tool in a population with chronic low back pain: A prospective studyKendell, Michelle (2016)Study design: Cross sectional (Study 1) and prospective (Study 2). Background: Chronic low back pain (LBP) is problematic with significant personal, social, and economic impact. The need to screen for indicators of poor ...
Goh, Louise; Dhaliwal, Satvinder; Wellborn, T.; Thompson, P.; Maycock, Bruce; Kerr, Deborah; Lee, Andy; Bertolatti, Dean; Slivkoff-Clark, Karin; Naheed, R; Coorey, Ranil; Della, Phillip (2014)Purpose: Although elevated cardiovascular disease (CVD) risk factors are associated with a higher risk of developing heart conditions across all ethnic groups, variations exist between groups in the distribution and ...
An exploration of the cognitive mechanism underlying general risk-aversion in obsessive-compulsive disorder : the construction and validation of the multi-dimensional risk-assessment scaleGarratt-Reed, David (2012)Individuals with OCD avoid minor risks that are unrelated to their obsessive fears and this general risk-aversion is implicated in treatment failure and relapse. However, a lack of understanding of the cognitive biases ...