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dc.contributor.authorSohn, Kitae
dc.date.accessioned2017-04-04T02:46:56Z
dc.date.available2017-04-04T02:46:56Z
dc.date.created2017-04-03T10:56:20Z
dc.date.issued2016
dc.identifier.citationSohn, K. 2016. Risk Incomprehension and Its Economic Consequences. Journal of Development Studies. 52 (11): pp. 1545-1560.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/51865
dc.identifier.doi10.1080/00220388.2016.1166208
dc.description.abstract

© 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.

dc.publisherRoutledge
dc.titleRisk Incomprehension and Its Economic Consequences
dc.typeJournal Article
dcterms.source.volume52
dcterms.source.number11
dcterms.source.startPage1545
dcterms.source.endPage1560
dcterms.source.issn0022-0388
dcterms.source.titleJournal of Development Studies
curtin.departmentDepartment of Economics & Property
curtin.accessStatusFulltext not available


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