Risk taking and risk learning after a rare event: Evidence from a field experiment in Pakistan

Willingness to Pay for Hurricane-Resistant Home Improvement Programs: a Choice Experiment in Northeastern and Mid-Atlantic United States

“…Related studies indicate that individuals who perceive flood risks are more likely to invest in risk mitigation and insurance (e.g. Botzen and van den Bergh 2012; Said et al 2015). It is true that respondents are self-reporting whether they are living in a flood zone, which may be subject to errors but earlier studies report that people's flood risk perceptions are highly correlated with the actual risks they are exposed to (Siegrist and Gutscher 2006;Rana and Routray 2016).…”

Stability of experimental and survey measures of risk, time, and social preferences: A review and some new results

“…The research on natural disasters (including earthquakes, famines, floods, hurricanes, and tsunamis) suggests that such shocks increase risk aversion (Cameron and Shah, 2015; Cassar et al, 2011; Chantarat et al, 2015; Samphantharak and Chantarat, 2015; van den Berg et al, 2009), decrease risk aversion (Bchir and Willinger, 2013; Eckel et al, 2009; Hanaoka et al, 2014; Ingwersen, 2014; Page et al, 2014; Willinger et al, 2013), have no effect at all on risk preferences (Becchetti et al, 2012), or have no consistent effect on risk preferences (Said et al, 2015); increase impatience (Bchir and Willinger, 2013; Cassar et al, 2011; Sawada and Kuroishi, 2015), decrease impatience (Callen, 2011; Chantarat et al, 2015), or have no consistent effect on time preferences (Willinger et al, 2013); increase trust (Cassar et al, 2011), decrease trust (Chantarat et al, 2015), or have no effect on the level of trust (Andrabi and Das, 2010); decrease trustworthiness (Fleming et al, 2014); and increase altruism (Becchetti et al, 2012; Chantarat et al, 2015), decrease altruism (Samphantharak and Chantarat, 2015), or have no consistent effect on altruism (Afzal et al, 2015). 10 …”

Risk preference dynamics around life events

“…Sahm, 2012;Salamanca, 2016). On the other hand, evidence of a deterministic component comes from research that links shifts in risk preferences to significant natural events such as hurricanes, floods, earthquakes and tsunamis (Eckel et al, 2009;Page et al, 2014;Cameron & Shah, 2015;Said et al, 2015;Cassar et al, 2017;Hanaoka et al, 2018) as well as more frequent life experiences such as health shocks (Decker & Schmidtz, 2016), exposure to violent crime and conflict (Voors et al, 2012;Brown et al, 2017), parenthood (Görlitz & Tamm, 2015;Browne et al, 2016) and changes in financial circumstances (Anderson et al, 2008). People also appear to become more risk averse as they get older (e.g.…”