Does a Risk-Averse Person Get Married Sooner or Later? (in Japanese)

Kazuma Sato

Economic Analysis, 2016, vol. 190, 27-44

Abstract: This study employs the Keio Household Panel Survey (KHPS) to examine the effect of risk preferences on the timing of marriage. While many empirical studies in Japan and other countries have analyzed the effect of risk preferences on smoking and drinking, few studies have explored the effect of risk preferences on the timing of marriage in Japan. Schmidt (2008) and Spivey (2010) use the mate-search model and reveal that a risk-averse person gets married sooner. This study clarifies two results. First, even considering the individual fixed effect, it was found that risk-averse men and women get married sooner. Second, the simulation of Cox’s proportional hazard model and the analysis of marriage conditions at ages 40 and 50 reveal that risk preferences affect not only the timing of marriage but also the marriage rate later in life. JEL Classification Number：J11, J12, J13 Key Word：Risk Preferences, Marriage, Cox’s Proportional Hazard Model

Date: 2016
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