Are Tall People Less Risk Averse Than Others?

Olaf Hübler

Schmollers Jahrbuch : Journal of Applied Social Science Studies / Zeitschrift für Wirtschafts- und Sozialwissenschaften, 2013, vol. 133, issue 1, 23-42

Abstract: This paper examines the question of whether risk aversion of prime-age workers is negatively correlated with human height to a statistically significant degree. A variety of estimation methods, tests and specifications yield robust results that permit one to answer this question in the affirmative. Hausman-Taylor panel estimates, however, reveal that height effects disappear if personality traits and skills, parents' behaviour, and interactions between environment and individual abilities appear simultaneously. Height is a good proxy for all these influences if they are not observable. Not just one factor but a combination of several traits and interaction effects can describe the time-invariant individual effect in a panel model of risk attitude.

JEL-codes: D90 J13 J24 (search for similar items in EconPapers)
Date: 2013
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Related works:
Working Paper: Are Tall People Less Risk Averse than Others? (2012)
Working Paper: Are Tall People Less Risk Averse than Others? (2012)
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