Financial decision-making power and risk taking

Trang M.T. Phung, Quoc N. Tran, Nhut H. Nguyen and Tho H. Nguyen

Economics Letters, 2021, vol. 206, issue C

Abstract: We find that financial decision-making power per se is significant in explaining individuals’ objective risk-taking behavior and subjective risk attitude. More importantly, we show that this decision power attenuates the correlation between subjective risk attitude and objective risk taking. These results are significant in understanding the important role of decision-making power in individual risk-taking behavior.

Keywords: Household; Risk taking; Decision making; Investment behavior (search for similar items in EconPapers)
JEL-codes: G40 G50 G51 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:206:y:2021:i:c:s0165176521002767

DOI: 10.1016/j.econlet.2021.109999

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