 Financial decision making in collective society--A field test on Israeli kibbutz members and city residentsMosi Rosenboim (), Tal Shavit () and Amir Shoham Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2010, vol. 39, issue 1, 30-36 Abstract: This comparison of Israeli kibbutz members to city residents examines how of individualistic/collective society affects financial decision making. Findings revealed that kibbutz members are more risk averse and discount the future more than city residents, undermining the assumption that collective society accords a safety net. We claim that the collective financial management of the kibbutz reduces individuals' financial knowledge and experience, causing them to be more risk averse in financial decisions, and thus overpowering the safety net offered by the collective society. In addition, we argue that despite privatization, individuals still operate according to collective ideas in handling their personal finances, but less than before the onset of the privatization process. Keywords: Discounting; Risk; aversion; Cross-cultural; Israeli; kibbutz; Collective; Individualistic (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:39:y:2010:i:1:p:30-36 Access Statistics for this article Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics) is currently edited by Pablo Brañas Garza More articles in Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics) from Elsevier |
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