Common genetic effects on risk-taking preferences and choices

Nicos Nicolaou () and Scott Shane ()
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Nicos Nicolaou: University of Warwick
Scott Shane: Case Western Reserve University

Journal of Risk and Uncertainty, 2019, vol. 59, issue 3, No 3, 279 pages

Abstract: Abstract Although prior research has shown that risk-taking preferences and choices are correlated across many domains, there is a dearth of research investigating whether these correlations are primarily the result of genetic or environmental factors. We examine the extent to which common genetic factors account for the association between general risk-taking preferences and domain-specific risk-taking preferences, and between general risk-taking preferences and risk taking choices in financial investments, stock market participation and business formation. Using data from 1898 monozygotic (MZ) and 1344 same-sex dizygotic (DZ) twins, we find that general risk-taking shares a common genetic component with domain-specific risk-taking preferences and risk-taking choices.

Keywords: Risk taking preferences; Twins; Portfolio choice; risk taking across domains; D03; G02; D81 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s11166-019-09316-2

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