An Estimate of Risk Aversion in the U.S. Electorate

Adam J. Berinsky and Jeffrey B. Lewis

Quarterly Journal of Political Science, 2007, vol. 2, issue 2, 139-154

Abstract: Recent work in political science has taken up the question of issue voting under conditions of uncertainty – situations in which voters have imperfect information about the policy positions of candidates. We move beyond the assumption of a particular spatial utility function and develop a model to estimate voters' preferences for risk. Contrary to the maintained hypothesis in the literature, voters do not appear to have the strongly risk averse preferences implied by quadratic preferences.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:now:jlqjps:100.00005055

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