Mental health changes and the willingness to take risks

Lu Li (), Andreas Richter () and Petra Steinorth ()
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Lu Li: Ludwig-Maximilians-Universitaet, Munich
Andreas Richter: Ludwig-Maximilians-Universitaet, Munich
Petra Steinorth: Universitaet Hamburg

The Geneva Risk and Insurance Review, 2023, vol. 48, issue 1, No 2, 62 pages

Abstract: Abstract Utilizing the longitudinal SOEP data representative of the German population, we find that mental health shocks significantly decrease the willingness to take risks. We also find that mental health improvements increase the willingness to take risks significantly. Our findings are relevant for better understanding the economic decision making of the large number of individuals with mental health issues.

Keywords: Willingness to take risks; Health shock; Health improvement; Mental health; SF-12 (search for similar items in EconPapers)
JEL-codes: D12 D18 D81 I12 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1057/s10713-021-00070-7

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