Are risk attitudes robust? Qualitative evidence before and after a business cycle inflection

John Raftery, Josephine Csete and Sammy Hui

Construction Management and Economics, 2001, vol. 19, issue 2, 155-164

Abstract: Attitudes to the monetary risks associated with business decisions are thought to vary in response to at least three identifiable stimuli: the amount of money involved, background economic conditions and the framing of the decision. This paper reports a study of peoples' attitude to risk before and after a real turning point in the real business cycle. This work sheds light on the extent to which (i) risk attitudes remain robust when economic conditions change, (ii) risk attitude is influenced by whether the choice problem is concerned with losses or with gains, and (iii) risk attitude may be subordinated to some other dominating objective.

Keywords: Risk Attitude Business Cycles (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1080/01446190150505081

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