Rethinking how risk aversion and impatience are linked with cognitive ability: experimental findings from agricultural students and farmers

Sven Grüner
Authors registered in the RePEc Author Service: Sven Gruener

Journal of Environmental Economics and Policy, 2022, vol. 11, issue 3, 248-259

Abstract: Dohmen et al. (2010) find in their paper (‘Are Risk Aversion and Impatience Related to Cognitive Ability?'), which has been published in the American Economic Review, that risk aversion and impatience are negatively related to cognitive ability. This topic is important because controlling for cognitive ability might be necessary if someone is interested in the link of risk preferences or time preferences to real-world outcomes. We re-examine their key results by conducting an experimental study using two subject pools (agricultural students and farmers) and three levels of monetary incentives. Similar to Dohmen et al. (2010), our study finds the above-described negative correlations. However, the strength of the association is relatively small in the realm of risk aversion and negligible with impatience.

Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/21606544.2021.1966516 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Rethinking how risk aversion and impatience are linked with cognitive ability: Experimental findings from agricultural students and farmers (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:teepxx:v:11:y:2022:i:3:p:248-259

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/teep20

DOI: 10.1080/21606544.2021.1966516

Access Statistics for this article

Journal of Environmental Economics and Policy is currently edited by Ken Willis

More articles in Journal of Environmental Economics and Policy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().