Do sources of money matter in risk-taking behaviour?

Jean-François Gajewski (), Luc Meunier () and Sima Ohadi
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Jean-François Gajewski: MAGELLAN - Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon
Luc Meunier: ESSCA Research Lab - ESSCA - ESSCA – École supérieure des sciences commerciales d'Angers = ESSCA Business School

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Abstract: Assuming that money is fungible, income and wealth affect risk aversion. In the present study, we investigate whether the source of money affects risk-related decision-making. We use the percentage of temporary income and sources of income to capture the heterogeneity of risk-taking behaviour. The results indicate the significant and robust role of the temporary portion of income in explaining risk-taking behaviour: a 1% increase in temporary income corresponds to up to a 12.7% increase in risk-taking. Furthermore, having multiple sources of money is associated with greater risk-taking, and the origin of money matters with regards to risk-taking.

Keywords: Risk-taking; risk aversion; financial decision-making; source of income (search for similar items in EconPapers)
Date: 2021-09-22
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Published in Applied Economics, 2021, pp.1-24. ⟨10.1080/00036846.2021.1963412⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03400444

DOI: 10.1080/00036846.2021.1963412

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