Attitudes Toward Uncertainty Among the Poor: Evidence from Rural Ethiopia
Alpaslan Akay (),
Haileselassie Medhin () and
Discussion Papers from Resources For the Future
We looked at risk and ambiguity attitudes among Ethiopian peasants in one of the poorest regions of the world and compared their attitudes to a standard Western university student sample elicited by the same decision task. Strong risk aversion and ambiguity aversion were found with the Ethiopian peasants, and these attitudes are similar to those of the university students. Testing for the effect of socioeconomic variables on uncertainty attitudes showed that poor health increased both risk and ambiguity aversion.
Keywords: risk attitudes; ambiguity attitudes; poverty; cultural differences (search for similar items in EconPapers)
JEL-codes: D81 C93 O12 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-afr, nep-agr and nep-upt
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Working Paper: Attitudes toward Uncertainty among the Poor: Evidence from Rural Ethiopia (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:rff:dpaper:dp-10-04-efd
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