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Risk-Taking Behavior in the Wake of Natural Disasters / Lisa Cameron, Manisha Shah.
- Format:
- Book
- Author/Creator:
- Cameron, Lisa.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w19534.
- NBER working paper series no. w19534
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- Summary:
- We investigate whether experiencing a natural disaster affects risk-taking behavior. We conduct standard risk games (using real money) with randomly selected individuals in rural Indonesia. We find that individuals who recently suffered a flood or earthquake exhibit more risk aversion. Experiencing a natural disaster causes people to perceive that they now face a greater risk of a future disaster. We conclude that this change in perception of background risk causes people to take fewer risks. We provide evidence that experimental risk behavior is correlated with real life risk behavior, highlighting the importance of our results.
- Notes:
- Print version record
- October 2013.
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