Are risk attitudes robust? Qualitative evidence before and after a business cycle inflection
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.
Year of publication: |
2001
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Authors: | Raftery, John ; Csete, Josephine ; Hui, Sammy |
Published in: |
Construction Management and Economics. - Taylor & Francis Journals, ISSN 0144-6193. - Vol. 19.2001, 2, p. 155-164
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Publisher: |
Taylor & Francis Journals |
Subject: | Risk Attitude Business Cycles |
Saved in:
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