We obtain rich measures of risk preferences of poor farmers in Vietnam, and estimate structural models that capture … risk preferences over different probability levels and across different domains (gains and losses). The results break … radically with the previous literature on risk preferences, in developed and developing countries alike. Far from being …

, giving rise to a riskincome paradox. We test this paradox by measuring the risk preferences of over 500 household heads …Risk aversion has generally been found to decrease in income or wealth. This may lead one to expect that poor countries … will be more risk averse than rich countries. Recent comparative findings with students, however, suggest the opposite …

of risk preferences under responsibility. In addition, we also find that responsibility reduces loss aversion according …

Prospect theory (PT) is the dominant descriptive theory of decision making under risk today. For the modeling of … choices, PT relies on a psychologically founded separation of risk attitudes into attitudes towards outcomes, captured in a … theoretically sound, it is unclear whether this clear separation is reflected in actual choices. To test this, we designed two …