Chiappori, Pierre-André; Krislert Samphantharak; … - 2011
We measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model and …-markets consumption allocation. There is substantial heterogeneity in risk preferences estimated from the full-insurance model, positively … correlated in most villages with portfolio-choice estimates. The heterogeneity matters for policy: Although the average household …