, we measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model, which we … then test allowing for this heterogeneity. There is substantial, statistically significant heterogeneity in estimated risk … preferences are unrelated to wealth or other characteristics. The heterogeneity matters for policy: Although the average household …

We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across … heterogeneity in the mean savings offset depending on age, risk attitudes and country. Third, the offset follows different patterns …