higher self-rated knowledge of personal finances, and are more likely to understand the value of diversification. While …

Risk diversification is the basis of insurance and investment. It is thus crucial to study the effects that could limit … occurrence, systemic risk can reduce dramatically the diversification benefits. It is clearly revealed via a non …

, 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 …