A stated preference survey was used to investigate the potential discrepancy between the priorities of public administrators and the general public regarding risk reductions. Both groups of respondents were asked to assume the role of a public policy-maker and choose between different public...

We study household decision making in a high-stakes experiment with a random sample of households in rural China. Spouses have to choose between risky lotteries, first separately and then jointly. We find that spouses’ individual risk preferences are more similar the richer the household and...

The risk of losses of income and productive means due to adverse weather can differ significantly among farmers sharing a productive landscape, and is of course hard to estimate, or even “guesstimate” empirically. Moreover, the costs associated with investments in reduced vulnerability to...