We show how to use panel data on household consumption to directly estimate households’ risk preferences. Specifically …, 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 …

account for both risky and intertemporal choices, and under the conditions of their experiment, found evidence supporting it … risk preferences and time preferences is very much a function of the way that experimenter incentivize choices. Another … reason to be sceptical about the result is that the experiment was not properly powered up; hence the no-difference results …