eprintid: 30508
rev_number: 13
eprint_status: archive
userid: 6145
dir: disk0/00/03/05/08
datestamp: 2021-09-15 07:45:22
lastmod: 2022-07-18 01:13:20
status_changed: 2021-09-15 07:45:22
type: article
metadata_visibility: show
creators_name: Schaap, Robbert-Jan
title: The prevalence of prudence in a risky occupation
subjects: ddc-330
divisions: i-181000
abstract: In this paper I present the first experimental measurement of prudence with a subject pool that is active in a high-risk occupation. Using a lab-in-the-field experiment I measure the prevalence of prudent preferences among 423 Chilean small-scale fishers. The prevalence of prudence in this sample is significantly lower than that found in previously measured samples. The key findings are that prudence (1) correlates with preferences for more secure occupations and (2) decreases strongly with the tenure and age of the fisher. I show that these findings are robust when controlling for risk aversion.
date: 2021-10
publisher: Elsevier
id_scheme: DOI
fp7_project_id: ERC StGr. 678049
ppn_swb: 1770717943
own_urn: urn:nbn:de:bsz:16-heidok-305089
language: eng
bibsort: SCHAAPROBBTHEPREVALE202110
full_text_status: public
publication: Economics Letters
volume: 207
number: 110019
issn: 0165-1765
citation:   Schaap, Robbert-Jan  (2021) The prevalence of prudence in a risky occupation.  Economics Letters, 207 (110019).   ISSN 0165-1765     
document_url: https://archiv.ub.uni-heidelberg.de/volltextserver/30508/1/Prudence_EconomicsLetters_Preprint.pdf