A Note on Risk Aversion and Labour Market Outcomes: Further Evidence from German Survey Data
Using the large-scale German Socio-Economic Panel, this note reports direct empirical evidence for significant correlations between risk aversion and labour market outcomes (full-time employment, temporary agency work, fixed-term contracts, employer change, quits, training, wages, and job satisfaction).
Thursday, June 12, 2008
New IZA Paper on Risk Aversion
A new IZA WP on risk aversion by Christian Pfeifer provides more evidence from the German Socio-Economic Panel. Details below.
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Another recent IZA paper on risk aversion:
IZA DP No. 3503
Christian Pfeifer:
Risk Aversion and Sorting into Public Sector Employment
Abstract:
This research note uses two German data sets – the large-scale German Socio-Economic Panel and unique data from own student questionnaires – to analyse the relationship between risk aversion and the choice for public sector employment. Main results are: (1) more risk averse individuals sort into public sector employment, (2) the impact of career specific and unemployment risk attitudes is larger than the impact of general risk attitudes, and (3) risk taking is rewarded with higher wages in the private but not in the public sector.
http://ftp.iza.org/dp3503.pdf
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