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L'analisi dell'attitudine al rischio tra i membri della famiglia. (The analysis of risk attitude amongst family members)

Author

Listed:
  • Philomena Bacon

    (University of East Anglia)

  • Anna Conte

    (Sapienza Universita' di Roma)

  • Peter G. Moffatt

    (University of East Anglia)

Abstract

Le determinanti dell'attitudine al rischio tra i membri della famiglia sono analizzate utilizzando i dati del German Socio-Economic Panel nel periodo 2004-2009. Al centro dell'analisi ci sono le risposte alla domanda contenuta nell'indagine sull'attitudine generale ad assumersi dei rischi. Le risposte a questa domanda sono fornite su una scala Likert 0-10. Noi rispettiamo sia la natura ordinale sia la struttura longitudinale (panel) dei dati, stimando un modello probit per dati ordinabili ad effetti casuali. Dividiamo i membri della famiglia in tre tipologie: capifamiglia, coniugi e prole. Troviamo che i coniugi sono i piu' avversi al rischio e i figli i meno avversi al rischio. Alla luce di questi risultati, stimiamo il modello separatamente per i tre gruppi, trovando risultati diversi tra i tre. Nell'equazione dei figli, includiamo sia l'attitudine al rischio del capofamiglia sia quello del coniuge come variabili esplicative, e troviamo che entrambi hanno un effetto significativamente positivo sull'attitudine al rischio dei figli, il che indica che i bambini tendono a 'ereditare' l'attitudine al rischio dei loro genitori. The determinants of risk attitude amongst family members are explored using data from the German Socio-Economic Panel over the period 2004 to 2009. The focus of the analysis is the repeated responses to the survey question about general willingness to take risk. Responses to this question are provided on a 0-10 Likert scale. We respect both the ordinality and the panel structure of the data by estimating the random effects ordered probit model. We divide household members into three types: heads, spouses and offspring. We find that spouses are the most risk averse, and offspring the least risk averse. In view of these findings, we estimate the model separately for the three groups and find different results between the three. In the offspring equation, we include both the head's and the spouse's risk attitude as explanatory variables, and find that both have a significantly positive effect on the offspring's risk-attitude, indicating that children tend to 'inherit' the risk attitude of their guardians.

Suggested Citation

  • Philomena Bacon & Anna Conte & Peter G. Moffatt, 2021. "L'analisi dell'attitudine al rischio tra i membri della famiglia. (The analysis of risk attitude amongst family members)," Moneta e Credito, Economia civile, vol. 74(294), pages 137-147.
    • Handle: RePEc:psl:moneta:2021:23
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    File URL: https://rosa.uniroma1.it/rosa04/moneta_e_credito/article/view/17519/16719
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Panel Data; Risk Attitude;

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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