Depression, Risk Preferences and Risk-taking Behavior
Citations
Altmetric
Author
Cobb-Clark, DA; Dahmann, SC; Kettlewell, NDate
2021Source Title
The Journal of Human ResourcesPublisher
University of Wisconsin PressUniversity of Melbourne Author/s
Dahmann, SarahAffiliation
Melbourne Institute of Applied Economic and Social ResearchMetadata
Show full item recordDocument Type
Journal ArticleCitations
Cobb-Clark, D. A., Dahmann, S. C. & Kettlewell, N. (2021). Depression, Risk Preferences and Risk-taking Behavior. Journal of Human Resources, Forthcoming, pp.0419-10183R1. https://doi.org/10.3368/jhr.58.1.0419-10183r1.Access Status
Access this item via the Open Access locationOpen Access URL
https://www.iza.org/publications/dp/12285Abstract
Depression affects the way that people process information and make decisions, including those involving risk and uncertainty. Our objective is to analyze the way that depressive episodes shape risk preferences and risk-taking behaviors. Using large, representative German household data we find no disparity in the behavioral risk preferences of the mentally well vs. depressed; yet depression is related to people’s stated risk preferences and risk-taking behaviors in ways that are context-specific. We develop a conceptual model and show that differences in risk-taking behavior are largely explained by depression-related disparities in behavioral traits such as locus of control, optimism and trust.
Export Reference in RIS Format
Endnote
- Click on "Export Reference in RIS Format" and choose "open with... Endnote".
Refworks
- Click on "Export Reference in RIS Format". Login to Refworks, go to References => Import References