Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - Istituto Einaudi per l'Economia e la Finanza (EIEF) - 2013
aversion following the 2008 financial crisis. We find that both a qualitative and a quantitative measure of risk aversion … the possibility that psychological factors might be driving it. To test whether a scary experience (as the financial … crisis) can trigger large increases in risk aversion, we conduct a lab experiment. We find that indeed students who watched a …