In this paper, I consider a consumer with a concave utility function over n commodities and trace out the consequences of quantity constraints on product markets for the consumer's aversion towards income risk. I show that the effect can be decomposed in a cardinal and ordinal term, that both...

Using choices among hypothetical income lotteries from respondents to a large Norwegian survey, we analyse the association between attitudes towards risks and socio-economic characteristics by means of an ordered probit model. Next, we impute a risk aversion measure to every respondent and use...

Using survey data and the instrument developed by Barsky et al. (1997), we estimate the distribution of attitudes towards income risk in a country where many employment and health-related risks are generously covered by a tax financed social insurance system (Norway 2006). Under a CRRA...