We develop a structural econometric model to elicit household-specific expectations about future financial asset returns and risk attitudes by using data on observed portfolio holdings and self-assessed willingness to bear financial risk. Our framework assumes that household portfolios are...

We use a panel dataset from the Dutch Household Survey, covering annually the period 1995-2012, to analyse whether individual financial risk taste changes over time with the background macroeconomic and financial conditions, as well as personal and subjective exposure to portfolio risk....

We exploit the US Survey of Consumer Finances (SCF) from 1998 to 2007 to provide new insights on the evolution of US households' willingness to undertake portfolio risk. Specifically, we consider four alternative measures of portfolio risk, based on two definitions of portfolio – a narrow one,...

We exploit the US Survey of Consumer Finances from 1998 to 2010 to study households' portfolio risk. We compare alternative measures of ex-ante risk, based on a financial portfolio including deposits, bonds and stocks, or a broader portfolio also including real estate, business wealth and...