Risk preferences play a fundamental role in individuals' economic decision-making. We examine whether the historical macroeconomic environment shapes individuals' willingness to take risks. Using nationally representative samples from Japan and exploiting regional variation in economic...

We investigate whether individuals' risk preferences change after experiencing a natural disaster, specifically, the 2011 Great East Japan Earthquake. Exploiting the panels of nationally representative surveys on risk preferences, we find that men who experienced greater intensity of the...

The poor live paycheck to paycheck and are repeatedly exposed to strong cyclical income fluctuations. We investigate whether such income fluctuations affect risk preference among the poor. If risk preference temporarily changes around payday, optimal decisions made before payday may no longer be...

We investigate whether individuals' risk preferences change after experiencing a natural disaster, specifically, the 2011 Great East Japan Earthquake. Exploiting the panels of nationally representative surveys on risk preferences, we find that men who experienced greater intensity of the...

Risk preferences play a fundamental role in individuals' economic decision-making. We examine whether the historical macroeconomic environment shapes individuals' willingness to take risks. Using nationally representative samples from Japan and exploiting regional variation in economic...

Risk preferences play a fundamental role in individuals' economic decision-making. We examine whether the historical macroeconomic environment shapes individuals' willingness to take risks. Using nationally representative samples from Japan and exploiting regional variation in economic...