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Violence and Risk Preference: Experimental Evidence from Afghanistan

The American economic review, 2014-01, Vol.104 (1), p.123-148 [Peer Reviewed Journal]

Copyright© 2014 American Economic Association ;Copyright American Economic Association Jan 2014 ;ISSN: 0002-8282 ;EISSN: 1944-7981 ;DOI: 10.1257/aer.104.1.123 ;CODEN: AENRAA

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Title:
Violence and Risk Preference: Experimental Evidence from Afghanistan
Author: Callen, Michael ; Isaqzadeh, Mohammad ; Long, James D. ; Sprenger, Charles
Subjects: Afghanistan ; Decision making ; Economic uncertainty ; Economics ; Evidence ; Expected utility ; Experiments ; Fear ; Insurance premiums ; Insurgency ; Investigations ; Military ; Police ; Political science ; Post traumatic stress disorder ; Preferences ; Prospect theory ; Psychology ; Risk ; Risk aversion ; Risk aversion preference ; Risk preferences ; Statistical analysis ; Trauma ; Violence
Is Part Of: The American economic review, 2014-01, Vol.104 (1), p.123-148
Description: We investigate the relationship between violence and economic risk preferences in Afghanistan combining: (i) a two-part experimental procedure identifying risk preferences, violations of Expected Utility, and specific preferences for certainty; (ii) controlled recollection of fear based on established methods from psychology; and (iii) administrative violence data from precisely geocoded military records. We document a specific preference for certainty in violation of Expected Utility. The preference for certainty, which we term a Certainty Premium, is exacerbated by the combination of violent exposure and controlled fearful recollections. The results have implications for risk taking and are potentially actionable for policymakers and marketers.
Publisher: Nashville: American Economic Association
Language: English
Identifier: ISSN: 0002-8282
EISSN: 1944-7981
DOI: 10.1257/aer.104.1.123
CODEN: AENRAA
Source: ProQuest Central

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Violence and Risk Preference: Experimental Evidence from Afghanistan

Copyright© 2014 American Economic Association ;Copyright American Economic Association Jan 2014 ;ISSN: 0002-8282 ;EISSN: 1944-7981 ;DOI: 10.1257/aer.104.1.123 ;CODEN: AENRAA

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