Aversión al riesgo, preferencia temporal y variables socioeconómicas: evidencia de un pueblo de Colombia
Risk aversion, temporal preference, and socioeconomic variables: evidence from a Colombian people
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Ortiz Escobar, D. 2017. Aversión al riesgo, preferencia temporal y variables socioeconómicas: evidencia de un pueblo de Colombia. Revista de Economía Institucional. 19, 37 (nov. 2017), 147–165. DOI:https://doi.org/10.18601/01245996.v19n37.08.
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En este artículo presento evidencia exploratoria para el caso de Colombia sobre la relación entre ciertas variables socioeconómicas e indicadores de preferencias individuales. Aplicamos una encuesta de hogares y tomamos medidas de preferencia temporal y aversión al riesgo a una muestra de habitantes de Barranca de Upía (Meta). Encuentro que i. La edad está asociada con la preferencia temporal revelada, pero no a la aversión al riesgo revelada; ii. Las mujeres son más aversas al riesgo, y iii. El hecho de haber llegado al pueblo en los últimos cinco años, bien sea buscando oportunidades económicas o huyendo del conflicto armado, está asociado a una alta preferencia temporal revelada y una baja aversión al riesgo revelada.
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Anderson, C. L. et al. (2004). Discount rates in Vietnam. Economic Development and Cultural Change, 52(4), 873-887.
Andreoni, J. y Sprenger, C. (2012). Estimating time preferences from convex budgets. American Economic Review, 102(7), 3333-3356.
Arnaud, R. y Couture, S. (2012). Stability of risk preference measures: results from a field experiment on French farmers. Theory and Decision, 73(2), 203-221.
Bauer, M.; Chytilov, J. et al. (2012). Behavioral foundations of microcredit: experimental and survey evidence from rural India. American Economic Review, 102(2), 1118-1139.
Bauer, M. y Chytilov, J. (2010). The impact of education on subjective discount rate in Ugandan villages. Economic Development and Cultural Change, 58(4), 643-669.
Becker, G. S. y Mulligan, C. B. (1997). The endogenous determination of time preference. The Quarterly Journal of Economics, 112(3), 729-758.
Berg, J.; Dickhaut, J. et al. (1995). Trust, reciprocity, and social history. Games and economic behavior, 10(1), 122-142.
Brick, K.; Visser, M. et al. (2012). Risk aversion: Experimental evidence from South African fishing communities. American Journal of Agricultural Economics, 94(1), 133-152.
Callen, M. et al. (2014). Violence and risk preference: Experimental evidence from Afghanistan. American Economic Review, 104(1), 123-148.
Cárdenas, J. C. y Carpenter, J. (2008). Behavioural development economics: Lessons from field labs in the Developing World. Journal of Development Studies, 44(3), 311-338.
Cárdenas, J. C. y Carpenter, J. (2013). Risk attitudes and economic well-being in Latin America. Journal of Development Economics, 103, 52-61.
Carlsson, F. et al. (2012). Household decision making in rural China: Using experiments to estimate the influences of spouses. Journal of Economic Behavior & Organization, 84(2), 525-536.
Charness, G.; Gneezy, U. et al. (2013). Experimental methods: Eliciting risk preferences. Journal of Economic Behavior & Organization, 87, 43-51.
Cook, J. et al. (2013). Measuring risk aversion among the urban poor in Kolkata, India. Applied Economics Letters, 20(1), 1-9.
Dave, C. et al. (2010). Eliciting risk preferences: When is simple better? Journal of Risk and Uncertainty, 41(3), 219-243.
Dufwenberg, M.; Gächter, S. et al. (2011). The framing of games and the psychology of play. Games and Economic Behavior, 73(2), 459-478.
Eckel, C. C. y Grossman, P. J. (2008). Differences in the economic decisions of men and women: Experimental evidence. Handbook of Experimental Economics Results 1, chap. 57, 509-519.
Fehr, E. y Gächter, S. (2000). Fairness and retaliation: The economics of reciprocity. The Journal of Economic Perspectives, 14(3), 159-181.
Fischbacher, U. y Föllmi-H. F. (2013). Lies in disguise – An experimental study on cheating. Journal of the European Economic Association, 11(3), 525-547.
Gaudecker, H.-M.; Van, S. A. et al. (2012). Experts in experiments: How selection matters for estimated distributions of risk preferences. Journal of Risk and Uncertainty, 45(2), 159-190.
Hans, P. B. (1980). Attitudes toward risk: Experimental measurement in rural India. American Journal of Agricultural Economics, 62(3), 395-407.
Harrison, G. W.; Lau, M. I. et al. (2002). Estimating individual discount rates in Denmark: A field experiment. American Economic Review, 92(5), 1606-1617.
Johnson, M. W. y Bickel, W. K. (2002). Within-subject comparison of real and hypothetical money rewards in delay discounting. Journal of the Experimental Analysis of Behavior, 77(2), 129-146.
Kirby, K. N. et al. (2002). Correlates of delay-discount rates: Evidence from Tsimane’ Amerindians of the Bolivian rain forest. Journal of Economic Psychology, 23(3), 291-316.
Kirby, K. N. y Herrnstein, R. J. (1995). Preference reversals due to myopic discounting of delayed reward. Psychological Science, 6(2), 83-89.
Kirby, K. N.; Winston, G. C. et al. (2005). Impatience and grades: Delay-discount rates correlate negatively with college GPA. Learning and Individual Differences, 15(3), 213-222.
Liu, E. M. y Huang, J. (2013). Risk preferences and pesticide use by cotton farmers in China. Journal of Development Economics, 103, 202-215.
Meier, S. y Sprenger, C. (2010). Present-biased preferences and credit card borrowing. American Economic Journal: Applied Economics, 2(1), 193-210.
Meier, S. y Sprenger, C. D. (2013). Discounting financial literacy: Time preferences and participation in financial education programs. Journal of Economic Behavior & Organization, 95, 159-174.
Mosley, P. y Verschoor, A. (2005). Risk attitudes and the vicious circle of poverty. European Journal of Development Research, 17(1), 59-88.
Moya, A. (2016). Violence, psychological trauma, and induced changes in risk attitudes: Evidence from victims of violence in Colombia, working paper, 2016.
Rieger, M. O.; Wang, M. et al. (2015). Risk preferences around the world. Management Science, 61(3), 637-648.
Shane, F.; Loewenstein, G. et al. (2002). Time discounting and time preference: A critical review. Journal of Economic Literature, 40(2), 351-401.
Sutter, M. et al. (2013). Impatience and uncertainty: Experimental decisions predict adolescents' field behavior. American Economic Review, 103(1), 510-531.
Tanaka, T.; Camerer, C. F. et al. Risk and time preferences: Linking experimental and household survey data from Vietnam. American Economic Review, 100(1), 557-571.
Voors, M. J. et al. (2012). Violent conflict and behavior: A field experiment in Burundi. American Economic Review, 102(2), 941-964.
Anderson, C. L. et al. (2004). Discount rates in Vietnam. Economic Development and Cultural Change, 52(4), 873-887.
Andreoni, J. y Sprenger, C. (2012). Estimating time preferences from convex budgets. American Economic Review, 102(7), 3333-3356.
Arnaud, R. y Couture, S. (2012). Stability of risk preference measures: results from a field experiment on French farmers. Theory and Decision, 73(2), 203-221.
Bauer, M.; Chytilov, J. et al. (2012). Behavioral foundations of microcredit: experimental and survey evidence from rural India. American Economic Review, 102(2), 1118-1139.
Bauer, M. y Chytilov, J. (2010). The impact of education on subjective discount rate in Ugandan villages. Economic Development and Cultural Change, 58(4), 643-669.
Becker, G. S. y Mulligan, C. B. (1997). The endogenous determination of time preference. The Quarterly Journal of Economics, 112(3), 729-758.
Berg, J.; Dickhaut, J. et al. (1995). Trust, reciprocity, and social history. Games and economic behavior, 10(1), 122-142.
Brick, K.; Visser, M. et al. (2012). Risk aversion: Experimental evidence from South African fishing communities. American Journal of Agricultural Economics, 94(1), 133-152.
Callen, M. et al. (2014). Violence and risk preference: Experimental evidence from Afghanistan. American Economic Review, 104(1), 123-148.
Cárdenas, J. C. y Carpenter, J. (2008). Behavioural development economics: Lessons from field labs in the Developing World. Journal of Development Studies, 44(3), 311-338.
Cárdenas, J. C. y Carpenter, J. (2013). Risk attitudes and economic well-being in Latin America. Journal of Development Economics, 103, 52-61.
Carlsson, F. et al. (2012). Household decision making in rural China: Using experiments to estimate the influences of spouses. Journal of Economic Behavior & Organization, 84(2), 525-536.
Charness, G.; Gneezy, U. et al. (2013). Experimental methods: Eliciting risk preferences. Journal of Economic Behavior & Organization, 87, 43-51.
Cook, J. et al. (2013). Measuring risk aversion among the urban poor in Kolkata, India. Applied Economics Letters, 20(1), 1-9.
Dave, C. et al. (2010). Eliciting risk preferences: When is simple better? Journal of Risk and Uncertainty, 41(3), 219-243.
Dufwenberg, M.; Gächter, S. et al. (2011). The framing of games and the psychology of play. Games and Economic Behavior, 73(2), 459-478.
Eckel, C. C. y Grossman, P. J. (2008). Differences in the economic decisions of men and women: Experimental evidence. Handbook of Experimental Economics Results 1, chap. 57, 509-519.
Fehr, E. y Gächter, S. (2000). Fairness and retaliation: The economics of reciprocity. The Journal of Economic Perspectives, 14(3), 159-181.
Fischbacher, U. y Föllmi-H. F. (2013). Lies in disguise – An experimental study on cheating. Journal of the European Economic Association, 11(3), 525-547.
Gaudecker, H.-M.; Van, S. A. et al. (2012). Experts in experiments: How selection matters for estimated distributions of risk preferences. Journal of Risk and Uncertainty, 45(2), 159-190.
Hans, P. B. (1980). Attitudes toward risk: Experimental measurement in rural India. American Journal of Agricultural Economics, 62(3), 395-407.
Harrison, G. W.; Lau, M. I. et al. (2002). Estimating individual discount rates in Denmark: A field experiment. American Economic Review, 92(5), 1606-1617.
Johnson, M. W. y Bickel, W. K. (2002). Within-subject comparison of real and hypothetical money rewards in delay discounting. Journal of the Experimental Analysis of Behavior, 77(2), 129-146.
Kirby, K. N. et al. (2002). Correlates of delay-discount rates: Evidence from Tsimane’ Amerindians of the Bolivian rain forest. Journal of Economic Psychology, 23(3), 291-316.
Kirby, K. N. y Herrnstein, R. J. (1995). Preference reversals due to myopic discounting of delayed reward. Psychological Science, 6(2), 83-89.
Kirby, K. N.; Winston, G. C. et al. (2005). Impatience and grades: Delay-discount rates correlate negatively with college GPA. Learning and Individual Differences, 15(3), 213-222.
Liu, E. M. y Huang, J. (2013). Risk preferences and pesticide use by cotton farmers in China. Journal of Development Economics, 103, 202-215.
Meier, S. y Sprenger, C. (2010). Present-biased preferences and credit card borrowing. American Economic Journal: Applied Economics, 2(1), 193-210.
Meier, S. y Sprenger, C. D. (2013). Discounting financial literacy: Time preferences and participation in financial education programs. Journal of Economic Behavior & Organization, 95, 159-174.
Mosley, P. y Verschoor, A. (2005). Risk attitudes and the vicious circle of poverty. European Journal of Development Research, 17(1), 59-88.
Moya, A. (2016). Violence, psychological trauma, and induced changes in risk attitudes: Evidence from victims of violence in Colombia, working paper, 2016.
Rieger, M. O.; Wang, M. et al. (2015). Risk preferences around the world. Management Science, 61(3), 637-648.
Shane, F.; Loewenstein, G. et al. (2002). Time discounting and time preference: A critical review. Journal of Economic Literature, 40(2), 351-401.
Sutter, M. et al. (2013). Impatience and uncertainty: Experimental decisions predict adolescents' field behavior. American Economic Review, 103(1), 510-531.
Tanaka, T.; Camerer, C. F. et al. Risk and time preferences: Linking experimental and household survey data from Vietnam. American Economic Review, 100(1), 557-571.
Voors, M. J. et al. (2012). Violent conflict and behavior: A field experiment in Burundi. American Economic Review, 102(2), 941-964.
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