Patience, Risk Aversion, and Economic Behavior: Combining Experimental Data with Administrative Register Data

Publikation: Bog/antologi/afhandling/rapportPh.d.-afhandling

Standard

Patience, Risk Aversion, and Economic Behavior : Combining Experimental Data with Administrative Register Data. / Rasmussen, Gregers Nytoft.

2018. 136 s. (University of Copenhagen, Department of Economics. PhD Series; Nr. 242).

Publikation: Bog/antologi/afhandling/rapportPh.d.-afhandling

Harvard

Rasmussen, GN 2018, Patience, Risk Aversion, and Economic Behavior: Combining Experimental Data with Administrative Register Data. University of Copenhagen, Department of Economics. PhD Series, nr. 242.

APA

Rasmussen, G. N. (2018). Patience, Risk Aversion, and Economic Behavior: Combining Experimental Data with Administrative Register Data. University of Copenhagen, Department of Economics. PhD Series Nr. 242

Vancouver

Rasmussen GN. Patience, Risk Aversion, and Economic Behavior: Combining Experimental Data with Administrative Register Data. 2018. 136 s. (University of Copenhagen, Department of Economics. PhD Series; Nr. 242).

Author

Rasmussen, Gregers Nytoft. / Patience, Risk Aversion, and Economic Behavior : Combining Experimental Data with Administrative Register Data. 2018. 136 s. (University of Copenhagen, Department of Economics. PhD Series; Nr. 242).

Bibtex

@phdthesis{8435e5b593034037b6c088f311ae824f,
title = "Patience, Risk Aversion, and Economic Behavior: Combining Experimental Data with Administrative Register Data",
abstract = "This paper tests whether time and risk preferences are related to behavior on the loan market. Measures of patience and risk aversion are elicited for about 5,000 Danish participants in an incentivized online experiment. The experimental preference measures are matched to individual-level debt behavior in the field as observed in detailed administrative register data. I find that patient individuals have lower ratios of nonmortgage loan to income, postpone the incurrence of their first non-mortgage debt further, pay lower average interest rates on their non-mortgage debt, are less likely to choose mortgages with deferred amortization (interest-only mortgages), and are less likely to be delinquent on loans. Furthermore, the results indicate that risk averse mortgage holders are less likely to choose adjustable-rate mortgages.",
keywords = "Faculty of Social Sciences, Wealth inequality, preference heterogeneity, preference elicitation, experimental methods, register data",
author = "Rasmussen, {Gregers Nytoft}",
year = "2018",
month = feb,
language = "English",
series = "University of Copenhagen, Department of Economics. PhD Series",
publisher = "Koebenhavns Universitet * Oekonomisk Institut",
number = "242",

}

RIS

TY - BOOK

T1 - Patience, Risk Aversion, and Economic Behavior

T2 - Combining Experimental Data with Administrative Register Data

AU - Rasmussen, Gregers Nytoft

PY - 2018/2

Y1 - 2018/2

N2 - This paper tests whether time and risk preferences are related to behavior on the loan market. Measures of patience and risk aversion are elicited for about 5,000 Danish participants in an incentivized online experiment. The experimental preference measures are matched to individual-level debt behavior in the field as observed in detailed administrative register data. I find that patient individuals have lower ratios of nonmortgage loan to income, postpone the incurrence of their first non-mortgage debt further, pay lower average interest rates on their non-mortgage debt, are less likely to choose mortgages with deferred amortization (interest-only mortgages), and are less likely to be delinquent on loans. Furthermore, the results indicate that risk averse mortgage holders are less likely to choose adjustable-rate mortgages.

AB - This paper tests whether time and risk preferences are related to behavior on the loan market. Measures of patience and risk aversion are elicited for about 5,000 Danish participants in an incentivized online experiment. The experimental preference measures are matched to individual-level debt behavior in the field as observed in detailed administrative register data. I find that patient individuals have lower ratios of nonmortgage loan to income, postpone the incurrence of their first non-mortgage debt further, pay lower average interest rates on their non-mortgage debt, are less likely to choose mortgages with deferred amortization (interest-only mortgages), and are less likely to be delinquent on loans. Furthermore, the results indicate that risk averse mortgage holders are less likely to choose adjustable-rate mortgages.

KW - Faculty of Social Sciences

KW - Wealth inequality

KW - preference heterogeneity

KW - preference elicitation

KW - experimental methods

KW - register data

M3 - Ph.D. thesis

T3 - University of Copenhagen, Department of Economics. PhD Series

BT - Patience, Risk Aversion, and Economic Behavior

ER -

ID: 192466262