Decker Simon, Schmitz Hendrik
University of Duisburg-Essen, Germany; CINCH Health Economics Research Center, Germany; Ruhr Graduate School in Economics (RGS Econ), Germany.
CINCH Health Economics Research Center, Germany; University of Paderborn, Germany; RWI Essen, Germany.
J Health Econ. 2016 Dec;50:156-170. doi: 10.1016/j.jhealeco.2016.09.006. Epub 2016 Oct 8.
We empirically assess whether a health shock influences individual risk aversion. We use grip strength data to obtain an objective health shock indicator. In order to account for the non-random nature of our data regression-adjusted matching is employed. Risk preferences are traditionally assumed to be constant. However, we find that a health shock increases individual risk aversion. The finding is robust to a series of sensitivity analyses and persists for at least four years after the shock. Income changes do not seem to be the driving mechanism.
我们通过实证评估健康冲击是否会影响个体的风险厌恶程度。我们使用握力数据来获取一个客观的健康冲击指标。为了考虑数据的非随机性，我们采用了回归调整匹配法。传统上认为风险偏好是恒定不变的。然而，我们发现健康冲击会增加个体的风险厌恶程度。这一发现经过一系列敏感性分析后依然稳健，并且在冲击发生后至少持续四年。收入变化似乎并非驱动机制。
