School of Accounting, Guangzhou College of Commerce, Guangzhou, China.
School of Public Finance and Administration, Zhongnan University of Economics and Law, Wuhan, China.
Front Public Health. 2022 Sep 6;10:922690. doi: 10.3389/fpubh.2022.922690. eCollection 2022.
Risk attitude is a vital component of public mental health. Thus, the public should be guided to fully comprehend risks to improve public mental health. Using panel data from China Household Finance Survey (CHFS) in 2017, this study examined the impact of risk attitudes on household consumption behavior by constructing a micro-econometric model. Results suggest that risk attitude can promote household consumption, with multiple robustness tests supporting this conclusion. In addition, after dividing the consumption types into subsistence consumption, development consumption, and enjoyment consumption, we show risk preference promotes all three types of consumption and has the greatest impact on enjoyment consumption. Concurrently, risk neutrality can promote household survival consumption, but its promotion effect is smaller than that of risk preference. Moreover, risk aversion has an inhibitory effect on total consumption behavior, but this inhibitory effect does not show heterogeneity for different consumption behaviors. Heterogeneity analysis found that for male households, risk attitude remains an important factor in consumption behavior. When men's risk attitude is more risk averse, it can promote more survival consumption, whereas women's risk attitude is more risk averse. With increasing age, risk attitude remains a crucial factor in the occurrence of consumer behavior. However, education level has no bearing on the effect of risk attitude on household consumption behavior. This research holds theoretical and practical significance for improving public mental health, optimizing residents' consumption structure, and achieving high-quality economic development.
风险态度是公众心理健康的重要组成部分。因此，应该引导公众充分了解风险，以提高公众心理健康水平。本研究利用中国家庭金融调查（CHFS）2017 年的面板数据，通过构建微观计量经济学模型，考察了风险态度对家庭消费行为的影响。结果表明，风险态度可以促进家庭消费，并且经过多次稳健性检验支持了这一结论。此外，在将消费类型划分为生存消费、发展消费和享受消费后，我们发现风险偏好促进了所有三种类型的消费，并且对享受消费的影响最大。同时，风险中性可以促进家庭生存消费，但促进效果小于风险偏好。此外，风险厌恶对总消费行为具有抑制作用，但这种抑制作用在不同的消费行为中没有表现出异质性。异质性分析发现，对于男性家庭，风险态度仍然是消费行为的重要因素。当男性的风险态度更加厌恶风险时，它可以促进更多的生存消费，而女性的风险态度更加厌恶风险。随着年龄的增长，风险态度仍然是消费行为发生的关键因素。然而，教育水平对风险态度对家庭消费行为的影响没有影响。本研究对于改善公众心理健康、优化居民消费结构、实现经济高质量发展具有理论和实践意义。
