Arbeitspapier
Risk Aversion and Reservation Wages
This study examines the relationship between individual risk aversion and reservation wages using a novel set of direct measures of individual risk attitudes from the German Socio-Economic Panel (SOEP). We find that risk aversion has a significantly negative impact on the level of reservation wages. Moreover, we show that the elasticity of the reservation wage with respect to unemployment benefits is remarkably lower for risk-averse job seekers than for risk-loving job seekers. The results are consistent with an interpretation that risk-averse job seekers set their reservation wage levels sufficiently low, so that they accept almost every job offer.
- Sprache
-
Englisch
- Erschienen in
-
Series: SOEPpapers on Multidisciplinary Panel Data Research ; No. 23
- Klassifikation
-
Wirtschaft
Unemployment: Models, Duration, Incidence, and Job Search
Unemployment Insurance; Severance Pay; Plant Closings
- Thema
-
Risk Aversion
Reservation Wages
Survey Data
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Pannenberg, Markus
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Pannenberg, Markus
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2007
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