The Impact of Economic Circumstances on Risk Aversion
The objective of this paper is to find out whether economic circumstances can have an impact on the level of risk aversion using a sample of data from the Netherlands. The testing strategy is based on the DNB Household Survey, which is issued by CentERdata. Launched in 1993, this database contains panel data up until the year 2011. Using such data allows for the study of psychological as well as e