How General Are Risk Preference? Choices under Uncertainty in Different Domains

Liran Einav, Amy Finkelstein, Iuliana Pascu, Mark Cullen, MD

NBER Retirement Research Center Paper No. NB 10-12
Issued in September 2010

---- Acknowledgements -----

We are grateful to Felicia Bayer, Brenda Barlek, Chance Cassidy, Fran Filpovits, Frank Patrick, and Mike Williams for innumerable conversations explaining the institutional environment of Alcoa, to Colleen Barry, Susan Busch, Linda Cantley, Deron Galusha, James Hill, Sally Vegso, and especially John Beshears, Brigitte Madrian, and Marty Slade, for providing and explaining the data, to Marika Cabral, Tatyana Deryugina, Sean Klein, and James Wang for outstanding research assistance, and to Levon Barseghyan, David Laibson, Dan Silverman, and Jon Skinner for helpful comments. The data were provided as part of an ongoing service and research agreement between Alcoa, Inc. and Stanford, under which Stanford faculty, in collaboration with faculty and sta¤ at Yale University, perform jointly agreed-upon ongoing and ad-hoc research projects on workers'health, injury, disability and health care, and Mark Cullen serves as Senior Medical Advisor for Alcoa, Inc. We gratefully acknowledge support from the NIA (R01 AG032449), the National Science Foundation grant #SES-0643037 (Einav), the Alfred P. Sloan Foundation (Finkelstein), the John D. and Catherine T. MacArthur Foundation Network on Socioeconomic Status and Health, and Alcoa, Inc. (Cullen), and the U.S. Social Security Administration. This research was supported by the U.S. Social Security Administration through grant #10-M-98363-1-02 to the National Bureau of Economic Research as part of the SSA Retirement Research Consortium. The …ndings and conclusions expressed are solely those of the author(s) and do not represent the views of SSA, any agency of the Federal Government, or the NBER.

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