Do Risk Preferences Change? Evidence from Panel Data before and after the Great East Japan Earthquake

Previously circulated as "Do Risk Preferences Change? Evidence from Panel Data before and after the Great East Japan Earthquake." The authors thank Fernando Aragon, Daniel Benjamin, Prashant Bharadwaj, Michael Callen, John Cawley, Pascaline Dupas, Catherine Eckel, Hiroyuki Kasahara, Jaimie Lien, Krishna Pendakur, Luigi Pistaferri, Yasuyuki Sawada, Kensuke Teshima, Eric Weese, and seminar participants at the Canadian Economic Association Meeting, Chukyo University, Colgate University, Cornell PAM, CUHK, GRIPS, HKUST, ISER, Keio University, Kyoto Summer Workshop on Applied Economics, NBER Japan meeting, Osaka University, Otaru University of Commerce, Simon Fraser University, Tohoku University, Tokyo Labor Economic Workshop, University of Tokyo, The Society for Risk Analysis Annual Conference, 20th International Panel Data Conference (at Hitotsubashi University), and 14th Panel Survey Conference (at Institute for Research on Household Economics) for their suggestions. This research utilizes the micro data from the Preference Parameters Study of Osaka Universityʼs 21st Century COE Program “Behavioral Macrodynamics Based on Surveys and Experiments” and its Global COE project “Human Behavior and Socioeconomic Dynamics” (investigators: Yoshiro Tsutsui, Fumio Ohtake, and Shinsuke Ikeda). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• July 22, 2015
• October 6, 2015