SAFE-ICIR Research Seminar: Risk Attitudes, Family Transitions and the Economy
The event is co-organized with the International Center for Insurance Regulation (ICIR).
Speaker: Mark Browne, Ph.D., Professor at the School of Risk Management, Insurance and Actuarial Science, St. John’s University in New York
Abstract: We use the German Socio Economic Panel to analyze the impact of life changing events on individuals’ risk tolerance levels over time. The dataset follows a representative sample of the German population. We find substantial changes in risk attitudes over time with respect to getting married or separating from a partner, giving birth to a child for the first time, and providing care to a family member. Furthermore, we find that these effects are associated with household structure. In particular, we observe that the risk tolerance of individuals that are referred as the head of household demonstrates stronger changes associated with life events while children living in the household moderate the changes associated with the dissolution of households.
Faculty, graduate students, and researchers at Goethe University as well as interested researchers from the area are cordially invited to attend at no cost. Registration is not required.