How General Are Risk Preferences? Choices under Uncertainty in Different Domains
分析了个人在五种雇主提供的保险决策和一种401(k)投资决策中是否表现出系统性模式，发现保险决策存在跨领域的普遍成分，但与401(k)资产配置的关系较弱，约30%的样本在所有六个领域的选择可能一致。
We analyze the extent to which individuals' choices over five employer-provided insurance coverage decisions and one 401(k) investment decision exhibit systematic patterns, as would be implied by a general utility component of risk preferences. We provide evidence consistent with an important domain-general component that operates across all insurance choices. We find a considerably weaker relationship between one's insurance decisions and 401(k) asset allocation, although this relationship appears larger for more “financially sophisticated” individuals. Estimates from a stylized coverage choice model suggest that up to 30 percent of our sample makes choices that may be consistent across all 6 domains.