Can Risk‐Averse Households Make Risky Investments? The Role of Trust in Others
利用欧洲健康、老龄化和退休调查数据，研究发现风险容忍或风险厌恶但信任他人的个体更可能投资风险资产，且该效应在斯堪的纳维亚和地中海国家存在差异。
Abstract In this paper, using data from the Survey on Health, Ageing and Retirement in Europe (SHARE, 2006 and 2013 waves), we illustrate the link between individuals’ attitudes to financial risk combined with their willingness to trust others, and their investments in risky assets. Individuals who display either risk tolerance alone or – to a lesser extent – risk aversion and trust more frequently decide to buy risky assets. The comparison between Scandinavian and Mediterranean countries indicates that trust plays qualitatively different roles depending on the prevailing combination of risk attitude and trust in the area being studied.