Depression, Risk Preferences, and Risk-Taking Behavior
利用德国大型家庭调查数据，分析抑郁发作如何影响风险偏好和风险承担行为，发现抑郁与自述风险偏好及情境依赖的风险行为相关，差异主要由控制点、乐观和信任等行为特质解释。
Depression affects the way that people process information and make decisions, including those involving risk and uncertainty. Our objective is to analyze the way that depressive episodes shape risk preferences and risk-taking behaviors. Using large, representative German household data we find no disparity in the behavioral risk preferences of the mentally well vs. depressed; yet depression is related to people’s stated risk preferences and risk-taking behaviors in ways that are context-specific. We develop a conceptual model and show that differences in risk-taking behavior are largely explained by depression-related disparities in behavioral traits such as locus of control, optimism and trust.