Risk Aversion and Trade‐Union Membership*
利用德国社会经济面板数据，研究发现风险厌恶程度越高的全职员工越可能加入工会，这种关系在男性和西德地区尤为显著。
Abstract If trade unions provide only their members with insurance against income variations, as a private good, this insurance will provide a stronger incentive for more risk‐averse employees to become union members. Using data from the German Socio‐Economic Panel (SOEP) and various direct measures of individual risk attitudes, we find robust evidence of a positive relationship between risk aversion and the likelihood of union membership for full‐time employees. This association is particularly strong for males and in West Germany.