Risk attitudes and migration decisions
利用1997-2015年美国PSID面板数据，研究发现更愿意承担风险的人更可能跨都市区迁移，且对远距离迁移影响更大，通过联立方程模型排除了反向因果。
Abstract This paper analyzes the relationship between individuals' attitudes towards risk and their decision to migrate. We consider migration in the United States across metropolitan statistical areas (MSAs) between 1997 and 2015, based on data from the Panel Study of Income Dynamics (PSID). Using random‐effects specifications, we find that being relatively more willing to take risks is positively and significantly related to cross‐MSA migration. For cross‐state migration and migration across larger distances, risk attitudes are slightly more important. A recursive bivariate probit model of simultaneous equations addresses the potential endogenous nature of attitudes towards risk and allows ruling out reverse causality.