Risk Preferences and Rural Self‐Employment Behavior: Theory and Empirical Evidence From China
基于均值-方差分析，构建理论模型并利用中国农村716份实地数据，发现风险厌恶程度越高的村民越少从事高风险自雇，农业风险会加剧这一关系。
ABSTRACT This study examines the nexus between risk preferences and risky rural self‐employment behavior based on a mean‐variance (MV) analysis. A simple theoretical model is developed to demonstrate rural labor allocation decisions and multiple risk‐bearing by villagers who differ in risk preferences. Using 716 field data collected from incentivized lottery‐choice tasks and in‐depth interviews in rural China, we find that villagers with higher degrees of risk aversion are less likely to engage in risky self‐employment practices, and this relationship is exacerbated under conditions of agricultural risk. Aside from risk preferences, in addition, villagers’ age, gender, health status, and household‐level characteristics, such as internet accessibility, are also significantly relevant to the self‐employment propensity.