@article {6758,
	title = {Demography of Risk Aversion},
	journal = {Journal of Risk and Insurance},
	volume = {68},
	year = {2001},
	pages = {1-24},
	publisher = {68},
	abstract = {This paper uses HRS data to empirically estimate the model of risk aversion and examines attitudes to both pure and speculative risks across various segments of the population. Results show that those individuals that had already engaged in the risk-taking behavior of migrating across national borders (i.e.- non-natives) are significantly more inclined than natives to both pure and speculative risks. Similarly, those who are currently employed exhibit a significantly greater willingness to gamble their current income for a chance to double it. These findings, along with the fact that women seem to be significantly more risk adverse than men, are in agreement with earlier studies and were expected. Other results, that were not as expected, show that the self-employed are significantly more adverse to pure risks than those employed by others, yet the two groups are not significantly different in their attitudes toward speculative risks. Similarly, education seems to increase aversion to pure risks but also increases the willingness to accept speculative risks.  In terms of the causal relationship between risk aversion and personal characteristics, it is clear that purely demographic variables affect an individual s degree of risk aversion and that differences in religious beliefs affect attitudes toward risk-taking. Other variables produced statistically significant relationships, but causality cannot be determined.},
	keywords = {Demographics, Insurance, Net Worth and Assets, Risk Taking},
	doi = {10.2307/2678130},
	author = {Halek, Martin and Eisenhauer, Joseph G.}
}
@article {6653,
	title = {Prudence, Risk Aversion, and the Demand for Life Insurance},
	journal = {Applied Economics Letters},
	volume = {6},
	year = {1999},
	pages = {239-242},
	publisher = {Vol. 6},
	abstract = {Prudence is the idea of taking precautionary measures when one encounters a situation of risk, whereas risk aversion is a dislike and avoidance of risk.  The goal of this article is to create a ratio of prudence to risk aversion.  This was done by using survey data from Wave 1 (1992) of the Health and Retirement Study and applying it to a model of the expected utility of life insurance.  It is found that as people near retirement the amount of coverage they receive by insurers decreases.  Households that have term insurance on the head of the household tend to have greater risk aversion then those households that do not have such insurance.},
	keywords = {Insurance, Risk Taking},
	doi = {10.1080/135048599353429},
	author = {Eisenhauer, Joseph G. and Halek, Martin}
}
