Are risk attitudes robust? Qualitative evidence before and after a business cycle inflection

John RAFTERY, Josephine CSETE, King Fai Sammy HUI

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3 Citations (Scopus)

Abstract

Attitudes to the monetary risks associated with business decisions are thought to vary in response to at least three identifiable stimuli: the amount of money involved, background economic conditions and the framing of the decision. This paper reports a study of peoples' attitude to risk before and after a real turning point in the real business cycle. This work sheds light on the extent to which (i) risk attitudes remain robust when economic conditions change, (ii) risk attitude is influenced by whether the choice problem is concerned with losses or with gains, and (iii) risk attitude may be subordinated to some other dominating objective. Copyright © 2001 Taylor & Francis Ltd.
Original languageEnglish
Pages (from-to)155-164
JournalConstruction Management and Economics
Volume19
Issue number2
DOIs
Publication statusPublished - 2001

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Industry
Economics
Risk attitude
Business cycles
Economic conditions
Turning point
Real business cycles

Citation

Raftery, J., Csete, J., & Hui, S. K.-F. (2001). Are risk attitudes robust? Qualitative evidence before and after a business cycle inflection. Construction Management and Economics, 19(2), 155-164. doi: 10.1080/01446190150505081

Keywords

  • Risk attitude business cycles