위험관리 | Cases and Studies of Risk Management in Lottery & Gambling | 危險管理
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- Article] Risk preference and employment contract type
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DocNo of ILP: 4980
Doc. Type: Article
Title: Risk preference and employment contract type
Authors: Brown, S; Farrell, L; Harris, MN; Sessions, JG
Full Name of Authors: Brown, Sarah; Farrell, Lisa; Harris, Mark N.; Sessions, John G.
Keywords by Author: ordered generalized extreme value model; performance-related pay; risk preference; self-employment
Keywords Plus: SELF-EMPLOYMENT; ENTREPRENEURSHIP; HETEROGENEITY; TRADEOFFS; AVERSION; CHOICE
Abstract: We explore the possibility that a systematic relationship exists between employment within a particular type of contract and risk preference. We exploit a set of proxies for risk preference, whereby some of the proxies capture risk loving behaviour (expenditure on gambling, smoking and alcohol) whereas others capture risk averse behaviour (expenditure on life and contents insurance, and unearned income). The empirical analysis, based on pooled cross-section data from the UK Family Expenditure Survey, 1997-2000, provides evidence of a systematic relationship between employment contract type and risk preference, with, for example, self-employed workers being more or less likely to engage in the consumption of 'risky' or financial security products respectively. The results are based on the ordered generalized extreme value model, a relatively infrequently used discrete choice model, which allows for ordering and correlation in the alternatives observed.
Cate of OECD: Sociology
Year of Publication: 2006
Business Area: gamble
Detail Business: gamble
Country: England
Study Area: industry, production, prediction, prediction, preference, drink
Name of Journal: JOURNAL OF THE ROYAL STATISTICAL SOCIETY SERIES A-STATISTICS IN SOCIETY
Language: English
Country of Authors: Univ Coll Dublin, Dept Econ, Dublin 2, Ireland; Univ Sheffield, Sheffield S10 2TN, S Yorkshire, England; Monash Univ, Clayton, Vic 3168, Australia; Univ Bath, Bath BA2 7AY, Avon, England
Press Adress: Farrell, L (reprint author), Univ Coll Dublin, Dept Econ, Dublin 2, Ireland.
Email Address: LisaFarell@ucd.ie
Citaion:
Funding:
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Number of Citaion: 30
Publication: BLACKWELL PUBLISHING
City of Publication: OXFORD
Address of Publication: 9600 GARSINGTON RD, OXFORD OX4 2DQ, OXON, ENGLAND
ISSN: 0964-1998
29-Character Source Abbreviation: J ROY STAT SOC A STA
ISO Source Abbreviation: J. R. Stat. Soc. Ser. A-Stat. Soc.
Volume: 169
Version:
Start of File: 849
End of File: 863
DOI: 10.1111/j.1467-985X.2006.00424.x
Number of Pages: 15
Web of Science Category: Social Sciences, Mathematical Methods; Statistics & Probability
Subject Category: Mathematical Methods In Social Sciences; Mathematics
Document Delivery Number: 084YC
Unique Article Identifier: WOS:000240569300011
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