Family changes and the willingness to take risks

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<title>Family changes and the willingness to take risks</title>
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<abstract displayLabel="Summary">Economic decisions frequently entail choices in the presence of risk. Decisions to purchase insurance, to save, to invest, and to pursue an education are all choices that may involve some degree of risk, just to name a few. We analyze the impact of changes in family structure on individuals' willingness to take risk (WTR). We find evidence that separating from a partner is associated with an increase in the WTR; while the birth of a first child is associated with a decrease in the WTR. Interestingly, these changes are temporary and the WTR returns to the level observed before the family event within 12 years following the event. Married individuals are more risk averse and this does not change with the passage of time of the actual wedding. Providing long term care is also associated with a higher WTR.

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<accessCondition type="use and reproduction">La copia digital se distribuye bajo licencia "Attribution 4.0 International (CC BY NC ND 4.0)"</accessCondition>
<note type="statement of responsibility">Mark J. Browne...[et.al.]</note>
<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080591182">
<topic>Gerencia de riesgos</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080571498">
<topic>Calidad de vida</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080547233">
<topic>Familias</topic>
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<classification authority="">7</classification>
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<title>The Journal of risk and insurance</title>
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<publisher>Nueva York : The American Risk and Insurance Association, 1964-</publisher>
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<identifier type="issn">0022-4367</identifier>
<identifier type="local">MAP20077000727</identifier>
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<text>07/02/2022 Volumen 89 Número 1 - febrero 2022 , p. 187-209</text>
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