Download This PaperA Cross-Cultural Study in Risk Tolerance: Comparing Chinese and Americans
30 Pages Posted: 24 Oct 2006
Date Written: December 2005
Abstract
In this research we compare the risk preference attitudes and behavior between a sample of 470 Chinese workers and a sample of 2,671 Americans from the Survey of Consumer Finances. Our findings show that Chinese in our sample are more risk tolerant than Americans in their financial decisions, both in attitudes and behavior. Alternative explanations such as a lack of knowledge about the relationship between risk and return among the current generation Chinese are also explored. Theoretical and practical implications of this research are discussed.
Keywords: risk tolerance, Cultural comparison, Chinese consumers, American consumers
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Perceived Risk Attitudes: Relating Risk Perception to Risky Choice
By Elke U. Weber and Richard A Milliman
-
A Domain-Specific Risk-Attitude Scale: Measuring Risk Perceptions and Risk Behaviors
By Elke U. Weber, Ann-renee Blais, ...
-
By Christopher K. Hsee and Elke U. Weber
-
A Fundamental Prediction Error: Self-Others Discrepancies in Risk Preference
By Christopher K. Hsee and Elke U. Weber
-
By Elke U. Weber, Sharoni Shafir, ...
-
Assessing the Construct Validity of Risk Attitude
By Joost M. E. Pennings and A. Smidts
-
Cross-National Differences in Risk Preference and Lay Predictions
By Christopher K. Hsee and Elke U. Weber
-
By Elke U. Weber and Christopher K. Hsee
-
A Theory of Perceived Risk and Attractiveness
By Elke U. Weber, Carolyn Anderson, ...
