The Factors Associated with Risk and Time Preferences: Evidence from Australian Data
Risk and time preferences are crucial to economic growth because they can influence people's decisions about saving and investing. These preferences may partially explain inequality, the reason why the poor will always be poor. The aims of this study is to investigate the potential factors cont...
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| Format: | Article |
| Language: | English |
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Universitas Brawijaya
2022-12-01
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| Series: | Journal of Interdisciplinary Socio Economic and Community Study |
| Subjects: | |
| Online Access: | https://jiscos.ub.ac.id/index.php/jiscos/article/view/88 |
| _version_ | 1797789225506045952 |
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| author | Angelita Titis Pertiwi |
| author_facet | Angelita Titis Pertiwi |
| author_sort | Angelita Titis Pertiwi |
| collection | DOAJ |
| description | Risk and time preferences are crucial to economic growth because they can influence people's decisions about saving and investing. These preferences may partially explain inequality, the reason why the poor will always be poor. The aims of this study is to investigate the potential factors contributing to the heterogeneity of risk-taking and patient behavior in Australia using cross-sectional data from 2019. This investigation looks for the association between risk-taking and patient behavior and sociodemographic characteristics using the OLS (Ordinary Least Squares) assessment. Age, gender, education, socio-economic index, household formations, indigenous individuals, spoken language at home for daily conversation, and country of birth are the variables. The key finding in terms of patience is that people with higher levels of education, people who live in areas with higher levels of socio-economic advantage, and individuals who live in a home with couple-family have higher levels of time preference. Moreover, persistence is adversely related with native endlessly individuals brought into the world in principally English-talking foundation nations. As far as hazard inclinations, the primary outcome is that ladies are more gamble unwilling than men. Besides, risk-taking way of behaving is decidedly related with individuals living in regions encountering lower levels of financial drawback, individuals living in a solitary parent family, and individuals brought into the world in basically non-English talking foundation nations. |
| first_indexed | 2024-03-13T01:47:41Z |
| format | Article |
| id | doaj.art-88dd80c113664773bb53f783749b12c6 |
| institution | Directory Open Access Journal |
| issn | 2809-753X 2809-395X |
| language | English |
| last_indexed | 2024-03-13T01:47:41Z |
| publishDate | 2022-12-01 |
| publisher | Universitas Brawijaya |
| record_format | Article |
| series | Journal of Interdisciplinary Socio Economic and Community Study |
| spelling | doaj.art-88dd80c113664773bb53f783749b12c62023-07-03T03:13:34ZengUniversitas BrawijayaJournal of Interdisciplinary Socio Economic and Community Study2809-753X2809-395X2022-12-01229311210.21776/jiscos.02.02.0569The Factors Associated with Risk and Time Preferences: Evidence from Australian DataAngelita Titis Pertiwi0Department of Economics, Universitas Kristen Satya Wacana, Indonesia & College of Business and Economics, Australian National University, AustraliaRisk and time preferences are crucial to economic growth because they can influence people's decisions about saving and investing. These preferences may partially explain inequality, the reason why the poor will always be poor. The aims of this study is to investigate the potential factors contributing to the heterogeneity of risk-taking and patient behavior in Australia using cross-sectional data from 2019. This investigation looks for the association between risk-taking and patient behavior and sociodemographic characteristics using the OLS (Ordinary Least Squares) assessment. Age, gender, education, socio-economic index, household formations, indigenous individuals, spoken language at home for daily conversation, and country of birth are the variables. The key finding in terms of patience is that people with higher levels of education, people who live in areas with higher levels of socio-economic advantage, and individuals who live in a home with couple-family have higher levels of time preference. Moreover, persistence is adversely related with native endlessly individuals brought into the world in principally English-talking foundation nations. As far as hazard inclinations, the primary outcome is that ladies are more gamble unwilling than men. Besides, risk-taking way of behaving is decidedly related with individuals living in regions encountering lower levels of financial drawback, individuals living in a solitary parent family, and individuals brought into the world in basically non-English talking foundation nations.https://jiscos.ub.ac.id/index.php/jiscos/article/view/88risk aversionrisk preferencespatiencetime preferences |
| spellingShingle | Angelita Titis Pertiwi The Factors Associated with Risk and Time Preferences: Evidence from Australian Data Journal of Interdisciplinary Socio Economic and Community Study risk aversion risk preferences patience time preferences |
| title | The Factors Associated with Risk and Time Preferences: Evidence from Australian Data |
| title_full | The Factors Associated with Risk and Time Preferences: Evidence from Australian Data |
| title_fullStr | The Factors Associated with Risk and Time Preferences: Evidence from Australian Data |
| title_full_unstemmed | The Factors Associated with Risk and Time Preferences: Evidence from Australian Data |
| title_short | The Factors Associated with Risk and Time Preferences: Evidence from Australian Data |
| title_sort | factors associated with risk and time preferences evidence from australian data |
| topic | risk aversion risk preferences patience time preferences |
| url | https://jiscos.ub.ac.id/index.php/jiscos/article/view/88 |
| work_keys_str_mv | AT angelitatitispertiwi thefactorsassociatedwithriskandtimepreferencesevidencefromaustraliandata AT angelitatitispertiwi factorsassociatedwithriskandtimepreferencesevidencefromaustraliandata |