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Related Experiment Video

Updated: Apr 28, 2026

Experimental Protocol for Manipulating Plant-induced Soil Heterogeneity

Experimental Protocol for Manipulating Plant-induced Soil Heterogeneity

Published on: March 13, 2014

Heterogeneity and Risk Sharing in Village Economies.

Pierre-André Chiappori¹, Krislert Samphantharak², Sam Schulhofer-Wohl³

¹Columbia University.

Quantitative Economics

|June 17, 2014

Summary

This summary is machine-generated.

This study estimates household risk preferences using consumption data, revealing significant variation. While village-level risk reduction benefits most, it may harm less risk-averse households absorbing the risk.

Keywords:

Complete markets Heterogeneity Insurance Risk preferences

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An R-Based Landscape Validation of a Competing Risk Model

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Last Updated: Apr 28, 2026

Experimental Protocol for Manipulating Plant-induced Soil Heterogeneity

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Published on: March 13, 2014

An R-Based Landscape Validation of a Competing Risk Model

An R-Based Landscape Validation of a Competing Risk Model

Published on: September 16, 2022

Area of Science:

Behavioral Economics
Development Economics
Econometrics

Background:

Household consumption data can reveal risk preferences.
Understanding risk aversion is crucial for economic policy.
Previous models often assumed uniform risk preferences.

Purpose of the Study:

To directly estimate household risk preferences using panel data.
To measure heterogeneity in risk aversion within Thai villages.
To test a full risk-sharing model incorporating this heterogeneity.

Main Methods:

Utilized panel data on household consumption.
Employed a full risk-sharing model.
Tested the model allowing for heterogeneous risk preferences.

Main Results:

Substantial and statistically significant heterogeneity in estimated risk preferences was found.
The model could not reject the hypothesis of full insurance.
Estimated risk preferences were independent of wealth and other characteristics, aligning with complete-markets theory.

Conclusions:

Household risk preferences are significantly heterogeneous.
Policy interventions to mitigate risk must consider this heterogeneity.
While average households benefit from risk reduction, specific subgroups may incur losses.