Scandinavian Working Papers in Economics
Working Paper Series,
Uppsala University, Department of Economics
No 2017:11: Individual’s Risk Attitudes in sub-Saharan Africa: Determinants and Reliability of Self-reported Risk in Burkina Faso
Mohammad Sepahvand () and Roujman Shahbazian ()
Additional contact information
Mohammad Sepahvand: Department of Economics, Postal: Uppsala University, P.O. Box 513, SE-751 20 Uppsala, Sweden
Roujman Shahbazian: Individual’s Risk Attitudes in sub-Saharan Africa: Determinants and Reliability of Self-reported Risk in Burkina Faso
Abstract: Risk taking is an important topic in Africa, as access to financial institutions and social security is scarce. Data on risk attitudes in Africa is limited and the available data collected might not be reliable. We investigate the determinants of risk attitudes and the reliability of survey data in a sub-Saharan country, like Burkina Faso. Using a large representative panel survey of 31 677 individuals, we analyze the determinants and the test-retest reliability for different risk attitudes in general, traffic and financial matters. Our results show that determinants such as individual’s sex and age are significantly associated with willingness to take risk. Women have more reliable risk measures compared to men, older individuals have more reliable risk measures than younger individuals and those with high education exhibit a higher reliability in terms of their self-reported risk attitude compared to people with low education. Reliability differs across risk attitudes; risk-taking in traffic has the highest
Keywords: risk attitudes; determinants of risk-taking; test-retest reliability; Burkina Faso
43 pages, November 6, 2017
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