author={Martin Halek and Joseph G. Eisenhauer},
  journal={Journal of Risk and Insurance},
ABSTRACT This article uses life insurance data to estimate the Pratt-Arrow coefficient of relative risk aversion for each of nearly 2,400 households. Attitudinal differences toward pure risk are then examined across demographic subgroups. Additionally, differences in speculative risk-taking are examined across demographic groups based on survey responses and compared with the results on pure risk aversion. INTRODUCTION In the mid-1960s, John Pratt and Kenneth Arrow introduced the now-familiar… Expand

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