Effects of Marriage and Children on Financial Risk Tolerance: A Synthesis of Family Development and Prospect Theory

  title={Effects of Marriage and Children on Financial Risk Tolerance: A Synthesis of Family Development and Prospect Theory},
  author={Barbara Chaulk and Phyllis J. Johnson and Richard A. Bulcroft},
  journal={Journal of Family and Economic Issues},
Family development and prospect theory were used as a framework to predict variability in individuals' subjective financial risk tolerance within distinct family structures. Gender, age, and income were expected to interact with the main effects of family structure (marital status and children). Theory-generated hypotheses were examined in Study 1 (data from university housing respondents, n = 76) and Study 2 (the 1998 Survey of Consumer Finances, n = 4,305). One family structure main effect… Expand
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