Study Dohmen et al. (2005): study DE

Public

17+ aged, general public, Germany, 2004

Survey name

DE-SOEP 2004

Sample

Respondents

N = 22019

Non Response

Assessment

Interview: face-to-face

Correlate

Authors's Label

Willingness to take risks in general

Our Classification

Remarks

In order to validate the survey data they ran a field experiment. The Kolmogorov-Smirnov-test does not reject the null-hypothesis that the answers to the survey risk questions in the 2 samples have the same distribution. The results lead to the conclusion that the survey measures are shown to be behaviorally relevant, in the sense that they predict actual risk-taking behavior in their field experiment.

Operationalization

Self-report on single question:
"How do you see yourself: Are you generally a person who is fully prepared to take risks or do you try to avoid taking risks? Please tick a box on the scale, where the value 0 means 'unwilling to take risks' and the value 10 means: 'fully prepared to take risk'."

converted to the dichotomy:
0 unwilling to take risks
1 willing to take risks

Observed Relation with Happiness