Correlational findings

Study Dohmen et al. (2005): study DE

17+ aged, general public, Germany, 2004
Survey name
DE-SOEP 2004
N = 22019
Non Response
Interview: face-to-face


Authors's Label
Willingness to take risks in general
Our Classification
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.
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

Happiness Measure Statistics Elaboration / Remarks O-SLW-c-sq-n-11-d b = +.35 p < .01 B controlled for:
- Gender
- Age
- Height
- Parental education
- Log household wealth
- Log household debt
- Log of current gross monthly household income
- Location of residence in 1989
O-SLW-c-sq-n-11-d OPRC = + p < .01 (+0.028)

OPRC controlled for:
- Gender
- Age
- Education of Parents
- Height (in cm)
- Weight (in kg)
- Marital status
- Number of Children born after 1987
- Religion
- Location of Residence in 1989
- Current Location of Residence
- Nationality
- Education
- Subjective Health Status
- Smoker
- Enrollment in School or University
- Domain in Public Sector
- Domain in Private Sector
- Self-employment
- Occupation Status
- Log (Household Wealth in 2002)
- Log (Household Dept in 2002)
- Log (Household Income 2004)
- Month of Interview