Table 12

Is Experimental Risk-Tolerance Correlated with Real Life Risk-Taking?

Dependent Variable:Opened New BusinessChanged JobsAdopted New Technology
123456
Risk-tolerant0.03
(0.02)*
0.03
(0.02)
0.03
(0.02)*
0.03
(0.02)
0.003
(0.02)
−0.001
(0.02)
Education0.01
(0.002)***
0.005
(0.002)**
0.01
(0.003)***
R20.010.030.010.010.010.02
District fixed effects    Y    Y    Y    Y    Y    Y
Observations        1,432        1,432        1,432        1,432        1,432        1,432
  • Notes: We report results from OLS regressions where the dependent variable is opened a business in the past two years (Column 1, mean is 0.08); changed jobs in last two years (Column 2, mean is 0.08); and adopted new technology in past two years (Column 3, mean is 0.14). All specifications include districts fixed effects and no other controls except for education in Columns 2, 4, and 6. ***indicates significance at 1 percent level, ** at 5 percent level, * at 10 percent level.