Depression and Risk-Taking Behaviors in the Financial Domain
| Risky Assets | Risky Assets | No Suppl. Health Insurance | No Suppl. Health Insurance | |
|---|---|---|---|---|
| Depression | –0.131*** (0.011) | –0.029*** (0.011) | 0.108*** (0.013) | 0.034** (0.013) |
| Average partial effect | –0.046*** (0.004) | –0.009*** (0.003) | 0.029*** (0.003) | 0.008** (0.003) |
| Controls | No | Yes | No | Yes |
| Obs. | 132,597 | 132,597 | 114,235 | 114,235 |
| Persons | 38,103 | 38,103 | 35,244 | 35,244 |
| Pseudo R2 | 0.002 | 0.127 | 0.001 | 0.100 |
↵Notes: SOEPv33.1i 2002–2016. Risky assets = 1 if household owns risky assets (that is, securities other than fixed interest securities, such as shares and variable bonds). Mean = 0.314. No suppl. health insurance = 1 if not currently covered by a supplementary private health insurance policy. Mean = 0.805. Controls include: sex, age, age2, log monthly household income, own and parents’ upper secondary education or higher, household type (single person, couple without children, single parent, couple with children <16y, couple with children 16y+, couple with children <16y and 16y+, multigeneration, other combination [ref. group]), German born, and year dummies. Average partial effects are the sample mean change in the predicted probability when going from Depression = 1 to Depression = 0. Standard errors are in parentheses and are clustered at the individual level. Standard errors for average partial effects are calculated using the delta method. **p < 0.05, ***p < 0.01.