(1) | (2) | (3) | |
---|---|---|---|

Panel A: Nonparametric Logit Regressions | |||

Depression | 1.187 (0.126) | 1.156 (0.127) | 1.222 (0.146) |

Controls | No | Yes | Yes |

Observations | 3,640 | 3,508 | 2,980 |

Clusters | 910 | 877 | 745 |

Panel B: Structural 1 Model Estimates | |||

Relative risk aversion ( equation) | |||

Depression | –0.095 (0.062) | –0.086 (0.061) | –0.101 (0.057) |

Constant | 0.182 (0.025) | –0.107 (0.137) | –0.012 (0.145) |

Probability weighting factor ( equation) | |||

Depression | 0.093 (0.067) | 0.091 (0.067) | 0.111 (0.063) |

Constant | 0.832 (0.027) | 0.828 (0.027) | 0.730 (0.023) |

Controls | No | Yes | Yes |

Obs. | 10,920 | 10,524 | 8,940 |

Persons | 910 | 877 | 745 |

↵Notes: SOEP-IS.2016.2 2014. Controls include the following: sex, age, age

^{2}, 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]), and German born. Nonparametric regressions are binary logit regressions predicting whether the option chosen involved uncertainty (that is, not Option A). Odds ratios are presented. The equation in the structural model is the coefficient of relative risk aversion for a CRRA utility function (see Appendix B in the Online Appendix, Equation B.1); the equation is the probability weighting factor in Equation B.3. Results in Column 3 exclude those who chose Option C in Scenario 4 (see Table 1). Standard errors are in parentheses and are clustered at the individual level. **p*< 0.10, ****p*< 0.01.