Mediation Results for the Depression-Gap in Risk-Taking Behaviors in the Financial Domain
| Risky Assets | Risky Assets | No Supp. Health Insurance | No Supp. Health Insurance | |
|---|---|---|---|---|
| Depression | –0.047** (0.018) | –0.012 (0.018) | 0.030 (0.020) | –0.004 (0.020) |
| Average partial effect: | ||||
| Pr(Y = 1) | –0.014** (0.005) | –0.004 (0.005) | 0.008 (0.006) | –0.001 (0.006) |
| Percentage contribution to mediation: | ||||
| Budget constraints and discounting | ||||
| Log permanent income | 9.06 | 5.78 | ||
| Patience | –7.25 | –13.41 | ||
| Time-inconsistent preferences | ||||
| Internal locus of control | 82.64 | 118.75 | ||
| Nonimpulsivity | –4.90 | 14.59 | ||
| Conscientiousness | –33.36 | –17.41 | ||
| Emotion and expectations | ||||
| Emotional stability | –33.37 | –28.73 | ||
| Confidence in future | 32.00 | 19.01 | ||
| Prediction accuracy | 4.87 | 0.44 | ||
| Trust | 24.01 | 15.10 | ||
| Total | 73.69 | 114.13 | ||
| Model | Reduced | Full | Reduced | Full |
| Obs. | 51,178 | 51,178 | 42,707 | 42,707 |
| Persons | 15,801 | 15,801 | 13,583 | 13,583 |
↵Notes: SOEPv33.1i 2008–2016. Controls are included in each estimation. Standard errors are in parentheses and are clustered at the individual level. **p < 0.05, ***p < 0.01.