Table 4

Risk Attitudes and Future Migration Decisions

First Migration in 2009 or Later (After Risk Measurement)Migration Last Year (2008) (Before Risk Measurement)
16–32
(1)		16–34
(2)		16–36
(3)		16–60
(4)		16–32
(5)		16–34
(6)		16–36
(7)		16–60
(8)
wtRisk0.014**
(0.007)		0.016***
(0.006)		0.014***
(0.005)		0.003**
(0.002)		0.015**
(0.007)		0.012**
(0.006)		0.010**
(0.005)		0.005***
(0.002)
Individual & HH controlsXXXXXXXX
County fixed effectsXXXXXXXX
Observations3955096653,9799241,1171,3705,992
R-squared0.580.500.430.150.480.460.440.31

  • Notes: This table tests whether self-reported risk attitudes measured at the beginning of year 2009 predict successive first-time migration decisions. In Columns 1–4 the dependent variable is an indicator for the individual having migrated for the first time in year 2009, 2010, or 2011, while in Columns 5–8 the dependent variable is the usual indicator for having migrated last year, that is, in year 2008. Individual controls are age, age-squared, a dummy for male, years of education, a dummy for married, relation with household (HH) head dummies, order of birth, number of siblings, and number of children. The household controls are household size and structure (number of family members under 16, in the labor force, and older than 60) and per capita house value (in logs). All regressions include 82 county fixed effects. The sample includes all individuals in our estimating sample who also reported information about the year of first migration, and whose age is within the indicated range. Robust standard errors are clustered at the household level and reported in brackets.

  • * p < 0.1,

  • ↵** p < 0.05,

  • ↵*** p < 0.01.