@TechReport{dp-508,
  author        = {Gloede, Oliver and Menkhoff, Lukas and Waibel, Hermann},
  astring       = {Oliver Gloede and Lukas Menkhoff and Hermann Waibel},
  title         = {Shocks, individual risk attitude, and vulnerability to
                  poverty among rural households in Thailand and Vietnam},
  month         = {October},
  year          = {2012},
  pages         = {51},
  size          = {298},
  number        = {508},
  language      = {en},
  keywords      = {Risk attitude, shocks, vulnerability, risk perception,
                  behavior towards risk, Southeast Asia},
  jelclass      = {O12, D81, R2},
  abstract      = {We examine whether the experience of shocks influences
                  individual risk attitude. We measure risk attitude via a
                  simple survey item, compiled among more than 4,000
                  households in Thailand and Vietnam. The experience of
                  adverse shocks, which is typical for poor and vulnerable
                  households, is related to a higher degree of risk aversion,
                  even when controlled for a large set of socio-demographic
                  variables. Therefore, shocks perpetuate vulnerability to
                  poverty via their effect on risk attitude. We extend this
                  general finding to various categories of shocks and find
                  differences between Thailand and Vietnam. This suggests
                  that risk-coping strategies profit from case-specific
                  design.}
}