Subjective risk tolerance and numeracy skills: a study in Brazil
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Universidade Federal de Minas Gerais
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Artigo de periódico
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Resumo
This study is an attempt to identify the influence of numeracy skills on subjective risk tolerance in a group
of Brazilian university students (n = 308). The primary findings describe a sample with a high level
of numeracy skills and medium risk tolerance. It was observed that higher levels of numeracy skills do
not correspond to a greater risk tolerance, probably because numeracy skills make people more cautious
by giving them insight into the true risks to which they would be exposing themselves. This result was
reinforced by a logistic regression analysis, which indicated that lower levels of numeracy were linked
with greater predisposition to risk. Also, additional findings were that women had a lower risk tolerance,
irrespective of numeracy skills, and that the exposition to financial education courses did not impact on
risk behavior.
Abstract
Assunto
Administração, Risco
Palavras-chave
Risk tolerance, Risk aversion, Numeracy
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Curso
Endereço externo
https://www.sciencedirect.com/science/article/pii/S221463501730028X