Beschreibung:
This study analyses the relationship between the willingness to take risk (WTR) of a sentimental couple and its individual components. Using survey-based individual and joint measures of generic risk tolerance for 128 couples, we estimate a joint model for explaining female, male and couple WTR. We control for socio-demographic characteristics and personality traits in the individual risk equations and for the length of the relationship in the joint risk equation. We find that individual WTR is related to personality more than to socio-demographic variables. Couple WTR seems equally determined by the individual WTR of each partner, once endogeneity arising from unobservable common factors is taken into account. Findings hold under different modelling approaches