Risk preferences and occupational sorting: Combining survey and top-coded administrative wage data

  • Daniel Pollmann Daniel Pollmann

We find that the risk aversion of individuals in a household survey (SOEP) is negatively correlated with the wage dispersion in their occupation, as estimated on an administrative wage data set (IABS). Due to top-coding of wages, a three-step censored quantile regressionapproach is used, while the estimation of occupation-level dispersion relies on the differences of group coefficient estimates at different quantiles.

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