Measurement of investor risk aversion inequality: method and application in the Tunisian context

Authors

  • Jihene JEBENIANI GOUIDER Ecole Superieure de Commerce de Tunis, Tunisie.
  • Mokhtar KOUKI Ecole Superieure de la Statistique et de l’Analyse de l’Information de Tunis,Tunisie.

DOI:

https://doi.org/10.59051/joaf.v3i1.13

Abstract

This article examines inequalities in risk aversion measures in the context of financial investments in Tunisia. We first explain the factors constituting risk aversion. The actors studied are individual decision-makers. The questions addressed are the attitude towards risk (including the so-called extreme risks), its perception, its evaluation, decision-making in risky world. The empirical data were collected through experimental sessions in Tunisia. We propose an analytical framework for the study of investor preferences based on operational econometric modeling. The estimated models are ordered probit and ordered probit with random effects. The random effects model has the advantage of being able to test the heterogeneity of individuals and to measure investors' risk aversion inequality, by studying the inters and individual components of the variance of aversion. at risk.

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Author Biography

Mokhtar KOUKI, Ecole Superieure de la Statistique et de l’Analyse de l’Information de Tunis,Tunisie.

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Published

2012-12-29

How to Cite

JEBENIANI GOUIDER, J., & KOUKI, M. (2012). Measurement of investor risk aversion inequality: method and application in the Tunisian context. Journal of Academic Finance, 3(1). https://doi.org/10.59051/joaf.v3i1.13

Issue

Vol. 3 No. 1 (2012): Fall 2012

Section

Articles

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