@TechReport{iza:izadps:dp1214, author={Diaz-Serrano, Luis and O'Neill, Donal}, title={The Relationship between Unemployment and Risk-Aversion}, year={2004}, month={Jul}, institution={Institute of Labor Economics (IZA)}, address={Bonn}, type={IZA Discussion Paper}, number={1214}, url={https://www.iza.org/publications/dp1214}, abstract={In this paper we use a direct measure of individual risk-aversion to examine the relationship between risk-aversion and unemployment. The traditional search model predicts that more risk-averse individuals have lower reservation wages and thus are less likely to be observed in unemployment. Our findings, however, do not support this prediction: on the contrary our data suggest that more risk-averse individuals are more likely to be unemployed.}, keywords={unemployment;job-search;risk-aversion}, }