Risk Aversion and Religion

C.N. Noussair, S.T. Trautmann, G. van de Kuilen, N. Vellekoop

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Abstract: Using a dataset for a demographically representative sample of the Dutch population, containing a revealed preference risk attitude measure, as well as very detailed information about participants’ religious background, we study three issues raised in previous literature. First, we find strong confirmatory evidence that more religious people, as measured by church membership or attendance, are more risk averse. Second, we obtain some evidence that Protestants are more risk averse than Catholics. Third, our data suggest that the link between risk aversion and religion is driven by social aspects of church membership, rather than by religious beliefs themselves.
Original languageEnglish
Place of PublicationTilburg
Number of pages20
Publication statusPublished - 2012

Publication series

NameCentER Discussion Paper


  • risk aversion
  • religion
  • Catholicism
  • Protestantism.


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