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Unformatted text preview: administering two different tests based on a different sub-module of popular IQ tests. The main finding was that cognitive ability was indeed related to risk aversion and impatience such that people with higher cognitive ability are significantly more willing to take risks, and are significantly more patient (Dohmen, Falk, Huffman, Sunde 3). The study underwent vigorous correction to make sure that all variables were controlled and results were not skewed due to background or socio-economic status or other factors. The results of this study can have an impact on other studies that are testing for similar things and also, can help us learn a little more about what drives consumers decisions and what makes some people display risk averse behaviors. IZA DP No. 2735 Discussion Paper No. 2735 April 2007 (updated June 2007 old version available at ftp://ftp.iza.org/dps/dp2735_ov.pdf )...
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- Fall '10