Risk Attitudes, Investment Behavior and Linguistic Variation: An IV Approach

Kovačič, Matija; Costantini, Francesco; Bernhofer, Juliana

doi:10.2139/ssrn.2708465

“…As for linguistic markers, we adopt the classication from Kovacic et al (2015). The authors develop a specic linguistic marker based on the number of syntactic contexts that trigger non-indicative moods (i.e., irrealis contexts).…”

Section: On the Determinants Of Preferences For Immigration And Lingumentioning

confidence: 99%

“…The linguistic mapping in Kovacic et al (2015) consists of 39 mostly European languages (see Table 9 in Appendix). Data on grammatical mood were mainly collected from Rothstein and Thiero (2010) which is the most complete typological survey on grammatical mood in the languages of Europe.…”

Section: On the Determinants Of Preferences For Immigration And Lingumentioning

confidence: 99%

“…In order to account for linguistic variation and its magnitude within and across countries and regions in this specic context, we make use of the linguistic marker developed in Kovacic et al (2015) based on the number of contexts concerned with the expression of possible or hypothetical situations in which specic non-indicative moods (i.e. subjunctive, conditional, etc.)…”

mentioning

confidence: 99%

“…Therefore, speakers of languages where non-indicative moods are used more often to describe hypothetical situations, should experience the world as being more mutable and uncertain compared to speakers of languages where these forms are less frequent, ceteris paribus. The linguistic marker developed in Kovacic et al (2015) seems suitable for our analysis for two main reasons. First, it strongly correlates with the individual level of risk aversion.…”

mentioning

confidence: 99%

“…Since more intensive users of non-indicative moods are on average more uncertain and risk averse (Kovacic et al (2015)), and preferences toward immigration may in part depend on the individuals' general risk preferences, these individuals may also be more more reluctant to immigration.…”

mentioning

confidence: 99%

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In this pa per we show that the ind ividuals' per ception of immigra tion is shake by the ir cultural a nd soc ial c harac ter istic s. In o rder to acc ount for cultu ral d iffere nce s in a br oader se nse, we r e ly on linguistic re lativity theory acc ording to which lingu is tic diffe renc es in grammatical stru ctur e may induce spe aker s of diff ere nt la ngu a ge s to c once ptual ize and exper ie nce the world d iffe re ntly (Sapir (1921), Whorf and Carr oll (1964)). L ingu istic varia tion is mea sured by mea ns of a spe c ific linguistic mar ker deve l oped in Kovac ic e t a l. (2015) ba sed on the number of gra mmatical cate gorie s (mood s)c oncer ned with the expre ssion of uncertainty. We show that more inte nsive u ser s of the se spe c ific gra mmatica l forms a re signfi ca ntly more intoler ant towa rd immigration with respec t to othe r ide n tical ind ividua ls speaking a d iffe rent language/s. In lin e with Kovac ic e t al. (2015), this result c an be inter pre ted as a dire ct c onseque nce of individ ua l u nobserve d ge neral attitude toward s uncertainty reflec ted by the specifi c lingu istic marker u sed to mea sure the de gree of linguistic varia tion. The resu lts a re robu st to the inc lu sion of additiona l se t of expla na tory a nd contr ol varia bles, c ou ntry a nd year fi xed effec ts, a nd alter na tive estimation method s.

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Risk Attitudes, Investment Behavior and Linguistic Variation: An IV Approach

Cited by 4 publications

References 29 publications

Why Do Some Countries Fear Immigration More than Others? Evidence from Europe

Why Do Some Countries Fear Immigration More than Others? Evidence from Europe

Linguistic Structures and Economic Outcomes

Why Do Some Countries Fear Immigration More than Others? Evidence from Europe

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