Economic preferences across states in India
Understanding why people in some states are more willing to take risks or trust others is important for analysing economic outcomes
Recently, behavioural economics researchers at the University of Bonn, University of Munich and University of Pittsburgh made publicly available a global dataset (goo.gl/1xqWT6) on economic preferences that surveyed nearly 80,000 individuals in 76 countries, including India. The Global Preferences Survey (GPS) (goo.gl/rE5Xdn) is the first-of-its-kind survey dataset that made use of economic experiments to measure preferences related to trust, altruism, reciprocity, risk-taking, and time preference. Armin Falk and his colleagues have, through this dataset, attempted to measure behaviour and preferences that economists were previously unable to.