Many developed countries have aging populations, with potentially major economic, political, and social consequences in the near future. Using Dutch and German panel data to control for cohort and period effects, a paper recently published in the Economic Journal investigates the relationship between age and risk attitudes. The results suggest that willingness to take risks declines with age, implying that societies may become more risk-averse as their population ages.
For a more detailed summary, read a VoxEU column contributed by the authors.