In 1996, Miles S. Kimball, Claudia R. Sahm, and Matthew D. Shapiro used the questions M1-M5
asked in the 1996 Family Interview to impute variables of risk tolerance and risk aversion.
For information about the construction of these variables please refer to their paper: Risk
Preferences in the PSID: Individual Imputations and Family Covariation." by Miles S.Kimball,
Claudia R. Sahm, and Matthew D. Shapiro. American Economic Review Papers and Proceedings 99
(May 2009) 363-368, which may be found on our website:
Risk Preferences in the PSID: Individual Imputations and Family Covariation
Please find additional helpful information in the Appendix also found on our website:
Risk Tolerance Appendix
These data may be accessed through the ICPSR
PSID Data Repository.