We present evidence consistent with time-varying risk preferences among automobile drivers. Exploiting a unique dataset of agents’ high-frequency driving behavior collected by a mobile phone application, we show that drivers drive more conservatively following “near-miss” accidents. In a preferred specification, a nearmiss triggers a reduction in driving distance of 12.98 kilometers, in-car cellphone use by more than 100%, and highway use by 43.24%. Structural estimation results indicate that such changes in behavior are consistent with an increase in risk aversion of 10.54–43.77% and a reduction in annual insurance cost amounting to 2.04–3.31% of the average car insurance premium.

中文翻译：

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时变风险规避？来自未遂事故的证据

我们提供了与汽车驾驶员随时间变化的风险偏好一致的证据。利用手机应用程序收集的代理高频驾驶行为的独特数据集，我们表明驾驶员在“险些错过”事故后更保守地驾驶。在一个优选的规范中，近距离触发会导致行驶距离减少 12.98 公里，车内手机使用量减少 100% 以上，高速公路使用量减少 43.24%。结构性估计结果表明，这种行为变化与风险规避增加 10.54-43.77% 以及年度保险成本降低 2.04-3.31% 的平均汽车保险费相一致。