Figure 1

Proportion of individuals investing less versus more than 10,000 IDR in the portfolio choice task.
Individuals could choose to invest any amount between 0 and 20,000 in the risky option, by units of 500 IDR. Individuals in the risky area (in grey) tend to be more risk-averse i.e. to invest less (on average 10,723 ± 529 SEM) than in the non-risky area (in black, 12,241 ± 450).