Variable Name

Variable Description

Variable Declaration

Stock

Whether they hold shares

1 = hold, 0 = do not hold

Risk assets

Whether they hold risky assets

1 = hold risky assets, 0 = do not

Credit

Whether they hold credit card

1 = hold,0 = do not hold

Household income

Ln (household income)

Ln (total income of career earnings and other income)

Risk

Risk attitude

Assignment 1 - 5, smaller value indicates more appetite for risk

Insurance

Insurance participation

1 = participate in, 0 = do not

House

Whether to have a house

1 = have, 0 = do not

Gender

Gender

1 = male, 0 = female

Education

Education background

1 - 9 respectively corresponding to education background from low to high degree

Political

Political status

1 = Communist, 0 = other

Marital

Marital status

1 = married, 0 = other

Health

Health status

Assignment 1 - 5, with the larger value for healthier condition

Price

Expected price

Assignment 1 - 5, larger value for higher price

House price

Expected house price

Assignment 1 - 5, larger value for higher house price