关键词: 风险冲击, 农户决策, 偏好, 损失厌恶, 小额信贷

Abstract: This article uses theories and measures in behavioral and experimental economics to conduct a field experiment among 3 445 rural households in Jilin province and uses the difference-in-difference identification method to assess the causal impact of risk shock on rural households' economic preferences and decisionsIn the presence of risk shock，households become more risk averse，avoid high-risk-high-return investment plans，and are more inconsistent in intertemporal time discountingThe presumption that rational economic agents maintain stable preferences in neoclassical microeconomic models does not hold at least in the short-term after the shockFormal microfinance mitigates the negative risk shocks in terms of reducing pressure，anxiety and negative emotionsIt thus encourages risk-taking behavior，particularly for men，the elderly and the low-educated population，reduces risk aversion in women，increases consistency in intertemporal time discounting，and reduces loss aversion for the elderly or the asset-poor population

Key words: risk shock, rural households' decision-making, preference, loss aversion, microfinance