Are workers in less economically developed countries often willing to take greater risks?

Workers in less economically developed countries often accept higher risks for several reasons rooted in their economic circumstances. In many cases, these workers have limited job opportunities and face economic pressures that compel them to take on positions that may involve greater hazards or uncertainties. The lack of a social safety net, such as unemployment benefits or health insurance, can lead individuals to prioritize immediate employment over concerns about safety or long-term risks.

Moreover, in environments where formal regulations regarding workers' safety may be lax or poorly enforced, individuals may also find themselves in situations that require them to either take significant risks or face the possibility of unemployment. In such economies, the urgency of securing any form of income can overshadow considerations about the safety and risk levels of working conditions.

Additionally, the acceptance of higher risks can be a response to the cultural and economic context of these regions, where survival often takes precedence over safety concerns due to the harsh realities of poverty and limited economic mobility. This willingness underscores a broader behavioral economic principle where individuals balance the perceived benefits of employment against the risks involved, often leading them to choose opportunities with higher risks involved when safer options are simply not viable.

Thus, the understanding of risk acceptance in this context highlights the intricate relationship between economic development, job security, and individual choices regarding