We conducted field experiments to investigate how wealth, political history, occupation, and other
demographic variables (from a comprehensive earlier household survey) are correlated with risk,
time discounting and trust in Vietnam. Our experiments suggest risk and time preferences depend
on the stage of economic development. In wealthier villages, people are less loss-averse and more
patient. Our research also shows people who participate in ROSCAs (rotating credit associations)
are more patient than non-participant, but those who participate in bidding ROSCAs are less patient
and more risk averse than those who participate in fixed ROSCAs. Results from a trust game
demonstrate both positive and negative effects of communism. Villagers in the South tend to invest
more in low-income partners without expecting repayment. On the other hand, people in the north
are more trustworthy but do not pass on more money to the poor. Our findings also suggest market
activities, like starting a small trade business, are correlated with trust and trustworthiness. We also
contribute to experimental methodology by using choices that separate different aspects of risk
aversion and time preferences in behavioral economics specifications
