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Attitudes toward private and collective risk in individual and strategic choice situations

Brennan, H Geoffrey; Gonzalez, Luis; Guth, Werner; Levati, Maria Vittoria

Description

Idiosyncratic risk attitudes are usually assumed to be commonly known and related to own payoffs only. However, the alternatives faced by a decision maker often involve risk about others' payoffs as well. Motivated by the importance of other-regarding preferences in social interactions, this paper explores idiosyncratic attitudes toward own and others' risk. We elicit risk attitudes in an experiment involving choices with and without strategic interaction. Regardless of the choice situation,...[Show more]

CollectionsANU Research Publications
Date published: 2008
Type: Journal article
URI: http://hdl.handle.net/1885/30901
Source: Journal of Economic Behavior and Organization
DOI: 10.1016/j.jebo.2007.02.001

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