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

Geoffrey Brennan; Luis G. González; Werner Güth; M. Vittoria Levati

doi:10.1016/j.jebo.2007.02.001

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

Geoffrey Brennan, Luis G. González, Werner Güth, M. Vittoria Levati^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

56 Citations (Scopus)

Abstract

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, the results do not support any relation between risk attitudes and other-regarding concerns.

Original language	English
Pages (from-to)	253-262
Number of pages	10
Journal	Journal of Economic Behavior and Organization
Volume	67
Issue number	1
DOIs	https://doi.org/10.1016/j.jebo.2007.02.001
Publication status	Published - Jul 2008

Access to Document

10.1016/j.jebo.2007.02.001

Cite this

@article{b4ebb8f004524678807a6239947b44ef,

title = "Attitudes toward private and collective risk in individual and strategic choice situations",

abstract = "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, the results do not support any relation between risk attitudes and other-regarding concerns.",

keywords = "Other-regarding concerns, Public goods experiments, Random price mechanism",

author = "Geoffrey Brennan and Gonz{\'a}lez, {Luis G.} and Werner G{\"u}th and Levati, {M. Vittoria}",

year = "2008",

month = jul,

doi = "10.1016/j.jebo.2007.02.001",

language = "English",

volume = "67",

pages = "253--262",

journal = "Journal of Economic Behavior and Organization",

issn = "0167-2681",

publisher = "Elsevier B.V.",

number = "1",

}

TY - JOUR

T1 - Attitudes toward private and collective risk in individual and strategic choice situations

AU - Brennan, Geoffrey

AU - González, Luis G.

AU - Güth, Werner

AU - Levati, M. Vittoria

PY - 2008/7

Y1 - 2008/7

N2 - 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, the results do not support any relation between risk attitudes and other-regarding concerns.

AB - 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, the results do not support any relation between risk attitudes and other-regarding concerns.

KW - Other-regarding concerns

KW - Public goods experiments

KW - Random price mechanism

UR - http://www.scopus.com/inward/record.url?scp=44649175683&partnerID=8YFLogxK

U2 - 10.1016/j.jebo.2007.02.001

DO - 10.1016/j.jebo.2007.02.001

M3 - Article

SN - 0167-2681

VL - 67

SP - 253

EP - 262

JO - Journal of Economic Behavior and Organization

JF - Journal of Economic Behavior and Organization

IS - 1

ER -

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

Abstract

Access to Document

Other files and links

Fingerprint

Cite this