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The relation of risk attitudes and other-regarding preferences: A within-subjects analysis

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  • Müller, Stephan
  • Rau, Holger A.

Abstract

In this paper we provide experimental evidence on the relation of individual risk attitudes and subjects׳ aversion to favorable inequality. In a within-subjects design we expand Blanco et al.׳s (2011) modified dictator game by the risk-elicitation task of Eckel and Grossman (2002). Our data show strong support for a significant negative correlation between risk tolerance and an aversion to favorable inequality. The results are independent of gender, i.e., women and men show a similar correlation in these traits.

Suggested Citation

  • Müller, Stephan & Rau, Holger A., 2016. "The relation of risk attitudes and other-regarding preferences: A within-subjects analysis," European Economic Review, Elsevier, vol. 85(C), pages 1-7.
    • Handle: RePEc:eee:eecrev:v:85:y:2016:i:c:p:1-7
    DOI: 10.1016/j.euroecorev.2016.02.004
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    Citations

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    Cited by:

    1. Strobl, Renate & Wunsch, Conny, 2018. "Risky Choices and Solidarity: Why Experimental Design Matters," Working papers 2018/17, Faculty of Business and Economics - University of Basel.
    2. Stefan Grimm & Martin G. Kocher & Michal Krawczyk & Fabrice Lec, 2021. "Sharing or gambling? On risk attitudes in social contexts," Experimental Economics, Springer;Economic Science Association, vol. 24(4), pages 1075-1104, December.
    3. Grosch, Kerstin & Rau, Holger A., 2017. "Gender differences in honesty: The role of social value orientation," Journal of Economic Psychology, Elsevier, vol. 62(C), pages 258-267.
    4. Strobl, Renate & Wunsch, Conny, 2017. "Does Voluntary Risk Taking Affect Solidarity? Experimental Evidence from Kenya," Working papers 2017/12, Faculty of Business and Economics - University of Basel.
    5. Bernard, Kévin & Bonein, Aurélie & Bougherara, Douadia, 2020. "Consumer inequality aversion and risk preferences in community supported agriculture," Ecological Economics, Elsevier, vol. 175(C).
    6. Müller, Stephan & Rau, Holger A., 2017. "Decisions under uncertainty in social contexts," University of Göttingen Working Papers in Economics 290, University of Goettingen, Department of Economics, revised 2017.
    7. Grosch, Kerstin & Rau, Holger, 2017. "Gender differences in honesty: The role of social value orientation," University of Göttingen Working Papers in Economics 308, University of Goettingen, Department of Economics.
    8. Rau, Holger & Müller, Stephan, 2017. "Decisions under Uncertainty in Social Contexts," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168228, Verein für Socialpolitik / German Economic Association.
    9. Gago, Andrés, 2021. "Reciprocity and uncertainty: When do people forgive?," Journal of Economic Psychology, Elsevier, vol. 84(C).
    10. Müller, Stephan & Rau, Holger A., 2019. "Decisions under uncertainty in social contexts," Games and Economic Behavior, Elsevier, vol. 116(C), pages 73-95.

    More about this item

    Keywords

    Experiment; Other-regarding preferences; Risk preferences;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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