The role of responsibility in strategic risk-taking
AbstractWe explore play between groups where one member of each 2-person group dictates the play of that group and is therefore responsible for the payoff of the other group member. We compare this to play when the game is the same, but each person is playing only for herself. Consistent with the principle of responsibility-alleviation described by Charness [Charness, G., 2000. Responsibility and effort in an experimental labor market. Journal of Economic Behavior and Organization 42, 375-384], we find that a sense of responsibility for the welfare of others has an effect. While the issue of responsibility does not appear to influence the decisions of 2/3 of the population, almost 90 percent of the remaining 1/3 of the population plays a less risky strategy when choosing for a group than when playing only for herself.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 69 (2009)
Issue (Month): 3 (March)
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Web page: http://www.elsevier.com/locate/jebo
Equilibrium selection Responsibility Risk-taking;
Other versions of this item:
- Charness, Gary B & Jackson, Matthew O., 2007. "The Role of Responsibility in Strategic Risk-Taking," University of California at Santa Barbara, Economics Working Paper Series qt2mk4p42w, Department of Economics, UC Santa Barbara.
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