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A Simple Risk-Sharing Experiment

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Author Info
John Bone ()
John Hey ()
John Suckling

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Abstract

This paper reports on an experiment designed to test whether pairs of individuals are able to exploit ex ante efficiency gains in the sharing of a risky financial prospect. Observations from a previous experiment had suggested a general rejection of efficiency in favour of ex post equality. The present experiment explores some possible explanations for this. The results indicate that fairness is not a significant consideration, but rather that having to choose between prospects diverts partners from allocating the chosen prospect efficiently. Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1023/B:RISK.0000009434.18807.bd
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Publisher Info
Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 28 (2004)
Issue (Month): 1 (January)
Pages: 23-38
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:jrisku:v:28:y:2004:i:1:p:23-38

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Web page: http://www.springerlink.com/link.asp?id=100299

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Related research
Keywords: risk-sharing; experiment; bargaining; fairness;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 367-388, December. [Downloadable!] (restricted)
  2. Bone, John, 1998. "Risk-sharing CARA individuals are collectively EU," Economics Letters, Elsevier, vol. 58(3), pages 311-317, March. [Downloadable!] (restricted)
  3. repec:cup:cbooks:9780521576475 is not listed on IDEAS
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Nadja Trhal & Ralf Radermacher, 2006. "Bad luck vs. self-inflicted neediness – An experimental investigation of gift giving in a solidarity game," Working Paper Series in Economics 28, University of Cologne, Department of Economics, revised 07 Mar 2008. [Downloadable!]
  2. Gary Charness, University of California, Santa Barbara and Garance Genicot,Georgetown University, . "An Experimental Test of Risk-Sharing Arrangements," Working Papers gueconwpa~04-04-02, Georgetown University, Department of Economics. [Downloadable!]
    Other versions:
  3. Gary Charness & Garance Genicot, 2008. "Informal Risk Sharing in an Infinite-horizon Experiment," University of California at Santa Barbara, Economics Working Paper Series 09-08, Department of Economics, UC Santa Barbara. [Downloadable!]
    Other versions:
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