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 in Charness (2000), 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 InfoPaper provided by Department of Economics, UC Santa Barbara in its series University of California at Santa Barbara, Economics Working Paper Series with number qt2mk4p42w.
Date of creation: 21 Oct 2007
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Equilibrium Selection; Responsibility; Risk-taking;
Other versions of this item:
- Charness, Gary & Jackson, Matthew O., 2009. "The role of responsibility in strategic risk-taking," Journal of Economic Behavior & Organization, Elsevier, vol. 69(3), pages 241-247, March.
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.:
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