Betrayal Aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States
AbstractDue to betrayal aversion, people take risks less willingly when the agent of uncertainty is another person rather than nature. Individuals in six countries (Brazil, China, Oman, Switzerland, Turkey, and the United States) confronted a binary-choice trust game or a risky decision offering the same payoffs and probabilities. Risk acceptance was calibrated by asking individuals their “minimum acceptable probability” (MAP) for securing the high payoff that would make them willing to accept the risky rather than the sure payoff. People’s MAPs are generally higher when another person rather than nature determines the outcome. This indicates betrayal aversion.
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Bibliographic InfoPaper provided by The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham in its series Discussion Papers with number 2007-08.
Date of creation: Oct 2007
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Other versions of this item:
- Iris Bohnet & Fiona Greig & Benedikt Herrmann & Richard Zeckhauser, 2008. "Betrayal Aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States," American Economic Review, American Economic Association, vol. 98(1), pages 294-310, March.
- Iris Bohnet & Fiona Greig & Benedikt Herrmann & Richard Zeckhauser, 2007. "Betrayal Aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States," Discussion Papers 2007-08, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-11-17 (All new papers)
- NEP-CBE-2007-11-17 (Cognitive & Behavioural Economics)
- NEP-CNA-2007-11-17 (China)
- NEP-CWA-2007-11-17 (Central & Western Asia)
- NEP-EXP-2007-11-17 (Experimental Economics)
- NEP-UPT-2007-11-17 (Utility Models & Prospect Theory)
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