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Risk Attitudes and Choice under Uncertainty: Experimental Evidence from Russia

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  • Belianin Alexis

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Abstract

This paper presents the results of one of the first experimental studies of individual choice in transitional Russia. The study is based on two standard types of experimental design: on risk attitudes via individual preferences over two-outcome lotteries, and on public good provision under voluntary contribution mechanism. By comparing preferences exhibited by 186 Moscow students to those observed elsewhere in the world, the author attempted to test claims that the Russian national character and/or years of socialist experience causes individual behavior to deviate from "normal" patterns. Both series of results turned out to be remarkably similar to the basic patterns exhibited in analogous studies abroad. However, public choice experiments showed that contribution rates typically increased in proportion to the share of female bidders in a group, a pattern that hasn't been observed in similar experiments in the other countries.

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Bibliographic Info

Paper provided by EERC Research Network, Russia and CIS in its series EERC Working Paper Series with number 98-01e.

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Length: 46 pages
Date of creation: 01 Sep 1998
Date of revision:
Handle: RePEc:eer:wpalle:98-01e

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Postal: EERC Research Network, Russia and CIS, 1, Mazepy Str., suite 202, Kyiv, 01010 Ukraine
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Postal: EERC Research Network, Russia and CIS, 1, Mazepy Str., suite 202, Kyiv, 01010 Ukraine
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Related research

Keywords: Russia; transition; experiment; risk adversity; social welfare payments;

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Cited by:
  1. Alexis Belianin & Marco Novarese, 2005. "Trust, communication and equlibrium behaviour in public goods," Experimental, EconWPA 0506001, EconWPA.

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