Attitudes toward Private and Collective Risks in Individual and Strategic Choice Situations

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Attitudes toward Private and Collective Risks in Individual and Strategic Choice Situations

Author Info

Geoffrey Brennan
Werner Güth ()
Luis G. Gonzalez
M. Vittoria Levati ()

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Abstract

Idiosyncratic risk attitudes are usually assumed to be commonly known and restricted to own payoffs. However, the alternatives faced by a decision maker often involve risks for others' payoffs as well. Motivated by the importance of other-regarding preferences in social interactions, this paper explores idiosyncratic attitudes toward own and others' risks. We elicit risk attitudes in an experiment involving choices with and without strategic interaction.

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Publisher Info
Paper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2005-22.

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Length: 25 pages
Date of creation: Sep 2005
Date of revision:
Handle: RePEc:esi:discus:2005-22

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Article
- Brennan, Geoffrey & González, Luis G. & Güth, Werner & Levati, M. Vittoria, 2008. "Attitudes toward private and collective risk in individual and strategic choice situations," Journal of Economic Behavior & Organization, Elsevier, vol. 67(1), pages 253-262, July. [Downloadable!] (restricted)

Find related papers by JEL classification:
C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

This paper has been announced in the following NEP Reports:

NEP-ALL-2005-10-04 (All new papers)
NEP-CBE-2005-10-04 (Cognitive & Behavioural Economics)
NEP-EXP-2005-10-04 (Experimental Economics)
NEP-PBE-2005-10-04 (Public Economics)

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.:

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Other versions:
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Fischbacher, Urs & Gachter, Simon & Fehr, Ernst, 2001. "Are people conditionally cooperative? Evidence from a public goods experiment," Economics Letters, Elsevier, vol. 71(3), pages 397-404, June. [Downloadable!] (restricted)
Other versions:
- Urs Fischbacher & Simon Gaechter & Ernst Fehr, . "Are People Conditionally Cooperative? Evidence from a Public Goods Experiment," IEW - Working Papers iewwp016, Institute for Empirical Research in Economics - IEW. [Downloadable!]
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Full references

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.)

Annamaria Fiore & M. Vittoria Levati & Andrea Morone, 2006. "Voluntary contributions with imperfect information: An experimental study," Papers on Strategic Interaction 2006-30, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
Other versions:
- M. Levati & Andrea Morone & Annamaria Fiore, 2009. "Voluntary contributions with imperfect information: An experimental study," Public Choice, Springer, vol. 138(1), pages 199-216, January. [Downloadable!] (restricted)
Werner Gueth & M. Vittoria Levati & Matteo Ploner, 2007. "Let Me See You! A Video Experiment on the Social Dimension of Risk Preferences," Jena Economic Research Papers in Economics 2007-005, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics, Thueringer Universitaets- und Landesbibliothek. [Downloadable!]
M. Vittoria Levati & Werner Güth & Matteo Ploner, 2005. "On the social dimension of time and risk preferences: An experimental study," Papers on Strategic Interaction 2005-26, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
Other versions:
- Werner Güth & M. Vittoria Levati & Matteo Ploner, 2008. "On The Social Dimension Of Time And Risk Preferences: An Experimental Study," Economic Inquiry, Western Economic Association International, vol. 46(2), pages 261-272, 04. [Downloadable!] (restricted)

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This page was last updated on 2009-11-25.

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