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Individual and Couple Decision Behavior under Risk: The Power of Ultimate Control

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Author Info
André de Palma
Nathalie Picard
Anthony Ziegelmeyer ()

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Abstract

This paper reports results of an experiment designed to analyze the link between risky decisions made by couples and risky decisions made separately by each spouse. We estimate both the spouses and the couples’ degrees of risk aversion and we assess how the risk preferences of the two spouses aggregate when they make risky decisions. This enables us to investigate the decision process that takes place when couples make risky decisions. We find that in most couples men have more decision-making power than women and that women’s decision-making power increases when they ultimately implement the joint decisions.

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Paper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2006-22.

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Length: 20 pages
Date of creation: Sep 2008
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Handle: RePEc:esi:discus:2006-22

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Related research
Keywords: Household decision-making; Risk; Experiments;

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Find related papers by JEL classification:
C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
D13 - Microeconomics - - Household Behavior - - - Household Production and Intrahouse Allocation
D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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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. Karni, Edi & Safra, Zvi, 1987. ""Preference Reversal' and the Observability of Preferences by Experimental Methods," Econometrica, Econometric Society, vol. 55(3), pages 675-85, May. [Downloadable!] (restricted)
  2. Vermeulen, Frederic, 2002. " Collective Household Models: Principles and Main Results," Journal of Economic Surveys, Blackwell Publishing, vol. 16(4), pages 533-64, September. [Downloadable!] (restricted)
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  3. Donni, Olivier, 2003. "Collective household labor supply: nonparticipation and income taxation," Journal of Public Economics, Elsevier, vol. 87(5-6), pages 1179-1198, May. [Downloadable!] (restricted)
    Other versions:
  4. Thomas Baumann & Carsten Schmidt, 2004. "The Jena video laboratory for economic experiments," Papers on Strategic Interaction 2004-06, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
  5. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December. [Downloadable!]
  6. Ian Bateman & Alistair Munro, 2005. "An Experiment on Risky Choice Amongst Households," Economic Journal, Royal Economic Society, vol. 115(502), pages C176-C189, 03. [Downloadable!] (restricted)
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  7. Michael Lechner, 2005. "The Empirical Analysis of East German Fertility after," Labor and Demography 0505005, EconWPA. [Downloadable!]
  8. Steffen Andersen & Glenn Harrison & Morten Lau & E. Rutström, 2006. "Elicitation using multiple price list formats," Experimental Economics, Springer, vol. 9(4), pages 383-405, December. [Downloadable!] (restricted)
  9. Hans P. Binswanger, 1980. "Attitudes Toward Risk: Experimental Measurement in Rural India," Artefactual Field Experiments 0008, The Field Experiments Website. [Downloadable!]
  10. Steffen Andersen & Glenn Harrison & Morten Lau & E. Rutström, 2009. "Elicitation using multiple price list formats," Experimental Economics, Springer, vol. 12(3), pages 365-366, September. [Downloadable!] (restricted)
  11. Steffen Anderson & Glenn W. Harrison & Morten I. Lau & Rutstrom E. Elisabet, 2007. "Valuation using multiple price list formats," Applied Economics, Taylor and Francis Journals, vol. 39(6), pages 675-682. [Downloadable!] (restricted)
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  1. Carlsson, Fredrik & Martinsson, Peter & Qin, Ping & Sutter, Matthias, 2009. "Household Decision Making and the Influence of Spouses' Income, Education, and Communist Party Membership: A Field Experiment in Rural China," IZA Discussion Papers 4139, Institute for the Study of Labor (IZA). [Downloadable!]
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