Risk Taking and Social Exposure
AbstractThe paper examines in the laboratory how risk-taking situations are affected by the conditions of observing other’s choices (observer) and being observed by others (source). By extending Yechiam et al.’s (2008) experimental design to the domain of gains we find that observers are more probable than sources to choose risky alternatives producing rare gains than equiprobable gains. The impact of social exposure is also analyzed and interpreted in the context of personality traits to assess how heterogeneity influences risky decisions.
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Bibliographic InfoPaper provided by University of Siena in its series Labsi Experimental Economics Laboratory University of Siena with number 046.
Date of creation: Jul 2013
Date of revision:
risky shift; social exposure; personality traits.;
Find related papers by JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-28 (All new papers)
- NEP-CBE-2013-07-28 (Cognitive & Behavioural Economics)
- NEP-CWA-2013-07-28 (Central & Western Asia)
- NEP-EXP-2013-07-28 (Experimental Economics)
- NEP-NEU-2013-07-28 (Neuroeconomics)
- NEP-UPT-2013-07-28 (Utility Models & Prospect Theory)
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