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Une étude expérimentale du degré individuel et collectif d'aversion au risque

Author

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  • Nathalie Colombier
  • Laurent Denant-Boemont
  • Youenn Lohéac
  • David Masclet

Abstract

Our paper focuses on decision-making under risk. We compare group preferences and individual preferences over risk using a lottery-choice experiment inspired by Holt and Laury (2002). In our individual procedure, subjects made lottery choices individually. In our group procedure, groups of three subjects had to reach unanimous lottery-choice decisions through a vote. In a third procedure, called choice procedure, subjects could choose their preferred decision-making method endogenously. Our main findings are that groups are more likely to choose safe lottery than individuals. The results alsoindicate a positive relationship between preference for risk and willingness to decide alone. The degree of risk aversion is mainly determined by individual characteristics.

Suggested Citation

  • Nathalie Colombier & Laurent Denant-Boemont & Youenn Lohéac & David Masclet, 2008. "Une étude expérimentale du degré individuel et collectif d'aversion au risque," Economie & Prévision, La Documentation Française, vol. 0(4), pages 89-101.
    • Handle: RePEc:cai:ecoldc:ecop_185_0089
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