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A Simple Risk-Sharing Experiment

  • John Bone

    ()

  • John Hey

    ()

  • John Suckling

This paper reports on an experiment designed to test whether pairs of individuals are able to exploit ex ante efficiency gains in the sharing of a risky financial prospect. Observations from a previous experiment had suggested a general rejection of efficiency in favour of ex post equality. The present experiment explores some possible explanations for this. The results indicate that fairness is not a significant consideration, but rather that having to choose between prospects diverts partners from allocating the chosen prospect efficiently. Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1023/B:RISK.0000009434.18807.bd
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Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 28 (2004)
Issue (Month): 1 (January)
Pages: 23-38

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Handle: RePEc:kap:jrisku:v:28:y:2004:i:1:p:23-38
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100299

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  1. repec:cup:cbooks:9780521576475 is not listed on IDEAS
  2. Guth, Werner & Schmittberger, Rolf & Schwarze, Bernd, 1982. "An experimental analysis of ultimatum bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 367-388, December.
  3. Bone, John, 1998. "Risk-sharing CARA individuals are collectively EU," Economics Letters, Elsevier, vol. 58(3), pages 311-317, March.
  4. Bone, John & Hey, John & Suckling, John, 1999. "Are Groups More (or Less) Consistent Than Individuals?," Journal of Risk and Uncertainty, Springer, vol. 18(1), pages 63-81, April.
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