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Taking Risk with Other People’s Money: Does Information about the Others Matter?

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  • Luzuriaga, Miguel

Abstract

This paper experimentally investigates how people take risk with other people’s money, and specifically, whether risk-taking is influenced by information about others. Before choosing the degree of risk another person must bear, subjects get information about the other person’s gender and self-reported level of extroversion. There is no evidence that information about gender has an effect, and matters more for choosing on behalf of one’s-self than for choosing on behalf of others. Extroversion, however, has a significant effect. Here it matters more for choosing on behalf of others than on behalf of one’s-self. I also find that the own risk choices have a strong effect on choosing on behalf of others.

Suggested Citation

  • Luzuriaga, Miguel, 2017. "Taking Risk with Other People’s Money: Does Information about the Others Matter?," Review of Behavioral Economics, now publishers, vol. 4(2), pages 107-133, September.
    • Handle: RePEc:now:jnlrbe:105.00000061
    DOI: 10.1561/105.00000061
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    Cited by:

    1. Eriksen, Kristoffer W. & Kvaløy, Ola & Luzuriaga, Miguel, 2020. "Risk-taking on behalf of others," Journal of Behavioral and Experimental Finance, Elsevier, vol. 26(C).

    More about this item

    Keywords

    Gender; Risk; Experiments;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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