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Impacts Of Social Capital On Investment Behavior Under Risk

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  • Hanson, Steven D.
  • Robison, Lindon J.

Abstract

Implicit in most applications of the expected utility (EU) model is the assumption that only the decision maker's own income matters. Moreover, studies that estimate risk preferences typically measure how individuals respond to changes in the level and likelihood of having their own income altered (Young). The focus on own income in the EU model is consistent with the assumption most often applied in the neoclassical economic paradigm; namely, that the identity of participants in an economic exchange does not affect the outcome (Telser and Higinbotham).

Suggested Citation

  • Hanson, Steven D. & Robison, Lindon J., 2001. "Impacts Of Social Capital On Investment Behavior Under Risk," Staff Paper Series 11533, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    • Handle: RePEc:ags:midasp:11533
    DOI: 10.22004/ag.econ.11533
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    References listed on IDEAS

    as
    1. Durlauf, Steven N. & Fafchamps, Marcel, 2005. "Social Capital," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 26, pages 1639-1699, Elsevier.
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