Impacts Of Social Capital On Investment Behavior Under Risk
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).
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- Samuel Bowles & Glenn C. Loury & Rajiv Sethi, 2009.
Economics Working Papers
0088, Institute for Advanced Study, School of Social Science.
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- Robison, Lindon J. & Schmid, A. Allan & Siles, Marcelo E., 1999.
"Is Social Capital Really Capital?,"
11649, Michigan State University, Department of Agricultural, Food, and Resource Economics.
- Stephen Knack & Philip Keefer, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1251-1288.
- Gregory M. Perry & Lindon J. Robison, 2001. "Evaluating the Influence of Personal Relationships on Land Sale Prices: A Case Study in Oregon," Land Economics, University of Wisconsin Press, vol. 77(3), pages 385-398.
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