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Betrayal Aversion on Four Continents

  • Bohnet, Iris

    (Harvard U)

  • Greig, Fiona

    (Harvard U)

  • Herrmann, Benedikt

    (U of Nottingham)

  • Zeckhauser

    (Harvard U)

Due to betrayal aversion, people take risks less willingly when the agent of uncertainty is another person rather than nature. Individuals in four countries (Brazil, Switzerland, the United Arab Emirates and the United States) confronted either a binary-choice trust game or a risky decision offering the same payoffs and probabilities. Risk acceptance was calibrated by asking individuals their “minimal acceptable probability” (MAP) for securing the high payoff that would make them just willing to accept the risky rather than the sure payoff. People’s MAPs are significantly higher when another person rather than nature determines the outcome. This indicates betrayal aversion.

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Paper provided by Harvard University, John F. Kennedy School of Government in its series Working Paper Series with number rwp06-005.

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Date of creation: Feb 2006
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Handle: RePEc:ecl:harjfk:rwp06-005
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  1. Nancy Buchan & Rachel Croson, 1999. "Gender and Culture: International Experimental Evidence from Trust Games," American Economic Review, American Economic Association, vol. 89(2), pages 386-391, May.
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  4. Matthew Rabin., 1992. "Incorporating Fairness into Game Theory and Economics," Economics Working Papers 92-199, University of California at Berkeley.
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  9. Knack, Stephen & Keefer, Philip, 1997. "Does Social Capital Have an Economic Payoff? A Cross-Country Investigation," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1251-88, November.
  10. Catherine C. Eckel & Philip J. Grossman, 2008. "Sex and Risk: Experimental Evidence," Monash Economics Working Papers archive-09, Monash University, Department of Economics.
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  12. Alvin E. Roth & V. Prasnikar & M. Okuno-Fujiwara & S. Zamir, 1998. "Bargaining and market behavior in Jerusalem, Liubljana, Pittsburgh and Tokyo: an experimental study," Levine's Working Paper Archive 344, David K. Levine.
  13. Buchan, Nancy R. & Croson, Rachel T.A. & Solnick, Sara, 2008. "Trust and gender: An examination of behavior and beliefs in the Investment Game," Journal of Economic Behavior & Organization, Elsevier, vol. 68(3-4), pages 466-476, December.
  14. Glaeser, Edward Ludwig & Laibson, David I. & Scheinkman, Jose A. & Soutter, Christine L., 2000. "Measuring Trust," Scholarly Articles 4481497, Harvard University Department of Economics.
  15. Blount, Sally, 1995. "When Social Outcomes Aren't Fair: The Effect of Causal Attributions on Preferences," Organizational Behavior and Human Decision Processes, Elsevier, vol. 63(2), pages 131-144, August.
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  17. repec:dgr:kubcen:199837 is not listed on IDEAS
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