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Individual and Couple Decision Behavior under Risk:The Power of Ultimate Control

  • André de Palma

    ()

    (University of Cergy-Pontoise (théma) and ENPC, Member of Institut Universitaire de France)

  • Nathalie Picard

    ()

    (University of Cergy-Pontoise (théma) and INED)

  • Anthony Ziegelmeyer

    ()

    (Max Planck Institute)

This paper reports results of an experiment designed to analyze the link between risky decisions made by couples, and risky decisions made separately by each spouse. We estimate both the individuals and the couples’ degrees of risk aversion, and we analyze how the risk preferences of the two spouses aggregate when they have to perform joint decisions under risk. We show that the man has more decision power than the woman, but the woman’s decision power increases when she has ultimate control over the joint decision.

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Paper provided by THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise in its series THEMA Working Papers with number 2007-03.

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Date of creation: 2007
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Handle: RePEc:ema:worpap:2007-03
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  1. Hans Binswanger, 1980. "Attitudes toward risk: Experimental measurement in rural india," Artefactual Field Experiments 00009, The Field Experiments Website.
  2. Steffen Anderson & Glenn Harrison & Morten Lau & Rutstrom Elisabet, 2007. "Valuation using multiple price list formats," Applied Economics, Taylor & Francis Journals, vol. 39(6), pages 675-682.
  3. Maurizio Mazzocco, 2004. "Saving, Risk Sharing, and Preferences for Risk," American Economic Review, American Economic Association, vol. 94(4), pages 1169-1182, September.
  4. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
  5. Alistair Munro & Ian Bateman, 2004. "An Experiment On Risky Choice Amongst Households," Royal Economic Society Annual Conference 2004 77, Royal Economic Society.
  6. Karni, Edi & Safra, Zvi, 1987. ""Preference Reversal' and the Observability of Preferences by Experimental Methods," Econometrica, Econometric Society, vol. 55(3), pages 675-85, May.
  7. Thomas Baumann & Carsten Schmidt, 2004. "The Jena video laboratory for economic experiments," Papers on Strategic Interaction 2004-06, Max Planck Institute of Economics, Strategic Interaction Group.
  8. Chiappori, Pierre-Andre, 1988. "Rational Household Labor Supply," Econometrica, Econometric Society, vol. 56(1), pages 63-90, January.
  9. Olivier Donni, 2001. "Collective Household Labor Supply: Nonparticipation and Income Taxation," Cahiers de recherche CREFE / CREFE Working Papers 140, CREFE, Université du Québec à Montréal.
  10. Steffen Andersen & Glenn Harrison & Morten Lau & E. Rutström, 2006. "Elicitation using multiple price list formats," Experimental Economics, Springer, vol. 9(4), pages 383-405, December.
  11. Vermeulen, Frederic, 2002. " Collective Household Models: Principles and Main Results," Journal of Economic Surveys, Wiley Blackwell, vol. 16(4), pages 533-64, September.
  12. Michael Lechner, 2005. "The Empirical Analysis of East German Fertility after," Labor and Demography 0505005, EconWPA.
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