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Attitudes toward Private and Collective Risks in Individual and Strategic Choice Situations

  • Geoffrey Brennan
  • Werner Güth

    ()

  • Luis G. Gonzalez
  • M. Vittoria Levati

    ()

Idiosyncratic risk attitudes are usually assumed to be commonly known and restricted to own payoffs. However, the alternatives faced by a decision maker often involve risks for others' payoffs as well. Motivated by the importance of other-regarding preferences in social interactions, this paper explores idiosyncratic attitudes toward own and others' risks. We elicit risk attitudes in an experiment involving choices with and without strategic interaction.

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Paper provided by Max Planck Institute of Economics, Strategic Interaction Group in its series Papers on Strategic Interaction with number 2005-22.

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Length: 25 pages
Date of creation: Sep 2005
Date of revision:
Handle: RePEc:esi:discus:2005-22
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