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Empathy in risky choices regarding others

Author

Listed:
  • Erita Narhetali

    (Group for Research in Applied Economics (GRAPE))

  • Magdalena Smyk

    (Group for Research in Applied Economics (GRAPE)
    Warsaw School of Economics)

  • Marek Weretka

    (Group for Research in Applied Economics (GRAPE)
    University of Wisconsin-Madison)

Abstract

One of the assumptions of the affective empathy theory is that individuals have consistent preferences over outcomes. However, there is empirical evidence showing violation of such assumption. In particular, in Asian disease experiment subjects are more likely to choose risky over safe rescue plan (with the same expected outcome) under loss than under gain framing. In this study, we induce empathy in the Asian disease study to test whether providing sympathetic or antipathetic relationship between decision-maker and the others affect the size of the framing gap (GvL gap). We find that inducing affection leads to reduction of the gap.

Suggested Citation

  • Erita Narhetali & Magdalena Smyk & Marek Weretka, 2023. "Empathy in risky choices regarding others," GRAPE Working Papers 91, GRAPE Group for Research in Applied Economics.
    • Handle: RePEc:fme:wpaper:91
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    File URL: https://grape.org.pl/WP/91_Narhetali_website.pdf
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    More about this item

    Keywords

    Affect empathy; Asian disease problem; empathetic altruism;
    All these keywords.

    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • C93 - Mathematical and Quantitative Methods - - Design of Experiments - - - Field Experiments
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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