Showing 1 - 10 of 10
We study theoretically and experimentally decision making under uncertainty in a social environment. We introduce an interdependent preferences model that assumes that the decision maker evaluates monetary outcomes in relation both with his individual and his social reference point. In the...
Persistent link: https://www.econbiz.de/10010253153
experiments by a combination of selfishness and concerns for distributive justice. Most participants conform very well with the … therefore demonstrates that most participants' behaviour in dictator experiments can be explained by a combination of …
Persistent link: https://www.econbiz.de/10010370990
recover individual notions of distributive justice from data collected in appropriately designed experiments. "Dictator games … planner" experiments or experiments under a "veil of ignorance" (Rawls 1971) can be used to recover larger parts of the notion … necessarily incentive-compatible, and to recover a greater part of an individual's preference relation in dictator experiments …
Persistent link: https://www.econbiz.de/10010370991
Using survey data from the International Social Survey Program, we investigate how individual preferences for redistribution and public spending are affected by gender, income and expected future living standard. Applying the concept of the equivalent income, we find that some respondents obtain...
Persistent link: https://www.econbiz.de/10010475642
-regarding preferences ; social preferences ; decision making under risk ; single-peaked preferences ; experiments …
Persistent link: https://www.econbiz.de/10009306937
Willingness to take risk depends on whether the risk affects others as well as oneself and on how the risk affects oneś position vis-á-vis others. Taking a bet can improve oneś position relative to others or threaten it. We present an experiment that explores individual attitudes to lotteries...
Persistent link: https://www.econbiz.de/10009784058
In many different contexts individuals take decisions on the behalf of others. However, little is known about how this circumstance affects the decision making process and influences the ultimate individuals ́choices. In this paper, we focus on the context of investment decisions and study if...
Persistent link: https://www.econbiz.de/10010252387
This paper studies the effects of social comparison on risk taking be- havior. In our framework, decision makers evaluate the consequences of their choices as changes with respect to both their own and their peers’ conditions. We test experimentally whether different positions in the social...
Persistent link: https://www.econbiz.de/10010475612
also depends on whether the lottery gives equal payoffs ex-post. Experiments usually present payoffs side-by-side (payoff … for me, payoff for the other). This draws attention to inequality in payoffs and thus gives weight to fairness concerns … explicitly draws attention to risk at the level of the pair and may thus moderate dislike for negatively correlated lotteries, as …
Persistent link: https://www.econbiz.de/10011295782
A common feature of the literature on the evolution of preferences is that evolution favors nonmaterialistic preferences only if preference types are observable at least to some degree. We argue that this result is due to the assumption that in each state of the evolutionary dynamics some...
Persistent link: https://www.econbiz.de/10009230354