Decision makers with other-regarding preferences may care not just about others' outcomes but also about their opportunities. In social situations involving risk, this often results in their choices violating stochastic dominance, a property that underlies both expected and non-expected utility...

We propose and axiomatize a decision model of social preferences under risk that captures motivated reasoning in social assessments. Our model considers a setup with a decision maker (DM) and one other individual. It highlights how the presence of risk enables the DM to egoistically exploit the...