This paper investigates experimentally whether risk attitudes are stable across social contexts. In particular, it … show that risk attitude is strongly affected by social contexts: participants in the experiment seem to be relatively risk … seeking when they possess a relatively weaker position than the other party and risk averse when the opposite is true. Our …

rather than only for themselves or a stranger, their behavior is closer to expected value maximization, exhibiting less risk …

risk. Furthermore, we determine whether subjects are averse to collective risk - the variability in the sum of payoffs of … the other. The first presentation draws attention to inequality in payoffs, the second to collective risk. We find that … risk changes choice only marginally and not significantly, though in the direction of collective risk reduction. We …