The brief working paper describes a hypothetical-choice study on risk taking for self and others. The study asks participants to choose between a risky and safe lunch sandwich option for themselves and for a friend. Surrogate choices were significantly more cautious than personal ones. This...

Upon his capture in 1934, the legendary bank robber Willie Sutton was asked by FBI agents, Why do you rob banks, Willie? Sutton, who believed the question to be rhetorical, replied, dryly, Because that's where the money is. In other words, Sutton understood his interrogator to be inquiring as to...

We elicit individual preferences over social risk. We identify the extent to which these preferences are correlated with individual preferences over individual risk and individual preferences over the well-being of others. We examine these preferences in the context of laboratory experiments...

Although different approaches and methods have been used to measure inequality aversion, there remains no consensus about its drivers at the individual level. We conducted an experiment on a sample of more than 1800 first-year undergraduate economics and business students in Uruguay to...

In some applications to human beings, the precautionary principle seems to raise specific ethical concerns. For instance, it has been used to exclude men who have sexual relations with men from donating blood on the basis of a higher HIV prevalence in this group. Does not the precautionary...

This paper comprehensively explores the compelling framework encompassing Opportunity Econophysics, Opportunity Cones, Conscious Agents, and the Traces of the Conscious Dimension within the context of economic systems. The interdisciplinary nature of this framework integrates concepts from...

The expectation of a sum of utilities is a core criterion for evaluating policies and social welfare under variable population and social risk. Our contribution is to show that a previously unrecognized combination of weak assumptions yields general versions of this criterion, both in...

As the study of entrepreneurship and the study of business ethics become increasingly established, the intersection of entrepreneurship and ethics is receiving increasing scholarly attention. In this paper, we review the research connecting ethics and entrepreneurship, classifying the literature...

Many personally risky decisions, such as innovation and entrepreneurship, have the potential to increase overall welfare by creating positive externalities for society. Rewarding such prosocial risk-taking may be an important strategy in addressing societal challenges like, for example, the...

We present a theoretical framework to study risk and other-regarding preferences. The model can explain the main behavioral patterns in the combined domain and is the first to disentangle elementary attitudes on risk, altruism, social substitution, ex-ante inequality, and ex-post inequality. We...