An experimental investigation of social risk preferences for health

Arthur Attema, Olivier L'Haridon and Gijs van de Kuilen
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Gijs van de Kuilen: Tilburg University [Netherlands]

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Abstract: In this paper, we use the risk apportionment technique of Eeckhoudt, Rey and Schlesinger (2007) to study higher order risk preferences for others' health as well as ex-ante and ex-post inequality preferences for social risky distributions, and their interaction. In an experiment on a sample of university students acting as impartial spectators, we observe risk aversion towards social health losses and a dislike of ex-ante inequality. In addition, evidence for ex-post inequality seeking is much weaker than evidence for ex-ante inequality aversion. Because ex-ante inequality aversion is unrelated to risk aversion, we conclude that simple forms of utilitarianism are not relevant for individual judgment of social risk over health. Last, our investigation of precautionary distribution, which would occur when one particular group in the society suffers from background health risk, shows substantial polarization of preferences.

Keywords: Social risk; Ex-ante social welfare; Ex-post social welfare; Risk apportionment (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-exp, nep-hea, nep-mac, nep-rmg and nep-upt
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Published in Theory and Decision, 2023, ⟨10.1007/s11238-023-09928-w⟩

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Journal Article: An experimental investigation of social risk preferences for health (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04116959

DOI: 10.1007/s11238-023-09928-w

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