On the social dimension of time and risk preferences: An experimental study

Maria Vittoria Levati (), Werner Güth () and Matteo Ploner

Papers on Strategic Interaction from Max Planck Institute of Economics, Strategic Interaction Group

Abstract: We report on an experiment designed to explore the interrelation of other-regarding concerns with attitudes towards risk and delay when the latter have a social dimension, i.e., pertain to one's own and another person's payoffs. For this sake, we compare evaluations of several prospects, each of which allocates either certain or risky and either immediate or delayed payoffs to the actor and to another participant. We find that individuals are mainly self-oriented as to social allocation of risk and delay, although they are other-regarding with respect to expected payoff levels.

Keywords: Willingness to accept; Risk attitudes; Time preferences; Other-regarding concerns (search for similar items in EconPapers)
JEL-codes: C91 D63 D81 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-exp and nep-fmk
Date: 2005-09
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Related works:
Journal Article: ON THE SOCIAL DIMENSION OF TIME AND RISK PREFERENCES: AN EXPERIMENTAL STUDY (2008)
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Persistent link: http://EconPapers.repec.org/RePEc:esi:discus:2005-26

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