Une étude expérimentale du degré individuel et collectif d'aversion au risque
Youenn Loheac () and
Economie & Prévision, 2008, vol. n° 185, issue 4, 89-101
Our paper focuses on decision-making under risk. We compare group preferences and individual preferences over risk using a lottery-choice experiment inspired by Holt and Laury (2002). In our individual procedure, subjects made lottery choices individually. In our group procedure, groups of three subjects had to reach unanimous lottery-choice decisions through a vote. In a third procedure, called choice procedure, subjects could choose their preferred decision-making method endogenously. Our main findings are that groups are more likely to choose safe lottery than individuals. The results alsoindicate a positive relationship between preference for risk and willingness to decide alone. The degree of risk aversion is mainly determined by individual characteristics.
Keywords: risk aversion; individual choices; collective choices (search for similar items in EconPapers)
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Journal Article: Une étude expérimentale du degré individuel et collectif d’aversion au risque (2008)
Working Paper: Une étude expérimentale du degré individuel et collectif d'aversion au risque (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:cai:ecoldc:ecop_185_0089
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