SOCIAL CAPITAL AND RISK RESPONSES

Lindon Robison and Steven D. Hanson

No 11504, Staff Paper Series from Michigan State University, Department of Agricultural, Food, and Resource Economics

Abstract: The economic well-being of economic agents is assumed to be interpersonally dependent. The extent of this interpersonal dependency varies according to the strength of relationships, values, and social bonds and is measured using social capital coefficients in a neoclassical model in which agents with stable preferences maximize utility. The model's predictions are tested empirically by asking agents how their willingness to bear a risk is altered when their refusal to accept the risk increases the risk faced by others.

Keywords: Institutional and Behavioral Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 24
Date: 1996
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:midasp:11504

DOI: 10.22004/ag.econ.11504

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