IMPACTS OF SOCIAL CAPITAL ON INVESTMENT BEHAVIOR UNDER RISK

Steven D. Hanson and Lindon Robison

No 11533, Staff Paper Series from Michigan State University, Department of Agricultural, Food, and Resource Economics

Abstract: Implicit in most applications of the expected utility (EU) model is the assumption that only the decision maker's own income matters. Moreover, studies that estimate risk preferences typically measure how individuals respond to changes in the level and likelihood of having their own income altered (Young). The focus on own income in the EU model is consistent with the assumption most often applied in the neoclassical economic paradigm; namely, that the identity of participants in an economic exchange does not affect the outcome (Telser and Higinbotham).

Keywords: Institutional and Behavioral Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 23
Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/11533/files/sp01-51.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:midasp:11533

DOI: 10.22004/ag.econ.11533

Access Statistics for this paper

More papers in Staff Paper Series from Michigan State University, Department of Agricultural, Food, and Resource Economics Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().