Risk Attitudes and Choice under Uncertainty: Experimental Evidence from Russia
Alexis Belianin ()
EERC Working Paper Series from EERC Research Network, Russia and CIS
This paper presents the results of one of the first experimental studies of individual choice in transitional Russia. The study is based on two standard types of experimental design: on risk attitudes via individual preferences over two-outcome lotteries, and on public good provision under voluntary contribution mechanism. By comparing preferences exhibited by 186 Moscow students to those observed elsewhere in the world, the author attempted to test claims that the Russian national character and/or years of socialist experience causes individual behavior to deviate from "normal" patterns. Both series of results turned out to be remarkably similar to the basic patterns exhibited in analogous studies abroad. However, public choice experiments showed that contribution rates typically increased in proportion to the share of female bidders in a group, a pattern that hasn't been observed in similar experiments in the other countries.
Keywords: Russia, transition, experiment; risk adversity; social welfare payments (search for similar items in EconPapers)
JEL-codes: C91 C92 D82 P20 (search for similar items in EconPapers)
Pages: 46 pages
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