Empathy in risky choices regarding others

Erita Narhetali, Magdalena Smyk and Marek Weretka
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Erita Narhetali: Group for Research in Applied Economics (GRAPE)

No 91, GRAPE Working Papers from GRAPE Group for Research in Applied Economics

Abstract: One of the assumptions of the affective empathy theory is that individuals have consistent preferences over outcomes. However, there is empirical evidence showing violation of such assumption. In particular, in Asian disease experiment subjects are more likely to choose risky over safe rescue plan (with the same expected outcome) under loss than under gain framing. In this study, we induce empathy in the Asian disease study to test whether providing sympathetic or antipathetic relationship between decision-maker and the others affect the size of the framing gap (GvL gap). We find that inducing affection leads to reduction of the gap.

Keywords: Affect empathy; Asian disease problem; empathetic altruism (search for similar items in EconPapers)
JEL-codes: C93 D64 D91 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2023
New Economics Papers: this item is included in nep-exp and nep-sea
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