Informal risk-sharing cooperatives: the effect of learning and other-regarding preferences

Victorien Barbet (), Renaud Bourlès () and Juliette Rouchier ()
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Victorien Barbet: AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique
Juliette Rouchier: LAMSADE - Laboratoire d'analyse et modélisation de systèmes pour l'aide à la décision - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique

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Abstract: We study the dynamics of risk-sharing cooperatives among heterogeneous agents. Based of their knowledge on their risk exposure and the performance of the cooperatives, agents choose whether or not to remain in the risk-sharing agreement. We highlight the key role of other-regarding preference (altruism and inequality aversion) in stabilizing less segregated (and smaller) cooperatives. Limited knowledge and learning of own risk exposure also contributes to reducing segregation, the two effects (of learning and other-regarding preferences) being complementary. Our findings shed light on the mechanisms behind risk-sharing agreements between agents heterogeneous in their risk exposure.

Keywords: risk-sharing; agent-based; cooperative; learning; altruism; other-regarding preferences (search for similar items in EconPapers)
Date: 2020-04
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Published in Journal of Evolutionary Economics, 2020, 30 (2), pp.451-478. ⟨10.1007/s00191-019-00644-9⟩

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Related works:
Journal Article: Informal risk-sharing cooperatives: the effect of learning and other-regarding preferences (2020)
Working Paper: Informal Risk-Sharing Cooperatives: The Effect of Learning and Other-Regarding Preferences (2017)
Working Paper: Informal Risk-Sharing Cooperatives: The Effect of Learning and Other-Regarding Preferences (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02864652

DOI: 10.1007/s00191-019-00644-9

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