Individual vs. couple behavior: an experimental investigation of risk preferences

Mohammed Abdellaoui, Olivier L’haridon () and Corina Paraschiv
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Olivier L’haridon: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique
Corina Paraschiv: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique, UPD5 - Université Paris Descartes - Paris 5
Authors registered in the RePEc Author Service: Olivier L'Haridon

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Abstract: In this article, we elicit both individuals' and couples' preferences assuming prospect theory (PT) as a general theoretical framework for decision under risk. Our experimental method, based on certainty equivalents, allows to infer measurements of utility and probability weighting at the individual level and at the couple level. Our main results are twofold. First, risk attitude for couples is compatible with PT and incorporates deviations from expected utility similar to those found in individual decision making. Second, couples' attitudes towards risk are found to be consistent with a mix of individual attitudes, women being more influent on couples' preferences at low probability levels.

Keywords: group decisions; prospect theory; Couples; gender; utility; uncertainty; risk (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

Published in Theory and Decision, 2012, 75 (2), pp.175-191. ⟨10.1007/s11238-012-9322-7⟩

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Journal Article: Individual vs. couple behavior: an experimental investigation of risk preferences (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00801311

DOI: 10.1007/s11238-012-9322-7

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