Let Me See You! A Video Experiment on the Social Dimension of Risk Preferences

Werner Gueth (), Maria Levati and Matteo Ploner
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Werner Gueth: Max Planck Institute of Economics, Jena, Strategic Interaction Group
Authors registered in the RePEc Author Service: Werner Güth ()

No 2007-005, Jena Economics Research Papers from Friedrich-Schiller-University Jena

Abstract: Previous studies have shown that decision makers are less other-regarding when their own payoff is risky than when it is sure. Empirical observations also indicate that people care more about identifiable than unidentifiable others. In this paper, we report on an experiment designed to explore whether rendering the other identifiable - via a short speechless video - can affect the relation between other-regarding concerns and attitudes toward social risk. For this sake, we elicit risk attitudes under two treatments differing in whether the actor can see the other or not. We find that seeing the other does not affect behavior significantly: regardless of the treatment, individuals are mainly self-oriented as to social allocation of risk, though they are other-regarding with respect to expected payoff levels.

Keywords: Risk attitudes; other-regarding concerns; identifiability (search for similar items in EconPapers)
JEL-codes: C90 D63 D81 (search for similar items in EconPapers)
Date: 2007-04-20
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
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Journal Article: Let Me See You! A Video Experiment on the Social Dimension of Risk Preferences (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:jrp:jrpwrp:2007-005

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