Representation and Social Regret in Risk-Taking
Doruk İriş ()
MPRA Paper from University Library of Munich, Germany
Representing others brings responsibility and fear of letting others down (social regret). We incorporate these phenomena in a theoretical model and provide a psychological perspective to explain the individual-group discontinuity in risk-taking activities. A representative makes a state-wise comparison of the consequences of her decision and an unchosen advice given by a group member. Social regret-aversion renders extreme utility differences salient and allows both risky and cautious shifts.
Keywords: Social representation; Social regret-aversion; Risk-taking; Individual-group discontinuity; Risky shift; Cautious shift. (search for similar items in EconPapers)
JEL-codes: A13 D03 D81 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ore and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/77008/1/MPRA_paper_77008.pdf original version (application/pdf)
Working Paper: Representation and Social Regret in Risk-Taking (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:77008
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().