Universität zu Köln

Bolton, Gary E., Ockenfels, Axel ORCID: 0000-0003-1456-0191 and Stauf, Julia (2015). Social responsibility promotes conservative risk behavior. Eur. Econ. Rev., 74. S. 109 - 128. AMSTERDAM: ELSEVIER. ISSN 1873-572X

Full text not available from this repository.

Abstract

Previous studies show that group risk taking can be more conservative than individual risk taking. Two common, but untested reasons for this greater caution are the influence of social responsibility and a tendency to conform to the preferences of others. We study changes in risk taking in simple settings, where another's risk taking can sometimes be observed, and where decisions affect not only one's own payoffs but sometimes also affect those of a passive, second party. We find that social responsibility leads to more conservative risk behavior in group decision making. Conformism has a more symmetric effect: observing the choice of another tends to lead both individual and social decisions toward whatever the other's expressed risk preference is. Direct tests fail to link the social behavior we observe to the social preference for distributional fairness common in decision-making under certainty. (C) 2014 Elsevier B.V. All rights reserved.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Bolton, Gary E. UNSPECIFIED UNSPECIFIED UNSPECIFIED Ockenfels, Axel UNSPECIFIED orcid.org/0000-0003-1456-0191 UNSPECIFIED Stauf, Julia UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-413098
DOI:	10.1016/j.euroecorev.2014.10.002
Journal or Publication Title:	Eur. Econ. Rev.
Volume:	74
Page Range:	S. 109 - 128
Date:	2015
Publisher:	ELSEVIER
Place of Publication:	AMSTERDAM
ISSN:	1873-572X
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Faculty of Management, Economics and Social Sciences > Economics > Macroeconomic, Financial and Economic Policy > Professur für Economics, Design and Behavior Center of Excellence C-SEB
Subjects:	Economics
Uncontrolled Keywords:	Keywords Language INDIVIDUAL BEHAVIOR; BETRAYAL AVERSION; PREFERENCES; SWITZERLAND; ATTITUDES; BRAZIL; TURKEY; GAMES; CHINA; OMAN Multiple languages Economics Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/41309