Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/155761 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
cege Discussion Papers No. 290
Versionsangabe: 
March 2017
Verlag: 
University of Göttingen, Center for European, Governance and Economic Development Research (cege), Göttingen
Zusammenfassung: 
This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the interdependence of individual risk attitudes and social preferences in the form of inequality aversion as two decisive behavioral determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind peers, whereas it is amplified under favorable income inequality. Moreover, people's choices are not only contextdependent, but are sensitive to their degree of inequality aversion. The majority of our experimental findings cannot be rationalized by rank-dependent utility models or cumulative prospect theory. Our results contribute to the basic understanding of the underlying motives of private households' saving decisions, employees' careertrack choices or charitable giving under uncertainty.
Schlagwörter: 
choice under uncertainty
social comparison
inequality aversion
risk preferences
JEL: 
C91
D03
D63
D81
Dokumentart: 
Working Paper

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