Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/168228
Authors: 
Rau, Holger
Müller, Stephan
Year of Publication: 
2017
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2017: Alternative Geld- und Finanzarchitekturen - Session: Experiments - Decision Theory II E18-V4
Abstract: 
This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the interdependence of individual risk attitudes and 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. People's choices are also are sensitive to their degree of inequality aversion.
JEL: 
C91
D03
D63
D81
Document Type: 
Conference Paper

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