Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/179413
Authors: 
Morone, Andrea
Nemore, Francesco
Temerario, Tiziana
Year of Publication: 
2017
Series/Report no.: 
EERI Research Paper Series 12/2017
Abstract: 
In this paper we investigated group size impact on risk aversion when a majority rule is applied. Drawing on the widely used Holt and Laury's (2002) lottery pairs, we observed a risky shift for both individual and groups regardless of their size. However, groups choices are shown to be closer to the risk-neutrality prediction. More interestingly, whereas smaller groups attitudes can be safely approximated by individual choices, larger groups reveal a statistically different risk-loving attitude. This risky shift becomes more prominent as group size increases.
Subjects: 
Preferences
Group
Risk Attitude
Majority Rule
Laboratory
JEL: 
C91
C92
D01
Document Type: 
Working Paper

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