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Responsibility effects in decision making under risk
[working paper]
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Wissenschaftszentrum Berlin für Sozialforschung gGmbH
Abstract We explore situations in which a decision-maker bears responsibility for somebody else's outcomes as well as for her own. For gains we confirm the intuition that being responsible for somebody else's payoffs increases risk aversion, while in the loss domain we find increased risk seeking. In a secon... view more
We explore situations in which a decision-maker bears responsibility for somebody else's outcomes as well as for her own. For gains we confirm the intuition that being responsible for somebody else's payoffs increases risk aversion, while in the loss domain we find increased risk seeking. In a second experiment we replicate the finding of increased risk aversion for large probabilities of a gain, while for small probability gains we find an increase of risk seeking under conditions of responsibility. This discredits hypotheses of a cautious shift under responsibility, and indicates an accentuation of the fourfold pattern of risk attitudes usually found for individual choices. (author's abstract)... view less
Keywords
social norm; risk behavior; responsibility; decision; decision making; risk assessment
Classification
General Sociology, Basic Research, General Concepts and History of Sociology, Sociological Theories
Sociology of Economics
Document language
English
Publication Year
2012
City
Berlin
Page/Pages
33 p.
Series
Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Markt und Entscheidung, WZB-Nachwuchsgruppe Risiko und Entwicklung, SP II 2012-402
Handle
https://hdl.handle.net/10419/71135
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications