Altruistic and risk preference of individuals and groups

Date: 2016-10
By: Yoshio Kamijo (School of Economics and Management, Kochi University of Technology)
Teruyuki Tamura (School of Economics and Management, Kochi University of Technology)
URL: http://d.repec.org/n?u=RePEc:kch:wpaper:sdes-2016-12&r=net
This study examines whether attitudes toward risk and altruism are affected by being in a group or being alone. Subjects in our experiment were requested only to show their faces to other members without any further communication, differing from previous studies. In experiments of both anonymous investments and donations, we found that subjects who made decisions in a group offered significantly lower amounts than individuals who made decisions alone, even controlling for individuals’ risk and altruistic preferences. Our results indicate that people are more risk averse and self-interested when they are in a group.
Keywords: Group decision, Altruism, Decision under risk
JEL: C91 C92 D81
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