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American Economic Review: Vol. 100 No. 1 (March 2010)

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Betrayal Aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States: Comment

Article Citation

Bolton, Gary E., and Axel Ockenfels. 2010. "Betrayal Aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States: Comment." American Economic Review, 100(1): 628-33.

DOI: 10.1257/aer.100.1.628

Abstract

In a series of binary choice problems, we investigate how a chooser's risk taking changes when others share in their personal risk, either equally or unequally. We find that when the safe option yields inequality, the risky option is taken significantly more often. On the other hand, the inequality resulting from the risky choice does not affect risk taking. We also find that choosers tend to be less risk-averse in a one-person context compared to when the risk also affects the payoff of another. (C72, D81, Z13)

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Authors

Bolton, Gary E. (PA State U)
Ockenfels, Axel (U Cologne)

JEL Classifications

C72: Noncooperative Games
D81: Criteria for Decision-Making under Risk and Uncertainty
Z13: Economic Sociology; Economic Anthropology; Social and Economic Stratification


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