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American Economic Review: Vol. 98 No. 1 (March 2008)
AER Volume. 98, Issue 1 | 
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Betrayal Aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States
Article Citation
Bohnet, Iris,
Fiona Greig,
Benedikt Herrmann, and
Richard Zeckhauser. 2008. "Betrayal Aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States."
American Economic Review,
98(1): 294-310.
DOI: 10.1257/aer.98.1.294
DOI: 10.1257/aer.98.1.294
Abstract
Due to betrayal aversion, people take risks less willingly when the agent of
uncertainty is another person rather than nature. Individuals in six countries
(Brazil, China, Oman, Switzerland, Turkey, and the United States) confronted
a binary-choice trust game or a risky decision offering the same payoffs and
probabilities. Risk acceptance was calibrated by asking individuals their "minimum
acceptable probability" (MAP) for securing the high payoff that would
make them willing to accept the risky rather than the sure payoff. People's
MAPs are generally higher when another person, rather than nature, determines
the outcome. This indicates betrayal aversion. (JEL C72, D81, Z13)
Article Full-Text Access
Full-text Article
Additional Materials
Download Data Set (11.19 KB) | Link to Appendix (67.90 KB)
Authors
Bohnet, Iris (Harvard U)
Greig, Fiona (Harvard U)
Herrmann, Benedikt (U Nottingham)
Zeckhauser, Richard (Harvard U)
Greig, Fiona (Harvard U)
Herrmann, Benedikt (U Nottingham)
Zeckhauser, Richard (Harvard U)
JEL Classifications
C72: Noncooperative Games
D81: Criteria for Decision-Making under Risk and Uncertainty
Z13: Economic Sociology; Economic Anthropology
D81: Criteria for Decision-Making under Risk and Uncertainty
Z13: Economic Sociology; Economic Anthropology
