Social risk effects

• Verfasst von: Diekert, Florian [VerfasserIn]
• Verfasst von: Goeschl, Timo [VerfasserIn]
• Verfasst von: König-Kersting, Christian [VerfasserIn]
• Titel: Social risk effects
• Titelzusatz: the "experience of social risk" factor
• Verf.angabe: Florian Diekert, Timo Goeschl, and Christian König-Kersting
• Verlagsort: Heidelberg
• Verlag: Heidelberg University, Department of Economics
• E-Jahr: 2021
• Jahr: 02 Aug. 2021
• Umfang: 1 Online-Ressource (33 Seiten)
• Illustrationen: Illustrationen
• Gesamttitel/Reihe: AWI discussion paper series ; no. 704 (July 2021)
• DOI: doi:10.11588/heidok.00030309
• URN: urn:nbn:de:bsz:16-heidok-303095
• Datenträger: Online-Ressource
• Sprache: eng
• Sach-SW: Social risk
• Sach-SW: risk experience
• Sach-SW: decision-making under risk
• Sach-SW: behavioral economics
• Sach-SW: experiment
• Form-SW: Graue Literatur
• K10plus-PPN: 1765937752
• K10plus-PPN:
  Universitätsbibliothek
• Lokale URL UB: Zum Volltext

Abstract

Anticipating "social risk", or risk caused by humans, affects decision-making differently from anticipating natural risk. Drawing upon a large sample of the US population (n=3,982), we show that the phenomenon generalizes to risk experience. Experiencing adverse outcomes caused by another human reduces future risk-taking, but experiencing the same outcome caused by nature does not. While puzzling from a consequentialist perspective, the Experience of Social Risk Factor that we identify deepens our understanding of decision-making in settings in which outcomes are co-determined by different sources of uncertainty. Our findings imply that a unifying theory of social risk effects requires new explanations.