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

Gary E. Bolton | Zendy; Axel Ockenfels | Zendy

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

Author(s) -

Gary E. Bolton,

Axel Ockenfels

Publication year - 2010

Publication title -

american economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 16.936

H-Index - 297

eISSN - 1944-7981

pISSN - 0002-8282

DOI - 10.1257/aer.100.1.628

Subject(s) - betrayal , economics , risk aversion (psychology) , context (archaeology) , inequality , china , affect (linguistics) , stochastic game , actuarial science , financial economics , social psychology , microeconomics , psychology , expected utility hypothesis , political science , geography , mathematical analysis , mathematics , archaeology , communication , law

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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