Event Title

Investigating the Endogeneity of Risk Attitudes: Experimental Evidence Involving Cooperation and Competition

Presenter Information

Erik Solli, Colby CollegeFollow

Location

Diamond 341

Start Date

30-4-2015 2:30 PM

End Date

30-4-2015 3:25 PM

Project Type

Presentation

Description

People routinely make decisions in uncertain environments. Moreover, often times decisions are made not in isolation, but in circumstances where individuals have been either exposed to the choices of others or even directly influenced by someone else. While individuals may differ in their inherent willingness to take on risk, their preferences could change when new information is learned or a new relationship is fostered. I designed an experiment in which participants were asked to make investment decisions involving different levels of risk. The participants completed tasks in between these gambles which allowed me to introduce competitive and collaborative relationships. I am interested in two things: first, whether risk attitudes are malleable and, second, whether the type of interaction individuals were exposed to influences the way in which preference for risk changes.

Faculty Sponsor

Andreas Waldkirch

Sponsoring Department

Colby College. Economics Dept.

CLAS Field of Study

Social Sciences

Event Website

http://www.colby.edu/clas

ID

1144

Comments

Erik's Honors Thesis on this topic can be found at: http://digitalcommons.colby.edu/honorstheses/777/

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Apr 30th, 2:30 PM Apr 30th, 3:25 PM

Investigating the Endogeneity of Risk Attitudes: Experimental Evidence Involving Cooperation and Competition

Diamond 341

People routinely make decisions in uncertain environments. Moreover, often times decisions are made not in isolation, but in circumstances where individuals have been either exposed to the choices of others or even directly influenced by someone else. While individuals may differ in their inherent willingness to take on risk, their preferences could change when new information is learned or a new relationship is fostered. I designed an experiment in which participants were asked to make investment decisions involving different levels of risk. The participants completed tasks in between these gambles which allowed me to introduce competitive and collaborative relationships. I am interested in two things: first, whether risk attitudes are malleable and, second, whether the type of interaction individuals were exposed to influences the way in which preference for risk changes.

https://digitalcommons.colby.edu/clas/2015/program/253