Event Title
Investigating the Endogeneity of Risk Attitudes: Experimental Evidence Involving Cooperation and Competition
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
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
Comments
Erik's Honors Thesis on this topic can be found at: http://digitalcommons.colby.edu/honorstheses/777/