title: Social Risk Effects: The 'Experience of Social Risk' Factor
creator: Diekert, Florian
creator: Goeschl, Timo
creator: König-Kersting, Christian
subject: ddc-330
subject: 330 Economics
description: 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.
date: 2021-07
type: Working paper
type: info:eu-repo/semantics/workingPaper
type: NonPeerReviewed
format: application/pdf
identifier: https://archiv.ub.uni-heidelberg.de/volltextserverhttps://archiv.ub.uni-heidelberg.de/volltextserver/30309/7/Diekert_Goeschl_K%C3%B6nig-Kersting_2021_dp704.pdf
identifier: DOI:10.11588/heidok.00030309
identifier: urn:nbn:de:bsz:16-heidok-303095
identifier:   Diekert, Florian ; Goeschl, Timo ; König-Kersting, Christian  (2021) Social Risk Effects: The 'Experience of Social Risk' Factor.  [Working paper]     
relation: https://archiv.ub.uni-heidelberg.de/volltextserver/30309/
rights: info:eu-repo/semantics/openAccess
rights: http://archiv.ub.uni-heidelberg.de/volltextserver/help/license_urhg.html
language: eng