TY  - GEN
KW  - social risk
KW  -  risk experience
KW  -  decision-making under risk
ID  - heidok30309
Y1  - 2021/07//
T3  - Discussion Paper Series / University of Heidelberg, Department of Economics
TI  - Social Risk Effects: The 'Experience of Social Risk' Factor
CY  - Heidelberg
AV  - public
N2  - 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.
UR  - https://archiv.ub.uni-heidelberg.de/volltextserver/30309/
EP  - 32
A1  - Diekert, Florian
A1  - Goeschl, Timo
A1  - König-Kersting, Christian
ER  -