eprintid: 30309
rev_number: 20
eprint_status: archive
userid: 3114
dir: disk0/00/03/03/09
datestamp: 2021-08-02 12:13:38
lastmod: 2021-12-15 15:50:30
status_changed: 2021-08-02 12:13:38
type: workingPaper
metadata_visibility: show
creators_name: Diekert, Florian
creators_name: Goeschl, Timo
creators_name: König-Kersting, Christian
title: Social Risk Effects: The 'Experience of Social Risk' Factor
subjects: ddc-330
divisions: i-181000
keywords: social risk, risk experience, decision-making under risk
cterms_swd: behavioral economics
cterms_swd: experiment
abstract: 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
id_scheme: DOI
id_number: 10.11588/heidok.00030309
schriftenreihe_cluster_id: sr-3
schriftenreihe_order: 0704
ppn_swb: 1765937752
own_urn: urn:nbn:de:bsz:16-heidok-303095
language: eng
bibsort: DIEKERTFLOSOCIALRISK202107
full_text_status: public
series: Discussion Paper Series / University of Heidelberg, Department of Economics
volume: 0704
place_of_pub: Heidelberg
pages: 32
citation:   Diekert, Florian ; Goeschl, Timo ; König-Kersting, Christian  (2021) Social Risk Effects: The 'Experience of Social Risk' Factor.  [Working paper]     
document_url: https://archiv.ub.uni-heidelberg.de/volltextserver/30309/7/Diekert_Goeschl_K%C3%B6nig-Kersting_2021_dp704.pdf