Risk Attitude and Social Preferences - Theoretical and Experimental Studies

2015 Fiscal Year Final Research Report

• Project/Area Number: 23530216
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Economic theory
• Research Institution: Shinshu University
• Principal Investigator: NISHIMURA Naoko 信州大学, 学術研究院社会科学系, 教授 (30218200)
• Co-Investigator(Renkei-kenkyūsha): AOYAGI Masaki 大阪大学, 社会経済研究所, 教授 (50314430)
• Research Collaborator: CHEW Soo Hong National University of Singapore, Professor
• Project Period (FY): 2011-04-28 – 2016-03-31
• Keywords: 社会的選好 / リスク姿勢 / 効用理論 / 実験 / ゲーム理論

Outline of Final Research Achievements

We showed that what type of social preferences is induced and how strong it is depends upon the interactive property among players in a game, and the inducement of social preferences is more likely in the conflicting game rather than the game with common interest among players, specifically via the experiment of multi-unit auction market and coordination game with voluntary transfer. Further, we proposed a new measure of risk aversion without using certainty equivalents, and experimentally showed our subjects are more willing to take a risk when the risk is generated endogenously through strategic interaction in a game than when the risk is generated exogenously. In addition, we revealed that individuals find an intrinsic value from participating in the process of generating risk, which we label "interactive risk", and such endogenous risk should be dealt distinctively from exogenous risk.

Free Research Field

理論経済学　ミクロ経済学　実験経済学