Konferenzbeitrag
Social Reference Points and Risk Taking
We test whether social reference points impact individual risk taking. In a laboratory experiment, decision makers observe the earnings of a peer subject before making a risky choice. We exogenously manipulate the peer earnings across two treatments. We find a significant treatment effect on risk taking: decision makers vary their risk taking in order to surpass or stay ahead of their peer. Our findings are consistent with a social-comparison-based, reference-dependent preference model that formalizes relative concerns via social loss aversion. Additionally, we relate our findings to the impact of private reference points on risk taking.
- Language
-
Englisch
- Bibliographic citation
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2015: Ökonomische Entwicklung - Theorie und Politik - Session: The effect of peers and social interaction on behaviour ; No. F02-V1
- Classification
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Criteria for Decision-Making under Risk and Uncertainty
- Event
-
Geistige Schöpfung
- (who)
-
Schwerter, Frederik
- Event
-
Veröffentlichung
- (when)
-
2015
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Konferenzbeitrag
Associated
- Schwerter, Frederik
Time of origin
- 2015
Other Objects (12)
Social Reference Points and Risk Taking
Balancing risk taking and financial regulation
Global Imbalances and Bank Risk-Taking
Profit Taxation and Bank Risk Taking
Leverage and Risk Taking under Moral Hazard
Reference Points, Social Norms, and Fairness in Contract Renegotiations
Bank Risk Taking, Credit Booms and Monetary Policy
Risk analysis in the critical pigmeat control points
Impact of managerial risk-taking and IRM on innovation
Risk Taking Behavior in Tournaments - Evidence from the NBA
To Choose or Not to Choose: Contracts, Reference Points, Reciprocity, and Signaling
Bank Risk Taking and Competition: Evidence from Regional Banking Markets
Social Reference Points and Risk Taking
Balancing risk taking and financial regulation
Global Imbalances and Bank Risk-Taking
Profit Taxation and Bank Risk Taking
Leverage and Risk Taking under Moral Hazard
Reference Points, Social Norms, and Fairness in Contract Renegotiations
Bank Risk Taking, Credit Booms and Monetary Policy
Risk analysis in the critical pigmeat control points
Impact of managerial risk-taking and IRM on innovation
Risk Taking Behavior in Tournaments - Evidence from the NBA
To Choose or Not to Choose: Contracts, Reference Points, Reciprocity, and Signaling
Bank Risk Taking and Competition: Evidence from Regional Banking Markets
Social Reference Points and Risk Taking
Balancing risk taking and financial regulation
Global Imbalances and Bank Risk-Taking
Profit Taxation and Bank Risk Taking
Leverage and Risk Taking under Moral Hazard
Reference Points, Social Norms, and Fairness in Contract Renegotiations
Bank Risk Taking, Credit Booms and Monetary Policy
Risk analysis in the critical pigmeat control points
Impact of managerial risk-taking and IRM on innovation
Risk Taking Behavior in Tournaments - Evidence from the NBA
To Choose or Not to Choose: Contracts, Reference Points, Reciprocity, and Signaling