An Experiment on Risky Choice Amongst Households  

Oleh:

Bateman, Ian ; Munro, Alistair

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 115 no. 502 (Mar. 2005), page C176-C189.
Topik: household; risky choice; households
Fulltext: C176.pdf (129.74KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.17 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

A host of experiments have examined theories of risky choice using individuals. However, many important economic decisions are taken within multi - adult households. This paper reports on the first economic experiment designed to test theories of household choice. We use established couples and face them individually and jointly with decisions involving monetary payoffs. We find that joint choices typically are more risk averse than those made by individuals. Meanwhile, choices made by couples exhibit the same kinds of departures from expected utility theory (e. g. the common ratio and common consequence effects) as are regularly recorded with individuals.

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