Decision Sciences
4 years ago

Income inequality shapes risk-taking behavior in social decision-making contexts.

SSRN Electronic Journal
Decisions Under Uncertainty in Social Contexts
Stephan Müller, Holger A. Rau

Paper Summary

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The article explores how people make decisions in uncertain and social situations. It shows that individuals are less afraid of taking risks when they are behind their peers, but become more cautious when income inequality is high. People's choices are influenced by how much they dislike inequality. This research helps us understand how people make decisions in situations like investing in stocks, managing money, or donating to charity when things are uncertain.