@article{ref1,
title="Risk-taking in social settings: group and peer effects",
journal="Journal of economic behavior and organization",
year="2013",
author="Bougheas, Spiros and Nieboer, Jeroen and Sefton, Martin",
volume="92",
number="100",
pages="273-283",
abstract="We investigate experimentally the effect of consultation (unincentivized advice) on choices under risk in an incentivized investment task. We compare consultation to two benchmark treatments: one with isolated individual choices, and a second with group choice after communication. Our benchmark treatments replicate findings that groups take more risk than individuals in the investment task; content analysis of group discussions reveals that higher risk-taking in groups is positively correlated with mentions of expected value. In our consultation treatments, we find evidence of peer effects: decisions within the peer group are significantly correlated. However, average risk-taking after consultation is not significantly different from isolated individual choices. We also find that risk-taking after consultation is not affected by adding a feedback stage in which subjects see the choices of their consultation peers.<p /> <p>Language: en</p>",
language="en",
issn="0167-2681",
doi="10.1016/j.jebo.2013.06.010",
url="http://dx.doi.org/10.1016/j.jebo.2013.06.010"
}