期刊
SCANDINAVIAN JOURNAL OF ECONOMICS
卷 122, 期 2, 页码 648-674出版社
WILEY
DOI: 10.1111/sjoe.12353
关键词
Competition; hedging; incentives; risk-taking; social preferences
类别
资金
- Carlsberg Foundation
- Swedish Competition Authority
Decision-makers often face incentives to increase risk-taking on behalf of others (e.g., they are offered bonus contracts and contracts based on relative performance). We conduct an experimental study of risk-taking on behalf of others using a large heterogeneous sample, and we find that people respond to such incentives without much apparent concern for stakeholders. Responses are heterogeneous and mitigated by personality traits. The findings suggest that a lack of concern for others' risk exposure hardly requires financial psychopaths in order to flourish, but it is diminished by social concerns.
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