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The needs of the many, the wealth of the few: How responsibility affects decision-making for others

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  • Buckle, Georgia E.
  • Füllbrunn, Sascha
  • Luhan, Wolfgang J.

Abstract

We test whether the number of principals or the investment amount amplify responsibility in risky decision-making for others. We do not find increased caution for more people, but rather an effect of increased endowment per person, but not in total.

Suggested Citation

  • Buckle, Georgia E. & Füllbrunn, Sascha & Luhan, Wolfgang J., 2024. "The needs of the many, the wealth of the few: How responsibility affects decision-making for others," Economics Letters, Elsevier, vol. 244(C).
    • Handle: RePEc:eee:ecolet:v:244:y:2024:i:c:s0165176524004701
    DOI: 10.1016/j.econlet.2024.111986
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    More about this item

    Keywords

    Decision-making for others; Responsibility; Risky decisions; Group size; Stake size;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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