Is human life worth peanuts? Risk attitude changes in accordance with varying stakes

Kazumi Shimizu*, Daisuke Udagawa

*この研究の対応する著者

研究成果査読

抄録

Risk aversion is well-known as a general and robust characteristic of people’s decision making: people are less likely to gamble when they are unsure if they will obtain the expected value of the bet made. The “peanuts effect” is, however, an exception to this general rule. The “peanuts effect,” which states that people are more willing to gamble when playing for “peanuts” (a small outcome), has been stably observed in the context of a small monetary stake. We conducted two types of experiments to verify whether the peanuts effect still occurred when the type of stakes changed. We had two main findings. On the one hand, people tended to gamble more for a qualitatively smaller value when the stake was material in nature, meaning that the “peanuts effect” occurred with a qualitatively low stake. On the other hand, people were willing to take a risk for a qualitatively larger value when the stake was a human life: this is the opposite phenomenon of the “peanuts effect.”

本文言語English
論文番号e0201547
ジャーナルPloS one
13
8
DOI
出版ステータスPublished - 2018 8

ASJC Scopus subject areas

  • 生化学、遺伝学、分子生物学(全般)
  • 農業および生物科学(全般)
  • 一般

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