SOCIAL CAPITAL AND RISK RESPONSES

The economic well-being of economic agents is assumed to be interpersonally dependent. The extent of this interpersonal dependency varies according to the strength of relationships, values, and social bonds and is measured using social capital coefficients in a neoclassical model in which agents with stable preferences maximize utility. The model's predictions are tested empirically by asking agents how their willingness to bear a risk is altered when their refusal to accept the risk increases the risk faced by others.


Issue Date:
1996
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/11504
Total Pages:
24
Series Statement:
Staff Paper 96-90




 Record created 2017-04-01, last modified 2017-08-23

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