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Economic behavior under the influence of alcohol: an experiment on time preferences, risk-taking, and altruism.

Corazzini L, Filippin A, Vanin P - PLoS ONE (2015)

Bottom Line: We report results from an incentivized laboratory experiment undertaken with the purpose of providing controlled evidence on the causal effects of alcohol consumption on risk-taking, time preferences and altruism.All subjects participated in a series of economic tasks administered in the same sequence across treatments.After controlling for both the willingness to pay for an object and the potential misperception of probabilities as elicited in the experiment, we detect no effect of alcohol in depleting subjects' risk tolerance.

View Article: PubMed Central - PubMed

Affiliation: Department of Law Science and History of Institutions, University of Messina, Messina, Italy, and ISLA, Bocconi University, Milan, Italy.

ABSTRACT
We report results from an incentivized laboratory experiment undertaken with the purpose of providing controlled evidence on the causal effects of alcohol consumption on risk-taking, time preferences and altruism. Our design disentangles the pharmacological effects of alcohol intoxication from those mediated by expectations, as we compare the behavior of three groups of subjects: those who participated in an experiment with no reference to alcohol, those who were exposed to the possibility of consuming alcohol but were given a placebo and those who effectively consumed alcohol. All subjects participated in a series of economic tasks administered in the same sequence across treatments. After controlling for both the willingness to pay for an object and the potential misperception of probabilities as elicited in the experiment, we detect no effect of alcohol in depleting subjects' risk tolerance. However, we find that alcohol intoxication increases impatience and makes subjects less altruistic.

No MeSH data available.


Related in: MedlinePlus

Misperception of Blood Alcohol Concentration (MPBAC).
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pone.0121530.g003: Misperception of Blood Alcohol Concentration (MPBAC).

Mentions: At both recording times, MPBAC is significantly higher in ALC-P than in ALC-T. A Mann-Whitney test rejects the hypothesis that MPBAC is equal in the two treatments with p = 0.0064 (for MPBAC2 equality is rejected with p < 0.0001). Fig. 3 shows the distribution of MPBAC in the two ALC conditions. Our design has been effective in inducing among the participants in ALC-P the belief that they had consumed alcohol. This offers a good basis on which to identify the pharmacological and placebo effects of alcohol, since the design reduces the strongly positive correlation between perceived and actual alcohol intake that would have been observed otherwise.


Economic behavior under the influence of alcohol: an experiment on time preferences, risk-taking, and altruism.

Corazzini L, Filippin A, Vanin P - PLoS ONE (2015)

Misperception of Blood Alcohol Concentration (MPBAC).
© Copyright Policy
Related In: Results  -  Collection

License
Show All Figures
getmorefigures.php?uid=PMC4390359&req=5

pone.0121530.g003: Misperception of Blood Alcohol Concentration (MPBAC).
Mentions: At both recording times, MPBAC is significantly higher in ALC-P than in ALC-T. A Mann-Whitney test rejects the hypothesis that MPBAC is equal in the two treatments with p = 0.0064 (for MPBAC2 equality is rejected with p < 0.0001). Fig. 3 shows the distribution of MPBAC in the two ALC conditions. Our design has been effective in inducing among the participants in ALC-P the belief that they had consumed alcohol. This offers a good basis on which to identify the pharmacological and placebo effects of alcohol, since the design reduces the strongly positive correlation between perceived and actual alcohol intake that would have been observed otherwise.

Bottom Line: We report results from an incentivized laboratory experiment undertaken with the purpose of providing controlled evidence on the causal effects of alcohol consumption on risk-taking, time preferences and altruism.All subjects participated in a series of economic tasks administered in the same sequence across treatments.After controlling for both the willingness to pay for an object and the potential misperception of probabilities as elicited in the experiment, we detect no effect of alcohol in depleting subjects' risk tolerance.

View Article: PubMed Central - PubMed

Affiliation: Department of Law Science and History of Institutions, University of Messina, Messina, Italy, and ISLA, Bocconi University, Milan, Italy.

ABSTRACT
We report results from an incentivized laboratory experiment undertaken with the purpose of providing controlled evidence on the causal effects of alcohol consumption on risk-taking, time preferences and altruism. Our design disentangles the pharmacological effects of alcohol intoxication from those mediated by expectations, as we compare the behavior of three groups of subjects: those who participated in an experiment with no reference to alcohol, those who were exposed to the possibility of consuming alcohol but were given a placebo and those who effectively consumed alcohol. All subjects participated in a series of economic tasks administered in the same sequence across treatments. After controlling for both the willingness to pay for an object and the potential misperception of probabilities as elicited in the experiment, we detect no effect of alcohol in depleting subjects' risk tolerance. However, we find that alcohol intoxication increases impatience and makes subjects less altruistic.

No MeSH data available.


Related in: MedlinePlus