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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: 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.

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

Average certainty equivalent (selling price) by lottery.
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pone.0121530.g004: Average certainty equivalent (selling price) by lottery.

Mentions: The selling price tends to be lower than the expected value particularly in the lotteries with high probabilities of winning, as shown in Fig. 4. The pattern around the expected value of the lotteries is consistent with the estimated shape of the probability-weighting function [46].


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)

Average certainty equivalent (selling price) by lottery.
© Copyright Policy
Related In: Results  -  Collection

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

pone.0121530.g004: Average certainty equivalent (selling price) by lottery.
Mentions: The selling price tends to be lower than the expected value particularly in the lotteries with high probabilities of winning, as shown in Fig. 4. The pattern around the expected value of the lotteries is consistent with the estimated shape of the probability-weighting function [46].

Bottom Line: 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.

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