On the social dimension of time and risk preferences:An experimental study

We report on an experiment designed to explore the interrelation of otherregardingconcerns with attitudes towards risk and delay when the latterhave a social dimension, i.e., pertain to one's own and another person'spayos. For this sake, we compare evaluations of several prospects, eachof which allocates either certain or risky and either immediate or delayedpayos to the actor and to another participant. We nd that individualsare mainly self-oriented as to social allocation of risk and delay, althoughthey are other-regarding with respect to expected payo levels.