This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral determinants in such contexts. Our model and the data...

This paper analyzes in a within-subjects experiment time preferences when people decide for themselves and on behalf of others. The data show that subjects become more impatient when making decisions, which affect the payoff of others. The change can be explained by altruistic subjects who...

We conduct multi-person one-shot ultimatum games that reflect important aspects of collective bargaining. In all treatments a proposer has to divide a pie among herself and two groups of three recipients each. She cannot discriminate within, but across groups. A committee with representatives...