Gain-loss domain and social value orientation as determinants of risk allocation decisions

Abstract

People often make less risky decisions for themselves than others. We examined how people allocated risks (i.e., determining the ratio of uncertain outcomes to certain outcomes) between themselves and others. We also investigated gain (vs. loss) domain and social value orientation as predictors of risk allocations. The results of three experiments demonstrated that participants were more likely to share their risks equally between themselves and others than distribute risk unequally. In the gain (vs. loss) domain, participants allocated fewer risks to themselves and more risks to the other person for unequal risk allocations. Compared to proselfs, prosocials were more likely to allocate risks equally. We also found stronger domain effects on unequal risk allocations for proselfs than for prosocials. Therefore, our findings clarify the effects of risk distribution, domain, and social value orientation on interpersonal allocation decisions and highlight equal risk distribution between oneself and others.

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