On preventive behavior – An experimental invesigation on self-protection

Le Lec, Fabrice; Lenglin, Vincent

Document type :

Autre communication scientifique (congrès sans actes - poster - séminaire...): Communication dans un congrès avec actes

Title :

On preventive behavior – An experimental invesigation on self-protection

Author(s) :

Le Lec, Fabrice [Auteur]
Université de Lille
Lille économie management - UMR 9221 [LEM]
Lenglin, Vincent [Auteur]
Laboratoire d'Anthropologie Expérimentale [ANTHROPO LAB]
Experience ; Technology & Human Interactions ; Care & Society : [ETHICS EA 7446]

Conference title :

13th International Conference of the French Association of Experimental Economics (ASFEE)

City :

Montpellier

Country :

France

Start date of the conference :

2023-05-25

HAL domain(s) :

Sciences de l'Homme et Société/Economies et finances

English abstract : [en]

Preventive behavior in a sense of self-protection is defined as theaction taken by an agent, at a cost, to mitigate the probability of anadverse consequence. Yet, even though these behaviors arewidespread in economic life, ...
Show more >Preventive behavior in a sense of self-protection is defined as theaction taken by an agent, at a cost, to mitigate the probability of anadverse consequence. Yet, even though these behaviors arewidespread in economic life, it has never been studied in acontrolled environment. We propose to do so by first clarifying thetheoretical predictions in various theoretical frameworks (expectedutility, rank-dependent utility, prospect theory), and second to testexperimentally these predictions. More specifically, we study thecost that makes the decision-maker indifferent with a fixed changeof the probability of the adverse consequence. At thetheoretical level, we show that under expected utility, the intensityof prevention action decreases with the probability of the adverseconsequence, while for rank-dependent expected utility andprospect theory, the main determinant of prevention is the derivativeof the probability weighting function, leading to a U shape form ofprevention. Experimentally, our results suggest that prevention ismostly driven by the shape of the probability weighting function, aresult that seemed to have been overlooked in the literature, thathas mostly focused on the curvature of the utility functionShow less >

Language :

Anglais

Peer reviewed article :

Oui

Audience :

Internationale

Popular science :

Non

Collections :

Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL

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