Please
do not quote without authors' permission.
TTU
Economics Discussion Paper 2000-05
Mars and Venus:
Experiments on Joint Risk
Mitigation Decision-Making
Jamie
Brown Kruse
and
Mark Thompson
March
2000
Abstract
This
study uses laboratory decisions with salient rewards and hypothetical questions
to elicit values of a risk mitigation measure (RMM) in a low probability
environment. We focus on three
decision-making entities: male individuals, female individuals, and male/female
pairs or couples. From the
hypothetical questions we elicit willingness to pay for the RMM. We find no significant difference in the experimental price
elicited from the three groups. Likewise
hypothetical willingness to pay is not statistically different.
However, the decision processes used differ by treatment group with more
couples relying on a 1-shot decision process than singles.