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Informal risk-sharing cooperatives: the effect of learning and other-regarding preferences

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Informal_Risk-Sharing.pdf (941.9Kb)
Date
2020
Notes
Le PDF est le preprint datant de 2017
Link to item file
https://hal-amu.archives-ouvertes.fr/hal-02864652
Dewey
Economie politique
Sujet
risk-sharing; agent-based; cooperative; learning; altruism; other-regarding preferences
Journal issue
Journal of Evolutionary Economics
Volume
30
Number
2
Publication date
2020
Article pages
451–478
Publisher
Springer
DOI
http://dx.doi.org/10.1007/s00191-019-00644-9
URI
https://basepub.dauphine.fr/handle/123456789/21194
Collections
  • LAMSADE : Publications
Metadata
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Author
Barbet, Victorien
Bourlès, Renaud
Rouchier, Juliette
Type
Article accepté pour publication ou publié
Abstract (EN)
We study the dynamics of risk-sharing cooperatives among heterogeneous agents. Based of their knowledge on their risk exposure and the performance of the cooperatives, agents choose whether or not to remain in the risk-sharing agreement. We highlight the key role of other-regarding preference (altruism and inequality aversion) in stabilizing less segregated (and smaller) cooperatives. Limited knowledge and learning of own risk exposure also contributes to reducing segregation, the two effects (of learning and other-regarding preferences) being complementary. Our findings shed light on the mechanisms behind risk-sharing agreements between agents heterogeneous in their risk exposure.

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