Data for: Keep up with the winners: Experimental evidence on risk taking, asset integration, and peer effects

Abstract of associated article: The paper reports the result of an experimental game on asset integration and risk taking. We find some evidence that winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the experiment affects risk taking. Controlling for past winnings, participants receiving a low endowment in a round engage in more risk taking. We test a ‘keeping-up-with-the-Joneses’ hypothesis and find that subjects seek to keep up with winners, though not necessarily with average earnings. Overall, the evidence suggests that risk taking tracks a reference point affected by social comparisons.关联论文摘要：本论文报告了一项关于资产整合与风险承担的实验博弈研究成果。研究发现，前期轮次的获胜收益会对后续轮次的风险承担行为产生显著影响，但未观测到实验外的现实财富会对风险承担产生作用。在控制过往获胜收益这一变量后，单轮获得较低禀赋的参与者会表现出更高程度的风险承担行为。我们对“与琼斯家看齐”（keeping-up-with-the-Joneses）假说进行了实证检验，结果显示实验参与者会试图追赶获胜者，但未必会追随平均收益水平。综合来看，现有证据表明，风险承担行为会随受社会比较影响的参考点发生相应调整。