Economic behavior under the influence of alcohol: an experiment on time preferences, risk-taking, and altruism
Language: 
English
Short Title: 
Economic behavior under the influence of alcohol
Abstract: 

We report results from an incentivized laboratory experiment undertaken with the purpose of providing controlled evidence on the causal effects of alcohol consumption on risk-taking, time preferences and altruism. Our design disentangles the pharmacological effects of alcohol intoxication from those mediated by expectations, as we compare the behavior of three groups of subjects: those who participated in an experiment with no reference to alcohol, those who were exposed to the possibility of consuming alcohol but were given a placebo and those who effectively consumed alcohol. All subjects participated in a series of economic tasks administered in the same sequence across treatments. After controlling for both the willingness to pay for an object and the potential misperception of probabilities as elicited in the experiment, we detect no effect of alcohol in depleting subjects' risk tolerance. However, we find that alcohol intoxication increases impatience and makes subjects less altruistic.

Author(s): 
Corazzini, Luca
Filippin, Antonio
Vanin, Paolo
Item Type: 
Journal Article
Publication Title: 
PloS One
Journal Abbreviation: 
PLoS ONE
Publication Date: 
2015
Publication Year: 
2015
Pages: 
e0121530
Volume: 
10
Issue: 
4
ISSN: 
1932-6203
DOI: 
10.1371/journal.pone.0121530
Library Catalog: 
PubMed
Extra: 
PMID: 25853520 PMCID: PMC4390359

Turabian/Chicago Citation

Luca Corazzini, Antonio Filippin and Paolo Vanin. 2015. "Economic behavior under the influence of alcohol: an experiment on time preferences, risk-taking, and altruism." PloS One 10: 4: e0121530. 10.1371/journal.pone.0121530.

Wikipedia Citation

<ref> {{Cite journal | doi = 10.1371/journal.pone.0121530 | issn = 1932-6203 | volume = 10 | pages = e0121530 | last = Corazzini | first = Luca | coauthors = Filippin, Antonio, Vanin, Paolo | title = Economic behavior under the influence of alcohol: an experiment on time preferences, risk-taking, and altruism | journal = PloS One | date = 2015 | pmid = | pmc = }} </ref>