Tuesday 13
D7 - Risk, Uncertainty, Insurance
Chair: Renaud Bourlès
› 15:15 - 15:40 (25min)
› Room 102 - J-M. Damase
Informal risk-sharing cooperatives: the effect of learning and other-regarding preferences
Victorien Barbet  1, *@  , Renaud Bourlès  2@  , Juliette Rouchier  3@  
1 : Aix-Marseille Univ. (Aix-Marseille School of Economics), CNRS & EHESS (Aix Marseille University)
Aix-Marseille Université - AMU
2 : Ecole Centrale Marseille
Aix-Marseille School of Economics
3 : Laboratoire d'analyse et modélisation de systèmes pour l'aide à la décision  (LAMSADE)  -  Website
CNRS : UMR7024, Université Paris IX - Paris Dauphine
Place de Lattre de Tassigny 75775 PARIS CEDEX 16 -  France
* : Corresponding author

We study the dynamics of risk-sharing cooperatives among heterogeneous agents. Based on their knowledge on their risk exposure and the performances of the cooperatives, agents choose whether or not to remain in the risk-sharing agreement. We highlight the key role of other-regarding preferences, altruism or inequality aversion, in stabilizing less segregated (and smaller) cooperatives. Limited knowledge and learning of own risk exposure also contribute in reducing segregation. This could help to explain the empirical evidence of risk-sharing agreements between agents heterogeneous in their risk exposure.

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