期刊名称：Discussion Paper Series / Department of Economics, Monash University
出版年度：2006
卷号：1
出版社：Monash University
摘要：We study the relationship between group size and the extent of risk sharing in an
insurance game played over a number of periods with random idiosyncratic and
aggregate shocks to income in each period. Risk sharing is attained via agents that
receive a high endowment in one period making unilateral transfers to agents that receive
a low endowment in that period. The complete risk sharing allocation is for all agents to
place their endowments in a common pool, which is then shared equally among members
of the group in every period. Theoretically, the larger the group size, the smaller the per
capita dispersion in consumption and greater is the potential value of insurance. Field
evidence however suggests that smaller groups do better than larger groups as far as risk
sharing is concerned. Results from our experiments show that the extent of mutual
insurance is significantly higher in smaller groups, though contributions to the pool are
never close to what complete risk sharing requires.
关键词：Reciprocity, Risk Sharing, Group Size, Experiments
