Several years ago, Cohen, Dearnaley, and Hansel [1] demonstrated that under the influence of alcohol drivers became more risk prone, although their risk perception remained unchanged. Research shows that ambiguity aversion is to some extent positively correlated with risk aversion, though not very highly [2]. The question addressed by the present research is whether alcohol reduces ambiguity aversion. Our research was conducted in a natural setting (a restaurant bar), where customers with differing levels of alcohol intoxication were offered a choice (...) between a risky and an ambiguous lottery. We found that alcohol reduced ambiguity aversion and that the effect occurred in men but not women. We interpret these findings in terms of the risk-as-value hypothesis, according to which, people in Western culture tend to value risk, and suggest that alcohol consumption triggers adherence to socially and culturally valued patterns of conduct different for men and women. (shrink)

Data from surveys indicate that people, in general, do not trust others. On the other hand, in one-shot trust games, where the player decides whether to send money to an anonymous partner, the actual rate of trust is relatively high. In two experiments, we showed that although reciprocity expectations and profit maximization matter, they are not decisive for trusting behaviour. Crucial factors that motivate behaviour in trust games seem to be altruism and a type of moral obligation related to a (...) social norm encouraging cooperative behaviour. Finally, we were able to divide participants into specific profiles based on amount of money transferred to the partner, altruistic motivation, and belief in partners’ trustworthiness. This shows that the trust game is differently perceived and interpreted by different participants. (shrink)