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Please use this identifier to cite or link to this item: http://hdl.handle.net/10481/31577

Title: The separate effects of self-estimated and actual alcohol intoxication on risk-taking: a field experiment
Authors: Cortés Aguilar, Alexandra
Espín, Antonio M.
Exadaktylos, Filippos
Oyediran, Olusegun A.
Palacio García, Luis Alejandro
Proestakis, Antonios
Issue Date: 2012
Abstract: Many risky actions are carried out under the influence of alcohol. However, the effect of alcoholic intoxication over the willingness to take risks is complex and still remains unclear. We conduct an economic field experiment in a natural, drinking and risk-taking environment to analyze how both actual and self-estimated blood alcohol concentration (BAC) levels influence subjects’ choices over monetary lotteries. Our results reveal a negative impact of both actual and self-estimated BAC levels on risk-taking. However, for male and young subjects, we find a positive relationship between BAC underestimation (a pattern of estimation error which mainly occurs at high BAC levels) and the willingness to choose riskier lotteries. Our findings suggest that a risk compensation mechanism is activated only when individuals’ own intoxication level is consciously self-perceived to be high. We conclude therefore that human propensity to engage in risky activities under the influence of alcohol is not due to an enhanced preference for risky choices. In addition to the suggestion in the existing literature that such propensity is due to a weakened ability to perceive risks, our results indicate that an impaired self-perception of own intoxication level may also be an important factor.
Sponsorship: Financial
 support 
from 
the 
Spanish 
Ministry
 of 
Science
 and Innovation (SEJ2010‐17049/ECON),
 the
 Regional
 Programs SEJ‐02547,
 SEJ‐340
 and
 SEJ‐023
 of
 the
 Regional
 Government 
of 
Andalusia
.
Publisher: Universidad de Granada. Departamento de Teoría e Historia Económica
Description: First
 Version
(“Alcohol
 Consumption 
and 
Risk 
Attitude”):
 October 
2008.
Series/Report no.: The Papers;10/24
Keywords: Risk-taking
Field experiment
Alcohol intoxication
Self estimation
URI: http://hdl.handle.net/10481/31577
Rights : Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License
Citation: Cortés Aguilar, A.; et al. The separate effects of self-estimated and actual alcohol intoxication on risk-taking: a field experiment. Universidad de Granada. Departamento de Teoría e Historia Económica (2012). (The Papers; 10/24). [http://hdl.handle.net/10481/31577]
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