By means of a laboratory experiment we investigate the role of risk preferences for prosocial behavior. Modifying the way the decision-maker or the recipient are exposed to risk, our design allows to identify how risk preferences impact giving-decisions. By measuring the decision-makers’ risk preferences regarding both their own as well as the recipients’ payoff, we generate new insights into how social preference theories may extend to risky situations

Although inequality in the US has increased since the 1960s, several studies show that Americans underestimate it. Reasons include overreliance on one’s local perspective and ideologically-motivated cognition. We propose a novel mechanism to account for the misperceptions of income inequality. We hypothesize that compared to those who feel less autonomy, the people who believe they are autonomous and have control over their lives also believe that (1) income inequality is lower and (2) income inequality is more acceptable. Using a representative sample of 3,427 Americans, we find evidence to support these hypotheses.

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