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Related Experiment Video

Updated: May 23, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

Risk and the evolution of human exchange.

Hillard S Kaplan1, Eric Schniter, Vernon L Smith

  • 1Department of Anthropology, University of New Mexico, Albuquerque, NM 87131, USA. hkaplan@unm.edu

Proceedings. Biological Sciences
|April 20, 2012
PubMed
Summary
This summary is machine-generated.

Humans engage in extensive food sharing to mitigate risks from unpredictable resource acquisition. This behavior, driven by the expectation of reciprocity, is crucial for buffering against high-variance foraging outcomes.

Related Experiment Videos

Last Updated: May 23, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

Area of Science:

  • Evolutionary Anthropology
  • Behavioral Economics
  • Social Psychology

Background:

  • Human sociality is characterized by extensive non-kin exchange, unlike other species.
  • This exchange may have evolved to buffer risks associated with specialized diets, particularly from hunting.
  • Existing evidence for reciprocity is challenged by the 'tolerated theft' hypothesis.

Purpose of the Study:

  • To test the risk-reduction hypothesis for reciprocal exchange.
  • To investigate if individuals form reciprocal relationships in response to resource acquisition variance.
  • To determine if this occurs without external enforcement of agreements.

Main Methods:

  • A laboratory experiment using a virtual world simulation.
  • Participants foraged in either high-mean, high-variance (HV) or low-mean, low-variance (LV) resource patches.
  • The design allowed for voluntary resource transfers between individuals.

Main Results:

  • Minimal resource sharing occurred after low-variance (LV) foraging.
  • Significant increases in sharing were observed among high-variance (HV) foragers over time.
  • Individuals demonstrated a predisposition to evaluate exchange gains.

Conclusions:

  • Human propensity for reciprocal trading relationships is strongly supported.
  • Individuals respond to unsynchronized variance in resource availability through endogenous exchange.
  • Exchange serves as a key strategy for managing foraging risks in humans.