10.11588/data/10096Krawczyk, MichalMichalKrawczykTrautmann, Stefan T.Stefan T.TrautmannAlfred-Weber-Institute of Economicsvan de Kuilen, GijsGijsvan de KuilenCatastrophic Risk: Social Influences on Insurance Decisions [Dataset]heiDATA2016Social Sciencesrisk attitudecatastrophic riskinsuranceStefan Trautmann, Uversity of Heidelberg, Bergheimer Str. 58 (Room 01.029), 69115 Heidelberg, Germany, Phone: +49 6221 54 2952, Fax: +49 6221 54 3592Alfred-Weber-Institute of EconomicsKrawczyk, MichalMichalKrawczykTrautmann, Stefan T.Stefan T.TrautmannAlfred-Weber-Institute of Economicsvan de Kuilen, GijsGijsvan de KuilenheiDATA: Heidelberg Research Data RepositoryUniversity of Heidelberg20122016-12-192017-04-05behavioral experiment; laboratory10.1007/s11238-016-9571-y513123318566813585application/x-stataapplication/x-statatext/x-stata-syntax; charset=US-ASCII1.1We study behavioral patterns of insurance demand for low-probability large-loss events (catastrophic losses). Individual patterns of belief formation and risk attitude that were suggested in the behavioral decisions literature emerge robustly in the current set of insurance choices. However, social comparison effects are less robust. We do not find any evidence for peer effects (through social loss aversion or imitation) on insurance take-up. In contrast, we find support for the prediction that people underweight others’ relevant information in their own decision making.Poland