Risk taking and sharing when risk exposure is interdependent

•risk exposure is interdependent when risks taken by one affect risks faced by others.•interdependent risk exposure affects Sri Lankan farmers’ willingness to risk share.•the farmers reward socially responsible risk taking by their co-villagers.•under some circumstances, the farmers punish socially irresponsible risk taking.•socially responsible risk taking and ex post sharing are not behavioral substitutes.•those who are socially responsible in their risk taking are also more likely to share.