Effects of Decision Thinking Model and Risk Preference on Risk Decision-Making
نویسندگان
چکیده
منابع مشابه
Role Taking Under Financial Risk Decision Making
This paper explores people’s behavior when they are facing financial risks. Through the setting of an economics experiment, people’s willingness to bear financial risks and their tendency to impose risks on others are investigated. The experiment result shows that most people are risk-neutral or risk-averse when making decision under financial environment, and their tendency to impose risks on ...
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Prospect theory suggests that people are risk-averse when facing gains, but risk-prone when facing losses, a pattern known as the framing effect. Although framing effects have been widely demonstrated, few studies have investigated framing effects under conditions of need. Risk-sensitivity theory predicts that decision makers should prefer high-risk options in situations of high need, when lowe...
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We explore situations in which a decision-maker bears responsibility for somebody else's outcomes as well as for her own. We study such choices for gains and losses, and for different gain probabilities. For 50-50 lotteries over gains we find that being responsible for somebody else's payoffs increases risk aversion. In the loss domain, on the other hand, we find significantly different behavio...
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Risk is perceived and acted on in 2 fundamental ways. Risk as feelings refers to individuals' fast, instinctive, and intuitive reactions to danger. Risk as analysis brings logic, reason, and scientific deliberation to bear on risk management. Reliance on risk as feelings is described with "the affect heuristic." The authors trace the development of this heuristic across a variety of research pa...
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ژورنال
عنوان ژورنال: Advances in Psychology
سال: 2016
ISSN: 2160-7273,2160-7281
DOI: 10.12677/ap.2016.69120