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Tempus Fugit: Time ...
Tempus Fugit: Time Pressure in Risky Decisions
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- Kocher, Martin G. (författare)
- Gothenburg University,Göteborgs universitet,Institutionen för nationalekonomi med statistik,Department of Economics
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Pahlke, J. (författare)
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Trautmann, S. T. (författare)
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(creator_code:org_t)
- Institute for Operations Research and the Management Sciences (INFORMS), 2013
- 2013
- Engelska.
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Ingår i: Management Science. - : Institute for Operations Research and the Management Sciences (INFORMS). - 0025-1909 .- 1526-5501. ; 59:10, s. 2380-2391
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Abstract
Ämnesord
Stäng
- We study the effects of time pressure on risky decisions for pure gain prospects, pure loss prospects, and mixed prospects involving both gains and losses. In two experiments we find that time pressure has no effect on risk attitudes for gains, but increases risk aversion for losses. For mixed prospects, subjects become simultaneously more loss averse and more gain seeking under time pressure, depending on the framing of the prospects. The results suggest the importance of aspiration levels, and thus the overall probability to break even, under time pressure. We discuss the implications of our findings for decision-making situations that involve time pressure.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business (hsv//eng)
Nyckelord
- time pressure
- risk aversion
- loss aversion
- gain seeking
- aspiration levels
- GENDER-DIFFERENCES
- PROSPECT-THEORY
- EXPECTED UTILITY
- ASPIRATION LEVEL
- CHOICE
- AVERSION
- INCENTIVES
- MONEY
- PROBABILITY
- ECONOMICS
Publikations- och innehållstyp
- ref (ämneskategori)
- art (ämneskategori)
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