Experiencing Risk: Higher-Order Risk Attitudes in Description- and Experience-Based Decisions

Autor/inn/en	Becker, Christoph K.; Ert, Eyal; Trautmann, Stefan T.; van de Kuilen, Gijs
Titel	Experiencing Risk: Higher-Order Risk Attitudes in Description- and Experience-Based Decisions
Quelle	In: Journal of Experimental Psychology: Learning, Memory, and Cognition, 47 (2021) 5, S.727-746 (20 Seiten) PDF als Volltext Verfügbarkeit
Zusatzinformation	ORCID (Becker, Christoph K.) ORCID (Ert, Eyal) ORCID (Trautmann, Stefan T.)
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0278-7393
DOI	10.1037/xlm0000975
Schlagwörter	Risk; Decision Making; Attitudes; Personality Traits; Learning Experience; Role; Task Analysis; College Students; Foreign Countries; Sampling; Safety; Probability; Germany + Suchen Sie Ihr Suchwort? Risiko; Decision-making; Entscheidungsfindung; Attitude; Einstellung; Verhalten; Individual characteristics; Personality characteristic; Persönlichkeitsmerkmal; Lernerfahrung; Rollen; Aufgabenanalyse; Collegestudent; Ausland; Sicherheit; Wahrscheinlichkeitsrechnung; Wahrscheinlichkeitstheorie; Deutschland
Abstract	Risky decisions are often characterized by (a) imprecision about consequences and their likelihoods that can be reduced by information collection, and by (b) unavoidable background risk. This article addresses both aspects by eliciting risk attitude, prudence, and temperance in decisions from description and decisions from experience. The results reveal a novel description-experience gap for prudence and replicate the known gap for risky decisions. While widespread prudence has been observed in decisions from description, we find no evidence of prudent decision making from experience. In decisions from experience people are strongly influenced by the sampled mean, while skewness plays a smaller role than in decisions from description. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01