Risk perception and risky choice: Situational, informational and dispositional effects

Risk perception and risky choice: Situational, informational and dispositional effects We investigated how situational (gain–loss), informational (opportunity–threat framing) and dispositional (achievement motive and avoidance motive) variables affected opportunity–threat perception and risky choice in managerial decision‐making contexts. In Study 1, the risk preference of the participants showed a reflection effect due to situational differences (gain or loss) and a partial framing effect caused by presenting the same choice information in terms of either opportunities or threats. However, both effects were in the opposite direction of predictions from prospect theory. Gains and positive framing enhanced risk‐seeking preference whereas losses and negative framing augmented risk‐averse preference. Risk‐seeking choices were mediated by opportunity perception whereas risk‐averse choices were mediated by threat perception. In Study 2, the participants high in achievement motive perceived greater opportunities in a negative situation, and the participants high in avoidance motive perceived greater threats in a positive situation, suggesting that ambition (achievement motive) operates more significantly in the face of adversities whereas cautiousness (avoidance motive) functions more significantly in prosperity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asian Journal of Social Psychology Wiley

Risk perception and risky choice: Situational, informational and dispositional effects

Loading next page...
 
/lp/wiley/risk-perception-and-risky-choice-situational-informational-and-QCJRcdD4nA
Publisher
Wiley
Copyright
Copyright © 2003 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1367-2223
eISSN
1467-839X
DOI
10.1111/1467-839X.t01-1-00015
Publisher site
See Article on Publisher Site

Abstract

We investigated how situational (gain–loss), informational (opportunity–threat framing) and dispositional (achievement motive and avoidance motive) variables affected opportunity–threat perception and risky choice in managerial decision‐making contexts. In Study 1, the risk preference of the participants showed a reflection effect due to situational differences (gain or loss) and a partial framing effect caused by presenting the same choice information in terms of either opportunities or threats. However, both effects were in the opposite direction of predictions from prospect theory. Gains and positive framing enhanced risk‐seeking preference whereas losses and negative framing augmented risk‐averse preference. Risk‐seeking choices were mediated by opportunity perception whereas risk‐averse choices were mediated by threat perception. In Study 2, the participants high in achievement motive perceived greater opportunities in a negative situation, and the participants high in avoidance motive perceived greater threats in a positive situation, suggesting that ambition (achievement motive) operates more significantly in the face of adversities whereas cautiousness (avoidance motive) functions more significantly in prosperity.

Journal

Asian Journal of Social PsychologyWiley

Published: Aug 1, 2003

There are no references for this article.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off