The role of psychological and physiological factors in decision making under risk and in a dilemma

Fooken, Jonas & Schaffner, Markus (2013) The role of psychological and physiological factors in decision making under risk and in a dilemma. In Botticini, Maristella, Abbring, Jaap, & Biais, Bruno (Eds.) Proceedings of EEA-ESEM2013, Gothenburg, Sweden, pp. 1-31.

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We study the difference in the result of two different risk elicitation methods by linking estimates of risk attitudes to gender, age, personality traits, a decision in a dilemma situation, and physiological states measured by heart rate variability (HRV). Our results indicate that differences between the methods can partly be explained by gender, but not by personality traits. Furthermore, HRV is linked to risktaking in the experiment for at least one of the methods, indicating that more stressed individuals display more risk aversion. Finally, we and that risk attitudes are not predictive of the ability to decide in a dilemma, but personality traits are. Surprisingly, there is also no apparent relationship between the physiological state during the dilemma situation and the ability to make a decision.

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ID Code: 62808
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
Copyright Owner: Copyright 2013 [please consult the author]
Deposited On: 10 Dec 2013 22:51
Last Modified: 30 Mar 2014 07:09

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