Risk adaptation and emotion differentiation: An experimental study of dynamic decision-making

被引:9
作者
Li, Yan [1 ]
Ashkanasy, Neal M. [2 ]
机构
[1] Beijing Inst Technol, Sch Management & Econ, Beijing, Peoples R China
[2] Univ Queensland, UQ Business Sch, Brisbane, Qld, Australia
关键词
Risk adaptation; Decision-making; Risk taking; Emotion differentiation; Australia; PROSPECT-THEORY; RETURN PARADOX; ABSORPTIVE-CAPACITY; EMERGING ECONOMIES; CAPABILITIES; PERFORMANCE; INNOVATION; JUDGMENT; MODEL; PERSPECTIVES;
D O I
10.1007/s10490-017-9559-3
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
We report a study of risky decision-making in a dynamic risk environment, looking in particular at idea that variations in risk preferences over time are subject to both risk adaptation and ability to differentiate negative emotions. In a between-group experiment, 175 participants completed 20 binary project investment decisions under three objective probabilities of success conditions (20%, 50%, and 80%). The results showed that participants' risk-taking increased at Time 2 only when risky projects have a medium-to-high chance of success (50% or 80%) at Time 1. We also found that participants who could differentiate their negative emotions under the condition with high favorability of risk-taking (80%), achieved higher returns, suggesting that negative emotion differentiation provides emotional information to capture the pattern of decision trials in the environment more favorable to risk-taking success. We conclude with a discussion of the theoretical and practical contributions of our findings for individuals and firms.
引用
收藏
页码:219 / 243
页数:25
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