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Abstract
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.
Dokumententyp: | Zeitschriftenartikel |
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Fakultät: | Volkswirtschaft
Volkswirtschaft > Lehrstühle > Seminar für Experimentelle Wirtschaftsforschung |
Themengebiete: | 300 Sozialwissenschaften > 330 Wirtschaft |
ISSN: | 1526-5501 |
Sprache: | Englisch |
Dokumenten ID: | 18174 |
Datum der Veröffentlichung auf Open Access LMU: | 06. Feb. 2014 15:28 |
Letzte Änderungen: | 04. Nov. 2020 12:59 |
Alle Versionen dieses Dokumentes
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Tempus Fugit: Time Pressure in Risky Decisions. (deposited 19. Apr. 2011 14:35)
- Tempus Fugit: Time pressure in risky decisions. (deposited 06. Feb. 2014 15:28) [momentan angezeigt]