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Title: Guilty group decisions! Risk preferences under time pressure
Authors: Cheo, Rui Ming
Neo, Van Myran Wei Ren
Teo, Yu Liang
Keywords: DRNTU::Social sciences::Economic theory
Issue Date: 2017
Abstract: Literature findings on individual risk preference in social settings appear mixed. Following the notion of higher individual risk aversion in group decisions from ex ante guilt and blame, investigations were carried out to determine the mechanism behind this heighten risk aversion. The combined impacts of time pressure were further included to extend findings on ex ante guilt and blame. A between-subject experimental design based on Multiple Price Listing was used to elicit for risk preferences with risk estimation via CRRA utility models. In the absence of communication, both guilt and blame results in heightened risk aversion and this aversion is primarily driven by guilt. Under time-pressured situations, it was also found to enhance the effects of guilt and blame aversion in the form of raising the saliency thereby amplifying the effects than in the manner of masking them.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:HSS Student Reports (FYP/IA/PA/PI)

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