The impact of (social) anchors on Prospect Theory's value function

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

Authors

Anchoring impacts risk-taking decisions. This paper provides experimental evidence (n = 744) that (social) anchors shift the Prospect Theory's value function (Kahneman and Tversky, 1979; Tversky and Kahneman, 1992). We observe that extreme (social) anchors lead to shifts in the value function, indicating a change in risk-taking. Anchors that are in line with risk-averse (risk-seeking) behavior lead, relative to the baseline, to more risk-averse (risk-seeking) decisions. Our findings are similar for social and non-social environments.

OriginalspracheEnglisch
Aufsatznummer101916
ZeitschriftQuarterly Review of Economics and Finance
Jahrgang98
Anzahl der Seiten11
ISSN1062-9769
DOIs
PublikationsstatusErschienen - 01.12.2024

Bibliographische Notiz

Publisher Copyright:
© 2024 The Author(s)

DOI

Zuletzt angesehen

Publikationen

  1. Zootiere in Zahlen
  2. Germany Going "Midstream"
  3. On the Western Narrative of Empowerment Through ICT
  4. Gone and forgotten
  5. Blueprint Romantik
  6. Reaching for the (Product) Stars
  7. Hydration and Dehydration of CaO/ Ca(OH)2
  8. Akademisches Schreiben
  9. Schritte auf dem Kies
  10. Akademisches Schreiben
  11. A Glue from Snail Slime?!
  12. Citizen Science-Based Monitoring of Cavity-Nesting Wild Bees and Wasps – Benefits for Volunteers, Insects, and Ecological Science
  13. Participation in environmental governance
  14. Qualitätsmanagement und Qualitätsmanagementsysteme
  15. Does elevated atmospheric carbon dioxide affect internal nitrogen allocation in the temperate trees Alnus glutinosa and Pinus sylvestris?
  16. TraceSim
  17. Zwischen Selbstvermarktung und Subversion. Das Web 2.0 und seine Subjekte
  18. ‚Ich sehe was, was Du nicht siehst‘
  19. Strategische Organisation:
  20. Mobility, Media, and the Experiences of Airbnb’s Aesthetic Regime
  21. Strukturwandel oder Kommunikationsrevolution?
  22. Collaboration Benefits in Port Hinterland Transportation
  23. Stoffstromnetzbasierte Planung und Optimierung komplexer Produktionssysteme
  24. Trading Zones of Climate Change
  25. Im Gespräch bleiben. Notizen zur Kunstkritik
  26. Research in-between
  27. Eigenstrain method in simulations of laser peen forming of curved surfaces
  28. Consensus Vs. Dissensus
  29. The impact of age and experience on expatriate outcomes
  30. Gender and Diversity aspects in Engineering Education and their impact on the design of engineering curricula
  31. 3. Methoden-Muster: Austausch, Koordination, Abstimmung
  32. Zootechnologies
  33. Das endlos bewegte Buch
  34. 2. Methoden-Muster: Gestaltung von Beziehungen, Kontaktpflege, Klima
  35. Aí é orixá!
  36. Einstein und die Religion
  37. Writing Life, Writing Back, and Writing Through