The impact of (social) anchors on Prospect Theory's value function
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
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.
Originalsprache | Englisch |
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Aufsatznummer | 101916 |
Zeitschrift | Quarterly Review of Economics and Finance |
Jahrgang | 98 |
Anzahl der Seiten | 11 |
ISSN | 1062-9769 |
DOIs | |
Publikationsstatus | Erschienen - 12.2024 |
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