Arbeitspapier

Cognitive load increases risk aversion

We investigate how stable individuals' risk attitudes are with respect to changes in cognitive load. In a laboratory experiment using pairwise lottery choice and a within-subject design, we showthat putting subjects under load via a concurrent working-memory task significantly increases their risk aversion. Subjects made significantly faster choices under load. Regardless of load, they responded faster when choosing the less risky option in safe-risky trials, but not in risky-risky trials. We discuss how these findings relate to both dual-system and unitarysystem theories of decision making.We observe that predictions of both recent dual-system and drift-diffusion models of the decision-making process are confirmed by our data and argue for a convergence of these to-date separate strands of the literature.

Sprache
Englisch

Erschienen in
Series: SFB 649 Discussion Paper ; No. 2016-011

Klassifikation
Wirtschaft
Design of Experiments: Laboratory, Individual
Criteria for Decision-Making under Risk and Uncertainty
Neuroeconomics
Thema
risk aversion
cognitive load
working memory
dual-system approach
multiple-system approach
dual-self model
drift-diffusion model
response times

Ereignis
Geistige Schöpfung
(wer)
Gerhardt, Holger
Biele, Guido P.
Heekeren, Hauke R.
Uhlig, Harald
Ereignis
Veröffentlichung
(wer)
Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk
(wo)
Berlin
(wann)
2016

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Gerhardt, Holger
  • Biele, Guido P.
  • Heekeren, Hauke R.
  • Uhlig, Harald
  • Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk

Entstanden

  • 2016

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