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
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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
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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