Article1974

Realism and Risk Taking

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Decision-Making and Behavioral Economics Experimental Behavioral Economics Studies Leadership, Behavior, and Decision-Making Studies

Abstract

Ss made decisions on a questionnaire for real payoffs and for hypothetical payoffs. They tended to be less risky when their decisions were made for real consequences than when their decisions were hypothetical, suggesting that one should be cautious in predicting real risk-taking behavior from measures of hypothetical risk.

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References

1965Risk Taking: A Study in Cognition and Personality 1971Risk taking by individuals and groups: An assessment of research employing choice dilemmas.1969Differential effects of real versus hypothetical payoffs on choices among gambles.

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1991Risk Taking: Theoretical, Empirical, and Educational Considerations 2016Global-local processing impacts academic risk taking 1982Effects of Type of Payoff and Instructions on Individual Risk-Taking Behavior 1999MANAGERIAL RISK-TAKING: AN EMPIRICAL STUDY 2022Second Chances in Learning: Does a Resit Prospect Lower Study-Time Investments on a First Test?2015Simulating Personal Wealth in the Laboratory 2012Human Risky Choice Across Four Probability Distributions 2022The Psychology of Resit Exams

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