Keep your budget together! Investigating determinants on risky decision-making about losses.

ABSTRACT: The present study investigates the influence of framing, different amounts to lose, and probabilities of a risky and sure choice option, time limits, and need on risky decision-making. For a given block of trials, participants were equipped with a personal budget (number of points). On each trial within a block, a specific initial amount is possibly taken from the budget by the outcome of a gamble or the choice of a sure loss option. The goal was to avoid losing points from the budget for not falling below a predefined need threshold. Three different levels of induced need were included. Employing a psychophysical experimental approach, we furthermore tested a sequential component of human risk behavior towards a need threshold inspired by research on animal foraging behavior. Risk-sensiti

SUBMITTER: Wyszynski M 

PROVIDER: S-EPMC8936482 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature