scholarly journals Uncertainty Breeds Decreasing Impatience: The Role of Risk Preferences in Time Discounting

2009 ◽  
Author(s):  
Thomas F. Epper ◽  
Helga Fehr-Duda ◽  
Adrian Bruhin
Keyword(s):  
Risk Preferences ◽  
Time Discounting ◽  
Decreasing Impatience

The Role of General Risk Preferences in Messaging About COVID-19 Vaccine Take-Up

2020 ◽  
Author(s):  
Jennifer S. Trueblood ◽  
Abigail B. Sussman ◽  
Daniel O'Leary
Keyword(s):  
Risk Preferences

scholarly journals The Role of Risk Preferences in Responses to Messaging About COVID-19 Vaccine Take-Up

2021 ◽  
pp. 194855062199962
Author(s):  
Jennifer S. Trueblood ◽  
Abigail B. Sussman ◽  
Daniel O’Leary
Keyword(s):  
Large Scale ◽  
Risk Preferences ◽  
Herd Immunity ◽  
Disease Spread ◽  
Short Term ◽  
Policy Makers ◽  
Health Crisis ◽  
Flu Vaccine ◽  
Nationally Representative

Development of an effective COVID-19 vaccine is widely considered as one of the best paths to ending the current health crisis. While the ability to distribute a vaccine in the short-term remains uncertain, the availability of a vaccine alone will not be sufficient to stop disease spread. Instead, policy makers will need to overcome the additional hurdle of rapid widespread adoption. In a large-scale nationally representative survey ( N = 34,200), the current work identifies monetary risk preferences as a correlate of take-up of an anticipated COVID-19 vaccine. A complementary experiment ( N = 1,003) leverages this insight to create effective messaging encouraging vaccine take-up. Individual differences in risk preferences moderate responses to messaging that provides benchmarks for vaccine efficacy (by comparing it to the flu vaccine), while messaging that describes pro-social benefits of vaccination (specifically herd immunity) speeds vaccine take-up irrespective of risk preferences. Findings suggest that policy makers should consider risk preferences when targeting vaccine-related communications.

scholarly journals Spatial Allocation of Capital: The Role of Risk Preferences

2010 ◽  
Vol 5 (4) ◽  
pp. 389-398 ◽  
Author(s):  
Udo Broll ◽  
Antonio Roldán-Ponce ◽  
Jack E. Wahl
Keyword(s):  
Risk Preferences ◽  
Spatial Allocation

scholarly journals The Role of Memory in Distinguishing Risky Decisions from Experience and Description

2017 ◽  
Vol 70 (10) ◽  
pp. 2048-2059 ◽  
Author(s):  
Christopher R. Madan ◽  
Elliot A. Ludvig ◽  
Marcia L. Spetch
Keyword(s):  
Risk Preferences ◽  
Risk Preference ◽  
Risky Choice ◽  
Risk Averse ◽  
Memory Biases ◽  
Opposite Pattern ◽  
Decisions From Experience ◽  
Risk Seeking ◽  
Subject Design

People's risk preferences differ for choices based on described probabilities versus those based on information learned through experience. For decisions from description, people are typically more risk averse for gains than for losses. In contrast, for decisions from experience, people are sometimes more risk seeking for gains than losses, especially for choices with the possibility of extreme outcomes (big wins or big losses), which are systematically overweighed in memory. Using a within-subject design, this study evaluated whether this memory bias plays a role in the differences in risky choice between description and experience. As in previous studies, people were more risk seeking for losses than for gains in description but showed the opposite pattern in experience. People also more readily remembered the extreme outcomes and judged them as having occurred more frequently. These memory biases correlated with risk preferences in decisions from experience but not in decisions from description. These results suggest that systematic memory biases may be responsible for some of the differences in risk preference across description and experience.

scholarly journals The effect of economic situation on time and risk preferences: Does financial literacy matter?

2018 ◽  
Author(s):  
Matus Adamkovic ◽  
Marcel Martončik ◽  
Ivan Ropovik
Keyword(s):  
Decision Making ◽  
Financial Literacy ◽  
Risk Preferences ◽  
Economic Situation ◽  
Causal Mechanism ◽  
Poor People ◽  
Time Discounting ◽  
Economic Decision ◽  
Economic Decision Making ◽  
Causal Pathway

Socioeconomic status is considered to have an effect on one`s economic decision-making, inducing more myopic preferences in poor people. The relationship, however, might not be that straightforward, as economic decision-making should be also determined by financial literacy. Employing a pre-registered cross-validation procedure, we tested a structural model outlining a causal mechanism of relationships between poverty, its perception, financial literacy, and economic decision-making in terms of time-discounting and risk preferences. Even after respecifying the model in the exploratory dataset, the confirmatory analyses showed mostly weak or inconclusive relationships, suggesting that time-discounting and risk preferences are rather stable traits, almost independent of one`s long-term economic situation, its perception, and financial literacy. The results suggest that financial literacy seems not to be on a causal pathway linking economic situation and economic preferences.

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