Discrepancies in Risk Preference in Other-regarding Decision Making

2017 ◽  
Vol 45 (2) ◽  
pp. 235-241 ◽  
Author(s):  
Qingzhou Sun ◽  
Peng Wang ◽  
Hongyu Liu ◽  
Yongfang Liu
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Risk Preference ◽  
Construal Level Theory ◽  
Construal Level ◽  
Risk Seeking ◽  
Other Regarding ◽  
University Undergraduates ◽  
Loss Experiment

We explored the discrepancies in risk preference in other-regarding decision making from the perspective of construal level theory. We recruited 166 university undergraduates to participant in a 2 (other: close or distant) × 2 (role of the decision maker: deciding for others vs. predicting the decisions of others) × 2 (domain: gain or loss) experiment. Results showed that participants were more risk seeking in distant other-regarding decisions than in close other-regarding decisions, when predicting the decisions of others than when deciding for others, and in the loss domain than in the gain domain. Such effects were stronger in the gain domain than in the loss domain. These findings suggest that people's risk preferences in other-regarding decision making are changeable, depending on whom they decide for and which role they play.

Regulatory focus and construal level theory on low-income consumer indebtedness: Evidence from an emerging market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Patrícia de Oliveira Campos ◽  
Marconi Freitas da Costa
Keyword(s):  
Decision Making ◽  
Low Income ◽  
Regulatory Focus ◽  
Task Complexity ◽  
Emerging Market ◽  
Psychological Distance ◽  
Construal Level Theory ◽  
Construal Level ◽  
Content Type ◽  
Low Income Consumers

PurposeThis study aims to further analyse the decision-making process of low-income consumer from an emerging market by verifying the influence of regulatory focus and construal level theory on indebtedness.Design/methodology/approachAn experimental study was carried out with a design 2 (regulatory focus: promotion vs prevention) × 2 (psychological distance: high vs low) between subjects, with 140 low-income consumers.FindingsOur study points out that the propensity towards indebtedness of low-income consumer is higher in a distal psychological distance. We found that promotion and prevention groups have the same propensity to indebtedness. Moreover, we highlight that low-income consumers are prone to propensity to indebtedness due to taking decisions focused on the present with an abstract mindset.Social implicationsFinancial awareness advertisements should focus on providing more concrete strategies in order to reduce decision-making complexity and provide ways to reduce competing situations that could deplete self-regulation resources. Also, public policy should organize educational programs to increase the low-income consumer's ability to deal with personal finances and reduce this task complexity. Finally, educational financial programs should also incorporate psychology professionals to teach mindfulness techniques applied to financial planning.Originality/valueThis study is the first to consider regulatory focus and construal level to explain low-income indebtedness. This paper provides a deeper analysis of the low-income consumers' decision process. Also, it supports and guides future academic and decision-making efforts.

scholarly journals Cancer Patients: Their Desire for Information and Participation in Treatment Decisions

1989 ◽  
Vol 82 (5) ◽  
pp. 260-263 ◽  
Author(s):  
H J Sutherland ◽  
H A Llewellyn-Thomas ◽  
G A Lockwood ◽  
D L Tritchler ◽  
J E Till
Keyword(s):  
Decision Making ◽  
Cancer Patients ◽  
Decision Maker ◽  
Treatment Decisions ◽  
Autonomous Decision ◽  
Disclosure Of Information ◽  
Participation In Decision Making ◽  
Psychological Autonomy ◽  
The Relationship

The relationship between cancer patients’ desire for information and their preference for participation in decision making has been examined. Approximately 77% of the 52 patients reported that they had participated in decision making to the extent that they wished, while most of the remaining 23% would have preferred an opportunity to have greater input. Although many of the patients actively sought information, a majority preferred the physician to assume the role of the primary decision maker. Ethically, the disclosure of information has been assumed to be necessary for autonomous decision making. Nevertheless, the results of this study indicate that patients may actively seek information to satisfy an as yet unidentified aspect of psychological autonomy that does not necessarily include participation in decision making.

The influence of leader empowerment behaviour on employee creativity

2020 ◽  
Vol 58 (12) ◽  
pp. 2681-2703 ◽  
Author(s):  
Xuemei Liu ◽  
Zhiwei Zhu ◽  
Zheng Liu ◽  
Chunyan Fu
Keyword(s):  
Cognitive Flexibility ◽  
Construal Level Theory ◽  
Moderating Effect ◽  
Theory And Practice ◽  
Construal Level ◽  
Employee Creativity ◽  
Content Type ◽  
Mediating Role ◽  
The Relationship

PurposeThis study, based on construal level theory, aims to examine the influential mechanism of leader empowerment behaviour on employee creativity. Specifically, it examines the mediating role of cognitive flexibility between leader empowerment behaviour and employee creativity, along with the moderating effect of consideration of future consequences (CFC) on this linkage.Design/methodology/approachA two time-point survey study (n = 214) was conducted to collect information from leaders and employees in terms of mutual evaluation in several Chinese industries. To effectively avoid common source bias, this survey was conducted through pairing leaders and employees. During the survey, the supervisors and subordinates were double-blinded. Correlation analysis and hierarchical regression analysis were used to test the research hypotheses.FindingsFirstly, leader empowerment behaviour can significantly predict employee creativity. Second, cognitive flexibility plays a partial mediating role in the linkage between leader empowerment behaviour and employee creativity. Thirdly, CFC moderates the relationship between leadership empowerment behaviour and cognitive flexibility. The mediating role of cognitive flexibility underlies the overall moderating effect of CFC on the relationship between leader empowerment behaviour and employee creativity.Research limitations/implicationsWe used construal level theory to explain the influence of the mechanism of leader empowerment behaviour on employee creativity. In this manner, this study bridges the gap between theory and practice, as well as enriching the research on leader empowerment behaviour and employee creativity, especially in the Chinese context. Moreover, our study has several practical managerial implications, based on the importance of employee creativity. It inspires the implementation of leader empowerment behaviour, cultivation of employee creativity and introduction of several procedures.Originality/valueThis paper discusses the influential mechanism of leader empowerment behaviour on employee creativity from a new perspective and explains the process of encouraging employee creativity through information-processing methods. It mainly highlights the application of construal level theory to discuss employee creativity and develops a new research frame for employee creativity. Leaders can raise employee creativity through leader empowerment behaviour.

The Evolving Role of Superintendents in School-Based Management

1993 ◽  
Vol 3 (4) ◽  
pp. 380-390 ◽  
Author(s):  
Jackie Kowalski ◽  
Arnold Oates
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Educational System ◽  
Leadership Characteristics ◽  
Collaborative Decision Making ◽  
School Based ◽  
School Based Management ◽  
Collaborative Decision ◽  
New Look

As school-based management and collaborative decision making are implemented in the educational system, the role of the superintendent will take on a new look. The superintendent will become a leader of leaders and a collaborative decision maker. The author explores the necessary leadership characteristics and skills of the superintendent in this new role.

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.

What parents want from doctors in end-of-life decision-making for children

2013 ◽  
Vol 99 (3) ◽  
pp. 216-220 ◽  
Author(s):  
J Sullivan ◽  
P Monagle ◽  
L Gillam
Keyword(s):  
Decision Making ◽  
End Of Life ◽  
Decision Maker ◽  
Semistructured Interview ◽  
End Of Life Decisions ◽  
Parental Autonomy ◽  
End Of Life Decision ◽  
Life Decision

ObjectiveEnd-of-life decision-making is difficult for everyone involved, as many studies have shown. Within this complexity, there has been little information on how parents see the role of doctors in end-of-life decision-making for children. This study aimed to examine parents’ views and experiences of end-of-life decision-making.DesignA qualitative method with a semistructured interview design was used.SettingParent participants were living in the community.ParticipantsTwenty-five bereaved parents.Main outcomesParents reported varying roles taken by doctors: being the provider of information without opinion; giving information and advice as to the decision that should be taken; and seemingly being the decision maker for the child. The majority of parents found their child's doctor enabled them to be the ultimate decision maker for their child, which was what they very clearly wanted to be, and consequently enabled them to exercise their parental autonomy. Parents found it problematic when doctors took over decision-making. A less frequently reported, yet significant role for doctors was to affirm decisions after they had been made by parents. Other important aspects of the doctor's role were to provide follow-up support and referral.ConclusionsUnderstanding the role that doctors take in end-of-life decisions, and the subsequent impact of that role from the perspective of parents can form the basis of better informed clinical practice.

scholarly journals Is Creative Description Always Effective in Purchase Intention? The Construal Level Theory as a Moderating Effect

2021 ◽  
Vol 12 ◽  
Author(s):  
Fei-Si Yao ◽  
Jing-Bo Shao ◽  
He Zhang
Keyword(s):  
Purchase Intention ◽  
Online Shopping ◽  
Construal Level Theory ◽  
Construal Level ◽  
Relevant Research ◽  
Rhetorical Devices ◽  
High Level ◽  
Moderating Role ◽  
Marketing Messages

Recent years has witnessed a rapid growth in online shopping. This paper draws from the construal level theory to examine the divergent effects of the creative text descriptions of products on consumers' purchase intention in an online context. It also investigates consumers' construal level and the moderating role of construal level in this relationship. An assumption has been made that the creative description embraces more rhetorical devices with analogies. In doing so, such texts are in need of consumers who are having a more abstract, top-down, flexible mindset, which makes it more persuasive to some consumers with high-level construal. Three experiments add evidence to this study. These results suggest that the creative text descriptions are generally more persuasive than the non-creative ones in an online context, and that the persuasiveness of the creative descriptions can be accentuated (vs. attenuated) especially for high- (vs. low-) level construal individuals. The findings hold various theoretical implications for the creative marketing messages and construal level theory. First, in the current research, broadening, and integrating relevant research were possible by exploring the creative language in an online context. Also, it demonstrates that construal level—that is, consumers' internal thoughts, rather than external factors—influences their preference for a creative description style, thus helping extend the applications of the construal level theory to the field of creative marketing communications and integrate the research discoveries in metaphor communication.

scholarly journals Individuals with ventromedial frontal damage have more unstable but still fundamentally transitive preferences

2018 ◽  
Author(s):  
Linda Q. Yu ◽  
Jason Dana ◽  
Joseph W. Kable
Keyword(s):  
Decision Making ◽  
Decision Maker ◽  
Decision Process ◽  
Healthy Controls ◽  
Rational Decision ◽  
Rational Choices ◽  
The Brain ◽  
Intransitive Preferences ◽  
Rational Decisions

AbstractThough the ventromedial frontal lobes (VMF) are clearly important for decision-making, the precise causal role of the VMF in the decision process has still not yet fully been established. Previous studies have suggested that individuals with VMF damage violate a hallmark axiom of rational decisions by having intransitive preferences (i.e., preferring A to B, B to C, but C to A), as these individuals are more likely to make cyclical choices (i.e., choosing C over A after previously choosing A over B and B over C). However, these prior studies cannot properly distinguish between two possibilities regarding effects of VMF damage: are individuals with VMF damage prone to choosing irrationally, or are their preferences simply more variable? We had individuals with focal VMF damage, individuals with other frontal damage, and healthy controls make repeated choices across three categories – artwork, chocolate bar brands, and gambles. Using sophisticated tests of transitivity, we find that, without exception, individuals with VMF damage made rational decisions consistent with transitive preferences, even though they more frequently exhibit choice cycles due to a greater variability in their preferences across time. That is, the VMF is necessary for having strong and reliable preferences across time and context, but not for being a rational decision maker. We conclude that VMF damage affects the noisiness with which value is assessed, but not the consistency with which value is sought.Significance statementThe VMF is a part of the brain that is thought to be one of the most important for preference-based choice. Despite this, whether it is needed to make rational choices at all is unknown. Previous studies have not discriminated between different possibilities regarding the critical necessary role that the VMF plays in value-based choice. Our study shows that individuals with VMF damage still make rational decisions consistent with what they prefer, but their choices are more variable and less reliable. That is, the VMF is important for the noisiness with which value is assessed, but not the consistency with which value is sought. This result has widespread implications for rethinking the role of VMF in decision-making.

scholarly journals La veille stratégique entre l'efficacité décisionnelle et l’optimisation de la gouvernance : Etude restreinte dans les organismes publics tunisiens

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
Mostapha Tayeb Ben Amor ◽  
Fatma Chichti
Keyword(s):  
Decision Making ◽  
Knowledge Sharing ◽  
Decision Maker ◽  
Structured Interviews ◽  
Frame Work ◽  
Internal Knowledge

In this article, we highlight the role of strategic watch in aperspective of decision-making efficiency for a better optimization of governance, and thiswithin the framework of a limited study on five (5) Tunisian public organisms. An exploratorystudy was carried out through five semi-structured interviews. The results revealed that theuse of watch practices is essential for internal knowledge sharing, transparency andadministrative openness. A new frame work that tends to improve the decision-making system.It also allows the decision-maker to move from a state of self-satisfaction to a situation ofacceptance of his decision by his environment in a climate of optimal governance.

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