Decision-making under different risk presentation forms: an empirical investigation from Czech Republic
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989592%3A15210%2F16%3A33159920" target="_blank" >RIV/61989592:15210/16:33159920 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Decision-making under different risk presentation forms: an empirical investigation from Czech Republic
Original language description
The goal of this research is the empirical investigation of the effect of different forms of presentation of information concerning risky alternatives to people. Specifically, we further explore the findings of Morreale et al. from 2016, concerning the way how decision-makers use the information about possible future outcomes presented in various forms including histograms or continuous distributions in their decision-making. The results of a survey conducted on a sample of 26 bachelor students of Applied Economics in the Czech Republic provide evidence in favor of the existence of the irregularity in risk propensity connected with the amount and form of information presented to the decision-makers identified by Morreale et al. on an Italian sample. This previously undescribed change of risk propensity is associated with the mode of presentation of information, when the decision-maker is provided with the mean value of a risky alternative and the range of its possible values. Departure from this mode - i.e. either reduction or addition of information with respect to this setting can result in the decrease of risk propensity of the decision-maker.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
BB - Applied statistics, operational research
OECD FORD branch
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Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the NSAIS'16 Workshop on Adaptive and Intelligent Systems 2016
ISBN
978-952-265-986-6
ISSN
2243-3376
e-ISSN
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Number of pages
4
Pages from-to
10-13
Publisher name
Lappeenranta University of Technology
Place of publication
Lappeenranta
Event location
Lappeenranta, Finland
Event date
Aug 16, 2016
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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