Publikacja:

The Effect Of Delay On Risk Tolerance And Probability Weights

Data

2016
Artykuł
Przeszukaj czasopismo Uproszczony widok Pełne metadane Statystyki
 
cris.legacyid5927
cris.virtual.journalance#PLACEHOLDER_PARENT_METADATA_VALUE#
cris.virtualsource.journalancec5e604c2-f6bd-4f19-914c-e01c8ff3c6c3
dc.abstract.plPeople often face choices where outcomes are both delayed and uncertain. Numerous studies of delayed gains and losses show the hyperbolalike discounting process of delayed payoffs. We assumed that when evaluating a delayed lottery people act according to the prospect theory model, where payoffs are discounted according to a hyperbolic function. The problem that we addressed is whether the a parameter of the value function v( ) and the g parameter of the probability weighting function w( ) differ for evaluations of delayed and instant lotteries. We found that when people compare delayed certain payoffs with delayed risky payoffs they are more risk prone than in situations where both certain payoffs and risky payoffs are instant. However, when people compare present certain payoffs with delayed risky payoffs they are less risk prone than in situations where both certain payoffs and risky payoffs are instant. Additionally, the probability weighting curves were more linear for delayed lotteries than for instant lotteries (people were more sensitive to changes of probability).
dc.contributor.affiliationKozminski University
dc.contributor.affiliationKozminski University
dc.contributor.affiliationKozminski University
dc.contributor.authorKatarzyna Idzikowska
dc.contributor.authorTadeusz Tyszka
dc.contributor.authorMarcin Palenik
dc.date.accessioned2025-07-28T14:25:02Z
dc.date.available2025-07-28T14:25:02Z
dc.date.issued2016
dc.date.published12/2016
dc.description.issue26
dc.description.physical5-26
dc.identifier.doi10.7206/DEC.1733-0092.76
dc.identifier.issn1733-0092
dc.identifier.urihttps://repozytorium.kozminski.edu.pl/handle/item/3634
dc.languageen
dc.relation.ispartofCollective and Individual Decisions
dc.relation.pages5-26
dc.rightsCC-BY-4.0
dc.subjectdyskontowanie w funkcji czasu
dc.subjectdyskontowanie w funkcji prawdopodobieństwa
dc.subjectodroczone loterie
dc.subjecthiperboliczne dyskontowanie
dc.subjectteoria perspektywy
dc.subtypeOriginal
dc.title

The Effect Of Delay On Risk Tolerance And Probability Weights

dc.typeArticle
dspace.entity.typePublication