The motivational effect of need on decision-making under risk
Date
2010
Authors
Mishra, Sandeep
University of Lethbridge. Faculty of Arts and Science
Journal Title
Journal ISSN
Volume Title
Publisher
Lethbridge, Alta. : University of Lethbridge, Dept. of Psychology, c2010
Abstract
Risk-sensitivity theory predicts that decision-makers shift from risk-aversion to riskpreference
in situations where low-risk options are unlikely to meet their needs. Risksensitive
theory is contrasted with more traditional unbounded models of decision-making
predicting that decision-makers seek to optimize utility in all decisions. In this dissertation, I
review influential theories of decision-making from the various behavioral sciences, and offer
an integrated approach to understanding decision-making informed by evolutionary theory. I
then present evidence suggesting that risk-taking comprises a general phenomenon, inclusive
of such behaviors as gambling and antisocial conduct. Finally, I demonstrate in several
laboratory experiments that conditions of need, such as inequality, are important motivators
of risky behavior. Together, the results suggest that risk-taking represents a functional
triggering of preference for variable outcomes in response to conditions of need, consistent
with risk-sensitivity theory.
Description
xiv, 149 leaves ; 29 cm
Keywords
Decision making , Risk-taking (Psychology) , Dissertations, Academic