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Aspirations as reference points: an experimental investigation of risk behavior over time

机译:愿望作为参考点:一段时间内对风险行为的实验研究

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摘要

This paper examines the importance of aspirations as reference points in a multi-period decision-making context. After stating their personal aspiration level, 172 individuals made six sequential decisions among risky prospects as part of a choice experiment. The results show that individuals make different risky-choices in a multi-period compared to a single-period setting. In particular, individuals’ aspiration level is their main reference point during the early stages of decision-making, while their starting status (wealth level at the start of the experiment) becomes the central reference point during the later stages of their multi-period decision-making.
机译:本文探讨了在多个时期的决策环境中将愿望作为参考点的重要性。在陈述他们的个人愿望水平之后,作为选择实验的一部分,有172个人在危险的潜在客户中做出了六个顺序的决定。结果表明,与单时期相比,个人在多时期中做出不同的风险选择。特别是,个人的抱负水平是他们在决策早期阶段的主要参考点,而他们的开始状态(实验开始时的财富水平)成为他们在多阶段决策的后期阶段的核心参考点-制造。

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