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Individual differences in a switch from risk-averse preferences for gains to risk-seeking preferences for losses: can personality variables predict the risk preferences?
Li, Shu1; Liu, Chang-Jiang1,2; Shu Li
2008
Source PublicationJOURNAL OF RISK RESEARCH
ISSN1366-9877
SubtypeArticle
Volume11Issue:5Pages:673-686
AbstractIndividual differences on a framing problem and a reflection problem were examined in light of the Myers-Briggs Type Indicator. The predictions on information processing style, derived from Jungian personality type theory, were tested for the much-discussed framing effect in the Asian Disease Problem and for the reflection effect on which the framing effect presumably depends. As anticipated, the results revealed that business students with higher iNtuition/Extraversion scores and lower Judging score were more likely to be consistently risk-seeking. Conversely, those with higher Sensing/Judging scores were more likely to be consistently risk-averse. Both framing and reflection effects were displayed by those with higher Sensing/Judging scores. However, the second expected result was not supported. Rather, a so-called 'gray hair/clouds' effect (effect name inspired by Medin and Shoben's research in 1988), questioning the validity of risk propensity, was observed and analyzed. The somewhat surprising results and their theoretical and practical implications are discussed.; Individual differences on a framing problem and a reflection problem were examined in light of the Myers-Briggs Type Indicator. The predictions on information processing style, derived from Jungian personality type theory, were tested for the much-discussed framing effect in the Asian Disease Problem and for the reflection effect on which the framing effect presumably depends. As anticipated, the results revealed that business students with higher iNtuition/Extraversion scores and lower Judging score were more likely to be consistently risk-seeking. Conversely, those with higher Sensing/Judging scores were more likely to be consistently risk-averse. Both framing and reflection effects were displayed by those with higher Sensing/Judging scores. However, the second expected result was not supported. Rather, a so-called 'gray hair/clouds' effect (effect name inspired by Medin and Shoben's research in 1988), questioning the validity of risk propensity, was observed and analyzed. The somewhat surprising results and their theoretical and practical implications are discussed.
Keywordreflection effect framing effect Myers-Briggs Type Indicator gray hair/clouds effect
Subject Area社会心理学 ; 人格心理学
Indexed BySSCI
Language英语
WOS IDWOS:000258082100006
Citation statistics
Cited Times:5[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Identifierhttp://ir.psych.ac.cn/handle/311026/5477
Collection中国科学院心理研究所回溯数据库(1956-2010)
Corresponding AuthorShu Li
Affiliation1.Chinese Acad Sci, Inst Psychol, Beijing 100101, Peoples R China
2.Chinese Acad Sci, Grad Sch, Beijing, Peoples R China
Recommended Citation
GB/T 7714
Li, Shu,Liu, Chang-Jiang,Shu Li. Individual differences in a switch from risk-averse preferences for gains to risk-seeking preferences for losses: can personality variables predict the risk preferences?[J]. JOURNAL OF RISK RESEARCH,2008,11(5):673-686.
APA Li, Shu,Liu, Chang-Jiang,&Shu Li.(2008).Individual differences in a switch from risk-averse preferences for gains to risk-seeking preferences for losses: can personality variables predict the risk preferences?.JOURNAL OF RISK RESEARCH,11(5),673-686.
MLA Li, Shu,et al."Individual differences in a switch from risk-averse preferences for gains to risk-seeking preferences for losses: can personality variables predict the risk preferences?".JOURNAL OF RISK RESEARCH 11.5(2008):673-686.
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