Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness
Previous research has shown that individual decision making is often characterized by inertia—that is, a tendency for decision makers to choose options that maintain the status quo. In this study, I conduct a laboratory experiment to investigate two potential determinants of inertia in uncertain env...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2017
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- eng
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/26029
- Acceso en línea:
- https://doi.org/10.1016/j.jebo.2017.02.003
https://repository.urosario.edu.co/handle/10336/26029
- Palabra clave:
- Status quoInertia
Reference-dependent preferences
Regret aversion
Ambiguity
Indecisiveness
- Rights
- License
- Restringido (Acceso a grupos específicos)
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5453346002020-08-06T16:20:29Z2020-08-06T16:20:29Z2017-04Previous research has shown that individual decision making is often characterized by inertia—that is, a tendency for decision makers to choose options that maintain the status quo. In this study, I conduct a laboratory experiment to investigate two potential determinants of inertia in uncertain environments: (i) regret aversion and (ii) ambiguity-driven indecisiveness. I use a between-subjects design with varying conditions to identify the effects of these two mechanisms on choice behavior. In each condition, participants choose between two simple real gambles, one of which is the status quo option. The findings indicate that regret aversion and ambiguity-driven indecisiveness are equally important determinants of inertia, which in turn plays a major role in individual decision making.application/pdfhttps://doi.org/10.1016/j.jebo.2017.02.003ISSN: 0167-2681EISSN: 1879-1751https://repository.urosario.edu.co/handle/10336/26029engElsevier141Journal of Economic Behavior and OrganizationVol. 136Journal of Economic Behavior and Organization, ISSN: 0167-2681;EISSN: 1879-1751 Vol.136 (2071); pp. 1-14https://www.sciencedirect.com/science/article/abs/pii/S0167268117300367Restringido (Acceso a grupos específicos)http://purl.org/coar/access_right/c_16ecJournal of Economic Behavior and Organizationinstname:Universidad del Rosarioreponame:Repositorio Institucional EdocURStatus quoInertiaReference-dependent preferencesRegret aversionAmbiguityIndecisivenessDoes uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness¿La incertidumbre causa inercia en la toma de decisiones ?: un estudio experimental del papel de la aversión y la indecisión del arrepentimientoarticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501Sautua, Santiago Ignacio10336/26029oai:repository.urosario.edu.co:10336/260292021-10-25 16:52:16.648https://repository.urosario.edu.coRepositorio institucional EdocURedocur@urosario.edu.co |
dc.title.spa.fl_str_mv |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness |
dc.title.TranslatedTitle.spa.fl_str_mv |
¿La incertidumbre causa inercia en la toma de decisiones ?: un estudio experimental del papel de la aversión y la indecisión del arrepentimiento |
title |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness |
spellingShingle |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness Status quoInertia Reference-dependent preferences Regret aversion Ambiguity Indecisiveness |
title_short |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness |
title_full |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness |
title_fullStr |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness |
title_full_unstemmed |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness |
title_sort |
Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness |
dc.subject.keyword.spa.fl_str_mv |
Status quoInertia Reference-dependent preferences Regret aversion Ambiguity Indecisiveness |
topic |
Status quoInertia Reference-dependent preferences Regret aversion Ambiguity Indecisiveness |
description |
Previous research has shown that individual decision making is often characterized by inertia—that is, a tendency for decision makers to choose options that maintain the status quo. In this study, I conduct a laboratory experiment to investigate two potential determinants of inertia in uncertain environments: (i) regret aversion and (ii) ambiguity-driven indecisiveness. I use a between-subjects design with varying conditions to identify the effects of these two mechanisms on choice behavior. In each condition, participants choose between two simple real gambles, one of which is the status quo option. The findings indicate that regret aversion and ambiguity-driven indecisiveness are equally important determinants of inertia, which in turn plays a major role in individual decision making. |
publishDate |
2017 |
dc.date.created.spa.fl_str_mv |
2017-04 |
dc.date.accessioned.none.fl_str_mv |
2020-08-06T16:20:29Z |
dc.date.available.none.fl_str_mv |
2020-08-06T16:20:29Z |
dc.type.eng.fl_str_mv |
article |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 |
dc.type.spa.spa.fl_str_mv |
Artículo |
dc.identifier.doi.none.fl_str_mv |
https://doi.org/10.1016/j.jebo.2017.02.003 |
dc.identifier.issn.none.fl_str_mv |
ISSN: 0167-2681 EISSN: 1879-1751 |
dc.identifier.uri.none.fl_str_mv |
https://repository.urosario.edu.co/handle/10336/26029 |
url |
https://doi.org/10.1016/j.jebo.2017.02.003 https://repository.urosario.edu.co/handle/10336/26029 |
identifier_str_mv |
ISSN: 0167-2681 EISSN: 1879-1751 |
dc.language.iso.spa.fl_str_mv |
eng |
language |
eng |
dc.relation.citationEndPage.none.fl_str_mv |
14 |
dc.relation.citationStartPage.none.fl_str_mv |
1 |
dc.relation.citationTitle.none.fl_str_mv |
Journal of Economic Behavior and Organization |
dc.relation.citationVolume.none.fl_str_mv |
Vol. 136 |
dc.relation.ispartof.spa.fl_str_mv |
Journal of Economic Behavior and Organization, ISSN: 0167-2681;EISSN: 1879-1751 Vol.136 (2071); pp. 1-14 |
dc.relation.uri.spa.fl_str_mv |
https://www.sciencedirect.com/science/article/abs/pii/S0167268117300367 |
dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_16ec |
dc.rights.acceso.spa.fl_str_mv |
Restringido (Acceso a grupos específicos) |
rights_invalid_str_mv |
Restringido (Acceso a grupos específicos) http://purl.org/coar/access_right/c_16ec |
dc.format.mimetype.none.fl_str_mv |
application/pdf |
dc.publisher.spa.fl_str_mv |
Elsevier |
dc.source.spa.fl_str_mv |
Journal of Economic Behavior and Organization |
institution |
Universidad del Rosario |
dc.source.instname.none.fl_str_mv |
instname:Universidad del Rosario |
dc.source.reponame.none.fl_str_mv |
reponame:Repositorio Institucional EdocUR |
repository.name.fl_str_mv |
Repositorio institucional EdocUR |
repository.mail.fl_str_mv |
edocur@urosario.edu.co |
_version_ |
1814167547376828416 |