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...

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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
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Restringido (Acceso a grupos específicos)
id EDOCUR2_46d1554487d96fd93e828b268a5a05ae
oai_identifier_str oai:repository.urosario.edu.co:10336/26029
network_acronym_str EDOCUR2
network_name_str Repositorio EdocUR - U. Rosario
repository_id_str
spelling 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
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