Feeling, Thinking, and Differential Decision Making Under Risk

Steven Andrews, University of Oregon, USA
Joan Giese, University of Oregon, USA
David Boush, University of Oregon, USA
This research explored more closely why some people fail to conform to prospect theory by linking modern decision making ideas with the concepts of decision framing and individual differences. Study 1 demonstrated individual differences regarding the use of both affect and cognition in the risky decision-making process. High affect individuals avoided risk contrary to prospect theory predictions. Study 2 showed that high affect decision makers negatively anticipate risk consequences and are more likely to anticipate regret in the risky decision making process. Future studies should explore more deeply the influence of regret on differential information processing in risky decision making.
[ to cite ]:
Steven Andrews, Joan Giese, and David Boush (2010) ,"Feeling, Thinking, and Differential Decision Making Under Risk", in NA - Advances in Consumer Research Volume 37, eds. Margaret C. Campbell, Jeff Inman, and Rik Pieters, Duluth, MN : Association for Consumer Research, Pages: 465-466 .