Preference Reversal in Risky Choices Under Time Pressure

In three studies, we examine the phenomenon that time pressure leads risky decision-making to a reversal of the usual preference. In Study 1, participants with positive (negative) affect were risk-seeking (risk-averse) when there was no time pressure, but adopted risk-averse (risk-seeking) behaviours under time pressure. In Study 2, we show that it is the salience of negative information under time pressure that mediates the preference reversal. In Study 3, participants with a promotion (prevention) focus preferred prevention- (promotion-) framed and safer (riskier) choices under time pressure. Results suggest that, under time pressure, individuals tend to reverse their risk preferences, with consequences in everyday decision-making.



Citation:

Najam Saqib and Eugene Chan (2010) ,"Preference Reversal in Risky Choices Under Time Pressure", in NA - Advances in Consumer Research Volume 37, eds. Margaret C. Campbell, Jeff Inman, and Rik Pieters, Duluth, MN : Association for Consumer Research, Pages: 585-586 .

Authors

Najam Saqib, Ryerson University, Canada
Eugene Chan, University of Toronto, Canada



Volume

NA - Advances in Consumer Research Volume 37 | 2010



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