TY  - JOUR
PY  - 2012//
TI  - Prospect theory or construal level theory? Diminishing sensitivity vs. psychological distance in risky decisions
JO  - Acta psychologica
A1  - Trautmann, Stefan T.
A1  - van de Kuilen, Gijs
SP  - 254
EP  - 260
VL  - 139
IS  - 1
N2  - Attitudes toward risks are central to organizational decisions. These attitudes are commonly modeled by prospect theory. Construal level theory has been proposed as an alternative theory of risky choice, accounting for psychological distance deriving from temporal, spatial and social aspects of risk that are typical of agency situations. Unnoticed in the literature, the two theories make contradicting predictions. The current study investigates which theory provides a better description of risky decisions in the presence of temporal, spatial, and social factors. We find that the psychophysical effects modeled by prospect theory dominate the psychological distance effects of construal level theory.<p /> <p>Language: en</p>
LA  - en
SN  - 0001-6918
UR  - http://dx.doi.org/10.1016/j.actpsy.2011.08.006
ID  - ref1
ER  -