Does uncertainty cause inertia in decision making? An experimental study of the role of regret aversion and indecisiveness

Título traducido de la contribución: ¿La incertidumbre causa inercia en la toma de decisiones? : Un estudio experimental sobre el papel de la aversión al arrepentimiento y la indecisión

Resultado de la investigación: Contribución a RevistaArtículo

9 Citas (Scopus)

Resumen

Investigaciones anteriores han demostrado que la toma de decisiones individuales a menudo se caracteriza por la inercia, es decir, una tendencia de los tomadores de decisiones a elegir opciones que mantienen el statu quo. En este estudio, conduzco un experimento de laboratorio para investigar dos determinantes potenciales de inercia en ambientes inciertos: (i) aversión al arrepentimiento y (ii) falta de decisión motivada por la ambigüedad. Utilizo un diseño entre sujetos con condiciones variables para identificar los efectos de estos dos mecanismos en el comportamiento de elección. En cada condición, los participantes eligen entre dos simples apuestas reales, una de las cuales es la opción de status quo. Los resultados indican que la aversión al arrepentimiento y la indecisión impulsada por la ambigüedad son determinantes igualmente importantes de la inercia, que a su vez desempeña un papel importante en la toma de decisiones individuales.
Idioma originalEnglish (US)
Páginas (desde-hasta)1-14
Número de páginas14
PublicaciónJournal of Economic Behavior and Organization
Volumen136
DOI
EstadoPublished - abr 1 2017

Huella dactilar

Uncertainty
Inertia
Decision making
Experimental study
Individual decision making
Status quo
Laboratory experiments
Decision maker
Choice behavior
Gambles

Citar esto

@article{2dce1d4531ad4ae3a63e4d019dfb4f57,
title = "Does uncertainty cause inertia in decision making?: An experimental study of the role of regret aversion and indecisiveness",
abstract = "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.",
author = "Sautua, {Santiago I.}",
year = "2017",
month = "4",
day = "1",
doi = "10.1016/j.jebo.2017.02.003",
language = "English (US)",
volume = "136",
pages = "1--14",
journal = "Journal of Economic Behavior and Organization",
issn = "0167-2681",
publisher = "Elsevier",

}

TY - JOUR

T1 - Does uncertainty cause inertia in decision making?

T2 - An experimental study of the role of regret aversion and indecisiveness

AU - Sautua, Santiago I.

PY - 2017/4/1

Y1 - 2017/4/1

N2 - 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.

AB - 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.

UR - http://www.scopus.com/inward/record.url?scp=85014052422&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85014052422&partnerID=8YFLogxK

U2 - 10.1016/j.jebo.2017.02.003

DO - 10.1016/j.jebo.2017.02.003

M3 - Article

AN - SCOPUS:85014052422

VL - 136

SP - 1

EP - 14

JO - Journal of Economic Behavior and Organization

JF - Journal of Economic Behavior and Organization

SN - 0167-2681

ER -