Effort provision as a reference point in risk decision-making

• Main Authors: Leong, Carissa Jun Wei, Pang, Hui Xia, Tok, Wan Ling
• Other Authors: He Tai-Sen
• Format: Final Year Project
• Language: English
• Published: 2019
• Subjects: DRNTU::Social sciences::Psychology
• Online Access: http://hdl.handle.net/10356/76641
• Institution: Nanyang Technological University

This paper presents evidence on the effect of effort provision on the risk attitude of individuals through the mechanism of reference point. Effort is found to be perceived as part of people’s decision costs and is also capable of shaping their expectations, which are fundamental in the formation of...