A re-examination of the effect of contextual group size on people’s attitude to risk

Kazumi Shimizu and Daisuke Udagawa

Judgment and Decision Making, 2011, vol. 6, issue 2, 156-162

Abstract: Using Kahneman and Tversky’s life-death decision paradigm, Wang and colleagues (e.g., Wang & Johnston, 1995; Wang, 1996a, 1996b, 1996c, 2008; Wang et al., 2001) have shown two characteristic phenomena regarding people’s attitude to risk when the contextual group size is manipulated. In both positive and negative frames, people tend to take greater risks in life-death decisions as the contextual group size becomes smaller; this risk-seeking attitude is greater when framed positively than negatively. (This second characteristic often leads to the disappearance of the framing effect in small group contexts comprising of 6 or 60 people.) Their results could shed new light on the effect of contextual group size on people’s risk choice. However these results are usually observed in laboratory experiments with university student samples. This study aims to examine the external validity of these results through different ways of experimentation and with a different sample base. The first characteristic was replicated in both a face-to-face interview with a randomly selected sample of the Japanese general public, and a web-based experiment with a non-student sample, but not the second.

Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:judgdm:v:6:y:2011:i:2:p:156-162_5

Access Statistics for this article

More articles in Judgment and Decision Making from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().