14:30 - 16:00
Tue-Main hall - Z2b-Poster 2--57
Tue-Poster 2
Room: Main hall - Z2b
Studying risky choices: A comparative analysis of three perspectives
Tue-Main hall - Z2b-Poster 2-5703
Presented by: Olivia Fischer
Olivia FischerAaron LobRenato Frey
University of Zurich
How people make risky choices in life and what psychological and environmental factors affect these choices are key questions of the behavioral sciences. But little research has investigated the extent to which risky choices studied in behavioral research align with actual concerns of people's everyday lives, or with risky choices that lead to measurable life outcomes. This project aims to bridge the gap between these three perspectives. Two research questions guide our work: (1) How do these three perspectives differ in terms of the risky choices that they consider relevant? (2) What explains potential differences in terms of relevant psychological and environmental factors or domains? We collected extensive inventories of risky choices from all three perspectives through population surveys, an expert survey, and literature reviews, resulting in N = 214 risky choices. In a preregistered study, participants assess (1) the pairwise similarities of a random subset of these choices and (2) the importance of 30 theory-driven psychological and environmental factors when facing these choices. This allows us to identify shared and unique choices across these perspectives. We do this using participants' similarity ratings and by extracting choices’ sentence embeddings to map the semantic space of these perspectives. Additionally, we use Bayesian mixed effects models and multidimensional scaling to explore perspective- and domain-specific profiles and conditional effects of psychological and environmental factors relevant to different risky choices. This research aims to refine the focus of risk studies and guide the selection of relevant (drivers of) risky choices for further study.
Keywords: risky choice, risk taking, data-driven inventory, comparative analyses