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dc.contributor.authorHill, Tetiana
dc.contributor.authorKusev, P.
dc.contributor.authorvan Schaik , P.
dc.date.accessioned2019-11-16T01:13:47Z
dc.date.available2019-11-16T01:13:47Z
dc.date.issued2019-08-30
dc.identifier.citationHill , T , Kusev , P & van Schaik , P 2019 , ' Choice Under Risk: How Occupation Influences Preferences ' , Frontiers in Psychology , vol. 10 , 2003 , pp. 1-10 . https://doi.org/10.3389/fpsyg.2019.02003
dc.identifier.issn1664-1078
dc.identifier.otherPURE: 17710952
dc.identifier.otherPURE UUID: 7f3bf122-8744-43bb-84e2-3e321dac4415
dc.identifier.otherScopus: 85071932920
dc.identifier.otherORCID: /0000-0003-4234-5771/work/64667967
dc.identifier.urihttp://hdl.handle.net/2299/21905
dc.description© 2019 Hill, Kusev and van Schaik. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
dc.description.abstractIn the last decade, a number of studies in the behavioral sciences, particularly in psychology and economics, have explored the complexity of individual risk behavior and its underlying factors. Most previous studies have examined the influences of various socio-economic, cognitive, biological and psychological factors on human decision-making, however, the relationship between the decision-makers’ risk preferences and occupational background has not received much empirical attention. Accordingly, in the current study, we investigated how occupational background, together with decision-making framing (e.g., variations in decision domain, context, presentation of risk, and utility ratios), influence participants’ risk preferences for decision options with equivalent expected utility. Our novel findings indicate that risk preferences may vary among individuals from different occupational backgrounds. As such, when the task was framed in gain terms, participants who mostly deal with health/safety-related risks on a day-to-day basis (high-risk occupations) were predominantly risk-averse (avoiding risky options), while participants who mostly deal with financial/social risks (white-collar occupations) were prone to risk-seeking behavior (avoiding certain options). Specifically, in “high-risk” occupations, participants’ pattern of choices changed from risk-averse in gain scenarios to risk-seeking in loss scenarios. However, the opposite pattern of risk preferences was found in participants with “white-collar” occupations. Our findings indicate that decision-makers’ occupational backgrounds influence risk preferences under some circumstances.en
dc.format.extent10
dc.language.isoeng
dc.relation.ispartofFrontiers in Psychology
dc.subjectChoice under risk
dc.subjectDecision context
dc.subjectOccupation
dc.subjectRisk preferences
dc.subjectUtility
dc.subjectPsychology(all)
dc.titleChoice Under Risk: How Occupation Influences Preferencesen
dc.contributor.institutionHertfordshire Business School
dc.description.statusPeer reviewed
dc.identifier.urlhttp://www.scopus.com/inward/record.url?scp=85071932920&partnerID=8YFLogxK
dc.identifier.urlhttps://www.frontiersin.org/articles/10.3389/fpsyg.2019.02003/full
rioxxterms.versionVoR
rioxxterms.versionofrecordhttps://doi.org/10.3389/fpsyg.2019.02003
rioxxterms.typeJournal Article/Review
herts.preservation.rarelyaccessedtrue


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