A portfolio of risk measures

MacCrimmon, Kenneth R.; Wehrung, Donald A.

doi:10.1007/bf00134352

Cited by 81 publications

(48 citation statements)

References 32 publications

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“…We also asked whether they characterized the issue as a positive or a negative situation (Jackson & Dutton, 1988;MacGrimmon & Wehrung, 1985;Sitkin & Weingart, 1995). Cronbach's a for the risk perception construct is 0.81.…”

Section: Dependent Variablementioning

confidence: 99%

The Role of Mixed Emotions in the Risk Perception of Novice and Serial Entrepreneurs

Podoynitsyna

Bij

Song

2012

Entrepreneurship Theory and Practice

127

110

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This study examines the role of mixed emotions in the risk perception of entrepreneurs, an important determinant of entrepreneurial decision making. We extend the literature on mixed emotions by applying the cognitive appraisal tendency approach and contrasting it with ambivalence stemming from the valence-based approach. We test our hypotheses on a data set of 253 entrepreneurs from the United States. We show that mixed and conflicting emotions are an important predictor of the risk perception of entrepreneurs. At the same time, we find that emotional reactions of entrepreneurs on strategic issues change substantially as they found more ventures and become habitual entrepreneurs.

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Section: Dependent Variablementioning

confidence: 99%

The Role of Mixed Emotions in the Risk Perception of Novice and Serial Entrepreneurs

Podoynitsyna

Bij

Song

2012

Entrepreneurship Theory and Practice

127

110

View full text Add to dashboard Cite

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“…Specific risk tolerance is described as a dispositional tendency to take or avoid risks in a specific situation, which is different from general risk tolerance where people exhibit stable preferences over a variety of situations. In a consumer context, 'preference for risk' was significant in predicting choice under risk and early work on a portfolio of risk measures found some support for a concept of risk tolerance as an individual difference (Zickar and Highhouse, 1998), since differences among individuals were stronger than differences in the various measures for a single individual (MacCrimmon and Wehrung, 1985). In contrast, Pablo (1997) found that personality factors did not emerge as a significant determinant of an individual's willingness to take risks; and Schoemaker (1990) found low correlations within individuals across decision domains.…”

Section: Consumer Tolerance Of Food Riskmentioning

confidence: 99%

How message framing affects consumer attitudes in food crises

Mitchell

Bakewell

Jackson

et al. 2015

British Food Journal

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This is the accepted version of the paper.This version of the publication may differ from the final published version. Article Title; How message framing affects consumer attitudes in food crises. Permanent repository link Structured AbstractPurpose; This study explores the relationship between consumer risk perceptions and behaviour when information about food risks is framed in a positive or negative way.Design/methodology/approach; Using food consumption scenarios in an on-line experiment consumers perceived risk and risk tolerance is examined when messages are framed in three different news-type stories.Findings; As anticipated, message framing emerged as a significant predictor of perceived risk and the higher an individual's self-reported tolerance of risk, the more risk they were willing to accept.Research limitations/implications; The use of hypothetical scenarios and relatively small convenience sample size could be improved by further research.Practical implications; Through simple adjustments to wording, food crises of confidence may be reduced and the implications for communication management strategies are discussed.Originality/value; Originality stems from being one of the first papers to use Framing and Prospect Theory in a food crisis situation, in which both risk and framing are operationalised in different ways and the risk was not specified by the researcher. Also, unlike previous research identical numerical facts were framed in a positive, negative or neutral light by changing the wording.

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“…Researchers disagree on the extent to which managerial risk propensity influences managerial behavior. MacCrimmon and Wehrung (1985) state that though risk propensity is a stable trait, willingness to take risks varies across contexts, particularly across contexts that are perceived as opportunities rather than threats. In our context of new technology deployment, we note that the exploration of new routines is generally associated with greater risk taking than is exploitation (March 1991).…”

Section: Risk-taking-caution Cognitive Style and New Technology Deplomentioning

confidence: 98%

Applying an organizational learning perspective to new technology deployment by technological gatekeepers: A theoretical model and key issues for future research

Rau

Hærem

2009

Inf Syst Front

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Organizations often under-utilize expensive information technology (IT) enabled work processes that automate routines or processes that were previously carried out manually. One reason for this phenomenon may lie in the types of decisions made by technological gatekeepers, who are key individuals charged with deploying new technologies in organizations. From an organizational learning perspective, technological gatekeepers are more likely to perform successfully when they make appropriate decisions about exploring or exploiting the routines associated with a new technology. The factors that influence gatekeepers' decisions about exploration or exploitation, however, are still largely unexplored. In this study, we present a model based on the basic technology acceptance model (TAM) to examine this issue. We use concepts from the literatures on organizational learning, expertise, and cognitive styles to elaborate on the constructs in our model, and examine how these literatures can inform our understanding of technological gatekeepers' decisions. The goal of this paper is to accelerate micro-level research on new technology deployment in organizations by identifying some key issues and propositions for future studies.

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A portfolio of risk measures

Cited by 81 publications

References 32 publications

The Role of Mixed Emotions in the Risk Perception of Novice and Serial Entrepreneurs

The Role of Mixed Emotions in the Risk Perception of Novice and Serial Entrepreneurs

How message framing affects consumer attitudes in food crises

Applying an organizational learning perspective to new technology deployment by technological gatekeepers: A theoretical model and key issues for future research

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