Risk seeking behavior of preschool children in a gambling task

Moreira, Bruno César de Melo; Matsushita, Raul; Silva, Sergio Da

doi:10.1016/j.joep.2010.03.005

Cited by 26 publications

(19 citation statements)

References 46 publications

(11 reference statements)

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“…At younger ages, children are more willing to take risks than adults, and a larger share of them behave in a riskseeking manner (Deckers, Falk, Kosse, and Schildberg-Hörisch 2015;Levin, Hart, Weller, and Harshman 2007;Moreira, Matsushita, and Da Silva 2010;Paulsen, Platt, Huettel, and Brannon 2011). As children grow they become less willing to take risks and in adolescence their risk preferences converge to those of adults (Levin, Hart, Weller, and Harshman 2007;Levin, Weller, Pederson, and Harshman 2007;Paulsen et al 2011).…”

Section: Figure 1 Illustration Of the Framework For Studying The Stabmentioning

confidence: 99%

Are Risk Preferences Stable?

Schildberg-Hörisch

2018

Journal of Economic Perspectives

330

153

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It is ultimately an empirical question whether risk preferences are stable over time. The evidence comes from diverse strands of literature, covering the stability of risk preferences in panel data over shorter periods of time, life-cycle dynamics in risk preferences, the possibly long-lasting effects of exogenous shocks on risk preferences as well as temporary variations in risk preferences. Individual risk preferences appear to be persistent and moderately stable over time, but their degree of stability is too low to be reconciled with the assumption of perfect stability in neoclassical economic theory. We offer an alternative conceptual framework for preference stability that builds on research regarding the stability of personality traits in psychology. The definition of stability used in psychology implies high levels of rank-order stability across individuals and not that the individual will maintain the same level of a trait over time. Preference parameters are considered as distributions with a mean that is significantly but less than perfectly stable, plus some systematic variance. This framework accommodates evidence on systematic changes in risk preferences over the life cycle, due to exogenous shocks such as economic crises or natural catastrophes, and due to temporary changes in self-control resources, emotions, or stress. We note that research on the stability of (risk) preferences is conceptually at the heart of microeconomics and systematic changes in risk preferences have vital real-world consequences.

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Section: Figure 1 Illustration Of the Framework For Studying The Stabmentioning

confidence: 99%

Are Risk Preferences Stable?

Schildberg-Hörisch

2018

Journal of Economic Perspectives

330

153

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“…By focusing on those brain mechanisms involved in consumers' decision-making processes, consumer neuroscience is part of the wide spectrum of research carried out within the broader field of decision neuroscience, which has generated a variety of issues and interests in recent years (Hansen, Kenning, & Plassmann, 2010;e.g. Jamison & Wegener, 2010;Moreira, Matsushita, & Da Silva, 2010;Ramsøy & Skov, 2010).…”

Section: Introductionmentioning

confidence: 99%

The contribution of neuroscience to consumer research: A conceptual framework and empirical review

Solnais

Andreu-Pérez

Sánchez‐Fernández

et al. 2013

Journal of Economic Psychology

142

103

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Following the development of advanced neuroimaging techniques, the growing interest in studying the brain's response to marketing stimuli resulted in the birth of consumer neuroscience within the field of neuroeconomics. However, marketing scholars have remained reluctant to adopt the techniques of neuroscience and there is still uncertainty about the capacity of neuroimaging data to provide useful findings about consumer psychology and behaviour. In order to clarify the current scope and contribution of consumer neuroscience, we first develop a semantic cluster analysis of the boundaries of the field, followed by a comprehensive empirical review from 34 selected studies. We propose a novel approach to classify findings and facilitate the assessment of evidence around the topics of decision-making, rewards, memory and emotions. Finally, we discuss the possible role of several brain mechanisms in the processing of marketing stimuli as well as obstacles to the integration of these findings with classical consumer behaviour theories. We conclude that the contribution of neuroimaging remains too limited to replace existing consumer research techniques and provide recommendations for future research.

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“…For example, age is correlated with risk-taking [6]. Unlike adults, kids are risk-lovers [7]. There is not significant neurological differences between 25 year olds and 75 year olds.…”

Section: Introductionmentioning

confidence: 99%

Prosocial People Take Better Care of Their Own Future Well-Being

Silva¹,

Matsushita²,

Carvalho³

2015

OALib

Self Cite

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There is neuroscientific evidence that people consider future versions of themselves as other people. As a result, intertemporal choice should refer to the interaction between multiple selves. We combine this notion of multiple selves in delay discounting with the approach for otherregarding preferences known as Social Value Orientation. The Social Value Orientation is a psychologically richer framework that generalizes the economic assumption of narrow selfinterest. People are assumed to vary in their motivations toward resource allocation between them and the others. When making such allocation decisions they may still be individualistic, but can also be competitive, prosocial, or even altruistic. We apply an experimental measure of impatience to a sample of 437 undergraduates, measure their Social Value Orientation, and collect selected demographic variables: gender, age, handedness, parenthood, religiousness, and current emotional state. We find prosocial participants to be more patient. Those who care for the others in the present also take better care of themselves in the future. We also find a participant's age and handedness to matter for his or her Social Value Orientation.

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Risk seeking behavior of preschool children in a gambling task

Cited by 26 publications

References 46 publications

Are Risk Preferences Stable?

Are Risk Preferences Stable?

The contribution of neuroscience to consumer research: A conceptual framework and empirical review

Prosocial People Take Better Care of Their Own Future Well-Being

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