Using tri-reference point theory to evaluate risk attitude and the effects of financial incentives in a gamified crowdsourcing task

Harris, Constance M.; Chen, Wu

doi:10.1007/s11573-014-0718-4

Cited by 7 publications

(5 citation statements)

References 43 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Risk-taking aptitude is different from investor to investor. Generally, the investors are categorised into three on the basis of their risk-taking abilities (Harris and Wu 2014). They can be risk averse, risk neutral and risk seeking.…”

Section: Risk-taking Abilitiesmentioning

confidence: 99%

The Compounding Effect of Investors’ Cognition and Risk Absorption Potential on Enhancing the Level of Interest towards Investment in the Domestic Capital Market

Behera

Nanda²,

Sahoo

et al. 2021

JRFM

View full text Add to dashboard Cite

It is eminent to understand, be aware of and encourage domestic retail investors towards investment in the capital market in a developing economy such as India for tackling the situation of capital insufficiency and financial instability. Therefore, the study was purposed to find out the different dimensions of cognition that affect investment attitude and the different characteristics of risk absorption affecting the investment decision making. The study also intended to find the direct and the mediating impact of investors’ cognition directly and through risk-absorption scenarios on the level of interest on investment. The study used the causative research design and by using stratified random sampling, received 392 responses from investors with risk-absorption characteristics from four strata of Odisha (a state of India) through a self-constructed questionnaire. Factor analysis was used to find out the factor of cognition and risk absorption. Multiple linear regression was used to find out the effect of both factors of cognition and risk absorption on the intensity of purchase financial product or level of interest in investment. Mediation analysis was used to find the mediating impact showing the direct and indirect impact of cognition on interest in investment and through the factors risk absorption. The study found that the dimensions of cognition (hot, cold, social and meta) have a significant impact on the level of interest towards investment, so financial product sellers must use these dimensions and sources of cognition to bring up interest from the domestic investor to invest in the domestic capital market. It has also been found that the risk-absorption characteristics play a mediating and vital role in the relation between investors’ cognition and level of interest in investment. Therefore, it is imperative to uplift the risk-absorption capacity through different dimensions of cognition and sources of information, which can reflect in a better understanding of the market and investment scenarios.

show abstract

Section: Risk-taking Abilitiesmentioning

confidence: 99%

The Compounding Effect of Investors’ Cognition and Risk Absorption Potential on Enhancing the Level of Interest towards Investment in the Domestic Capital Market

Behera

Nanda²,

Sahoo

et al. 2021

JRFM

View full text Add to dashboard Cite

show abstract

“…For example, managing dependencies between tasks and sub-tasks drives the ability to coordinate large-scale tasks and improves the completion and acceptance rates of such tasks (Chen et al, 2014). Incentive management, meanwhile, manages the dependencies between workers' performance and different types of rewards available to them (Harris and Wu, 2014). For example, high pricing of tasks lowers the output for the job provider due to budgetary constraints.…”

Section: Coordination System Efficiencymentioning

confidence: 99%

“…The degree to which crowdwork platform governance manages the interdependencies between worker's performance and the incentives and rewards available to them (Harris and Wu, 2014).…”

Section: Incentive Managementmentioning

confidence: 99%

Crowdwork platform governance toward organizational value creation

Gol

Stein

Avital

2019

The Journal of Strategic Information Systems

View full text Add to dashboard Cite

Crowdwork, a new form of digitally mediated employment and part of the so-called gig economy, has the capacity to change the nature of work organization and to provide strategic value to workers, job providers, and intermediary platform owners. However, because crowdwork is temporary, large-scale, distributed, and mediated, its governance remains a challenge that often casts a shadow over its strategic value. The objective of this paper is to shed light on the making of value-adding crowdwork arrangements. Specifically, the paper explores crowdwork platform governance mechanisms and the relationships between these mechanisms and organizational value creation. Building on a comprehensive review of the extant literature on governance and crowdwork, we construct an overarching conceptual model that integrates control system and coordination system as two complementary mechanisms that drive crowdwork platform governance effectiveness and the consequent job provider benefits. Furthermore, the model accentuates the role of the degree of centralization and the degree of routinization as critical moderators in crowdwork platform governance.Overall, the paper highlights the potential of crowdwork to contribute not only to inclusion, fair wages and flexible work arrangements for workers but also to organizations' value and competitive edge.

show abstract

“…Benefiting from the foundational theories of their predecessors, Wang and Johnson (2012) propose trireference point (TRP) theory with minimum requirement (MR), status quo (SQ), and goal (G) as the reference points for decision makers, which is the theoretical tool that this paper emphasizes. Although TRP theory is a recent innovation, it has been widely used in various areas related to decision-making management, such as gamified crowdsourcing tasks (Harris & Wu, 2014), salary perception (Zhao et al,208), HR management (Hu & Wang, 2014), food choice (Lagerkvist et al, 2015), and even international second home retirement motives in Malaysia (Keemun & Musa, 2015).…”

Section: Introductionmentioning

confidence: 99%

“…the constraints of formulas(8) and(9), the positions of particles are randomly initialized, and the velocities of the particles are randomly initialized in the interval (-0.05, 0.05). If the initial solution does not satisfy constraint (5), it is reinitialized.…”

mentioning

confidence: 99%

A Portfolio Optimization Perspective Based on Tri-Reference Point Theory for Explaining the Attractiveness of Structured Products

Wang¹,

He²,

Xuekai³

2020

ECECSR

View full text Add to dashboard Cite

In tri-reference point theory, four regions-failure, loss, gain and success-are formed by three reference points-minimum requirement (MR), status quo (SQ), and goal (G)-which play an important role in decision-making. Considering investors' three reference points with respect to investment returns, optimization models of portfolios including structured products are constructed by employing investors' maximum perceived value in tri-reference point theory as the objective under the premise of satisfying the safety-first principle. Then, a hybrid particle swarm optimization algorithm that is suitable for solving these models is designed. In this setting, the superiority of structured products relative to riskless assets and underlying assets are studied by changing the parameters in trireference point theory. The results show that structured products are the most favored by investors when both MR and G are relatively high. This is because under these circumstances, structured products are capable of satisfying investors' demand for relatively high returns under the premise of ensuring safety and in turn attract the most investors in the market.

show abstract

Using tri-reference point theory to evaluate risk attitude and the effects of financial incentives in a gamified crowdsourcing task

Cited by 7 publications

References 43 publications

The Compounding Effect of Investors’ Cognition and Risk Absorption Potential on Enhancing the Level of Interest towards Investment in the Domestic Capital Market

The Compounding Effect of Investors’ Cognition and Risk Absorption Potential on Enhancing the Level of Interest towards Investment in the Domestic Capital Market

Crowdwork platform governance toward organizational value creation

A Portfolio Optimization Perspective Based on Tri-Reference Point Theory for Explaining the Attractiveness of Structured Products

Contact Info

Product

Resources

About