Year: 2023
Type: preprint
Abstract: The Foreign Language effect is claimed to decrease risk aversion. We found no such effect. First, we asked N = 229 Polish native speakers to assign numerical values to verbal probability phrases in Polish and English. After finding very few differences, we conducted an incentivized experiment, N = 281, where Poles had to decide whether they would prefer to receive a granted amount of money or take part in a lottery task where the chance of winning was expressed by the phrases from the pre-test. Regardless of the language, the participants made the same choices.
Authors: Anna Borkowska, Wojciech Milczarski, Michal Bialek
Institution: University of Wrocław
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W4353082008