Year: 2023
Type: article
Abstract: Studies suggest that resource scarcity leads to risky behaviors. From a cognitive perspective, a scarcity mindset affects the decision-making process. Does perceived scarcity therefore affect risk taking when making decisions? This study (N = 213) was conducted in western China to examine the effect of perceived scarcity on risky choices. Our results revealed that participants in the scarcity condition tended to be more risk averse than participants in the control condition when making a risky decision. Perceived scarcity increased the probability of choosing the safe option that offered a sure gain. The effect of psychological variables (emotion, risk attitude, personality, impulsivity, self-control and ego depletion) on risky choices was also tested. Risk attitude, urgency in impulsivity, and deliberate action in self-control also influence risky choices.
Source: Behavioral Sciences
DOI: 10.3390/bs13090743
Authors: Shujing Liang, Ping Fan, Guangyong Yang
Institution: Guizhou University
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $2,002
Awards: G2641062412, G5802530248, G934473899
OpenAlex ID: W4386484933