Risk preferences in surrogate decision making
There is growing evidence that decisions made on behalf of other people differ from the decisions we make for ourselves because we are less affected by the subjective experience of their outcome. As a result, the decisions we make for other people can be more optimal. This experiment investigated su...
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| Format: | Article |
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Hogrefe
2017
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| Online Access: | https://eprints.nottingham.ac.uk/41492/ |
| _version_ | 1848796285872635904 |
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| author | Batteux, Eleonore Ferguson, Eamonn Tunney, Richard J. |
| author_facet | Batteux, Eleonore Ferguson, Eamonn Tunney, Richard J. |
| author_sort | Batteux, Eleonore |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | There is growing evidence that decisions made on behalf of other people differ from the decisions we make for ourselves because we are less affected by the subjective experience of their outcome. As a result, the decisions we make for other people can be more optimal. This experiment investigated surrogate decision making using a probability discounting task where participants made choices between risky and sure options. Psychological distance between the decision maker and the recipient was manipulated by having participants make decisions for themselves, their friend and another unknown participant. Risk preferences were closer to neutrality (i.e. more consistent with expected value) when making decisions on behalf of another participant than when making decisions for themselves or a friend. We conclude that subjective risk preferences are attenuated in surrogate decision making. Findings are discussed in relation to inconsistencies in the literature and theories of surrogate decision making. |
| first_indexed | 2025-11-14T19:45:34Z |
| format | Article |
| id | nottingham-41492 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T19:45:34Z |
| publishDate | 2017 |
| publisher | Hogrefe |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-414922020-05-04T19:07:25Z https://eprints.nottingham.ac.uk/41492/ Risk preferences in surrogate decision making Batteux, Eleonore Ferguson, Eamonn Tunney, Richard J. There is growing evidence that decisions made on behalf of other people differ from the decisions we make for ourselves because we are less affected by the subjective experience of their outcome. As a result, the decisions we make for other people can be more optimal. This experiment investigated surrogate decision making using a probability discounting task where participants made choices between risky and sure options. Psychological distance between the decision maker and the recipient was manipulated by having participants make decisions for themselves, their friend and another unknown participant. Risk preferences were closer to neutrality (i.e. more consistent with expected value) when making decisions on behalf of another participant than when making decisions for themselves or a friend. We conclude that subjective risk preferences are attenuated in surrogate decision making. Findings are discussed in relation to inconsistencies in the literature and theories of surrogate decision making. Hogrefe 2017-09-18 Article PeerReviewed Batteux, Eleonore, Ferguson, Eamonn and Tunney, Richard J. (2017) Risk preferences in surrogate decision making. Experimental Psychology, 64 (4). pp. 290-297. ISSN 2190-5142 surrogate decisions risk preferences probability discounting decision making http://econtent.hogrefe.com/doi/10.1027/1618-3169/a000371 doi:10.1027/1618-3169/a000371 doi:10.1027/1618-3169/a000371 |
| spellingShingle | surrogate decisions risk preferences probability discounting decision making Batteux, Eleonore Ferguson, Eamonn Tunney, Richard J. Risk preferences in surrogate decision making |
| title | Risk preferences in surrogate decision making |
| title_full | Risk preferences in surrogate decision making |
| title_fullStr | Risk preferences in surrogate decision making |
| title_full_unstemmed | Risk preferences in surrogate decision making |
| title_short | Risk preferences in surrogate decision making |
| title_sort | risk preferences in surrogate decision making |
| topic | surrogate decisions risk preferences probability discounting decision making |
| url | https://eprints.nottingham.ac.uk/41492/ https://eprints.nottingham.ac.uk/41492/ https://eprints.nottingham.ac.uk/41492/ |