Measuring the Risk-Taking Willingness of Leaders and Non-Leaders Based on Prospect Theory: Differences in Decision-Making Between Two Groups

DOI

10.2991/aebmr.k.210712.022How to use a DOI?

Keywords

Prospect Theory, Leaders and non-leaders, Risk-taking willingness, Decision-making

Abstract

Based on the Prospect Theory proposed by Daniel Kahneman and Amos Tversky (1979) on people’s willingness in risk-taking, this article tries to find out the differences in the risk-taking willingness between two comparative groups, leaders and non-leaders, which are general in numerous fields. Therefore, an online survey was conducted through a questionnaire, where several simple questions related were designed to distinguish the subjects’ attribute of leaders and non-leaders as well as their respective willingness in risk-taking. The result shows that when it comes to decision-making, the overall trend of people’s attitudes towards risks is consistent with the description of the Prospect Theory, but leaders are more willing to take risks than non-leaders comparatively, both in gain versions and loss versions.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Jingchun Liang
PY  - 2021
DA  - 2021/07/12
TI  - Measuring the Risk-Taking Willingness of Leaders and Non-Leaders Based on Prospect Theory: Differences in Decision-Making Between Two Groups
BT  - Proceedings of the 2021 International Conference on Economic Development and Business Culture (ICEDBC 2021)
PB  - Atlantis Press
SP  - 130
EP  - 134
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210712.022
DO  - 10.2991/aebmr.k.210712.022
ID  - Liang2021
ER  -