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Does uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisiveness

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dc.creatorSautua, Santiago Ignaciospa
dc.date.accessioned2020-08-06T16:20:29Z
dc.date.available2020-08-06T16:20:29Z
dc.date.created2017-04spa
dc.description.abstractPrevious research has shown that individual decision making is often characterized by inertia—that is, a tendency for decision makers to choose options that maintain the status quo. In this study, I conduct a laboratory experiment to investigate two potential determinants of inertia in uncertain environments: (i) regret aversion and (ii) ambiguity-driven indecisiveness. I use a between-subjects design with varying conditions to identify the effects of these two mechanisms on choice behavior. In each condition, participants choose between two simple real gambles, one of which is the status quo option. The findings indicate that regret aversion and ambiguity-driven indecisiveness are equally important determinants of inertia, which in turn plays a major role in individual decision making.eng
dc.format.mimetypeapplication/pdf
dc.identifier.doihttps://doi.org/10.1016/j.jebo.2017.02.003
dc.identifier.issnISSN: 0167-2681
dc.identifier.issnEISSN: 1879-1751
dc.identifier.urihttps://repository.urosario.edu.co/handle/10336/26029
dc.language.isoengspa
dc.publisherElsevierspa
dc.relation.citationEndPage14
dc.relation.citationStartPage1
dc.relation.citationTitleJournal of Economic Behavior and Organization
dc.relation.citationVolumeVol. 136
dc.relation.ispartofJournal of Economic Behavior and Organization, ISSN: 0167-2681;EISSN: 1879-1751 Vol.136 (2071); pp. 1-14spa
dc.relation.urihttps://www.sciencedirect.com/science/article/abs/pii/S0167268117300367spa
dc.rights.accesRightsinfo:eu-repo/semantics/restrictedAccess
dc.rights.accesoRestringido (Acceso a grupos específicos)spa
dc.sourceJournal of Economic Behavior and Organizationspa
dc.source.instnameinstname:Universidad del Rosario
dc.source.reponamereponame:Repositorio Institucional EdocUR
dc.subject.keywordStatus quoInertiaspa
dc.subject.keywordReference-dependent preferencesspa
dc.subject.keywordRegret aversionspa
dc.subject.keywordAmbiguityspa
dc.subject.keywordIndecisivenessspa
dc.titleDoes uncertainty cause inertia in decision making?: an experimental study of the role of regret aversion and indecisivenessspa
dc.title.TranslatedTitle¿La incertidumbre causa inercia en la toma de decisiones ?: un estudio experimental del papel de la aversión y la indecisión del arrepentimientospa
dc.typearticleeng
dc.type.hasVersioninfo:eu-repo/semantics/publishedVersion
dc.type.spaArtículospa
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