Abstract

http://ssrn.com/abstract=1938787
 
 

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On the Antecedents of Rational Choice Under Uncertainty


Kelly Goldsmith


Northwestern University - Kellogg School of Management

On Amir


University of California, San Diego (UCSD) - Rady School of Management

June 19, 2012


Abstract:     
For centuries, people have speculated on the factors that promote rational, consistent decisions in face of uncertainty. The current research contributes to this discussion by investigating the role of cognition in decision making consistency under uncertainty. We find that restricting cognitive resources can have the counter-intuitive effect of promoting more consistent responses and that, conversely, encouraging cognition can engender the opposite result. We discuss the different psychological processes that may underlie these results, as well as how these results may help explain conflicting findings regarding responses to uncertainty in general.

Number of Pages in PDF File: 17

Keywords: uncertainty, processing style, uncertainty aversion, Allais Paradox

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Date posted: October 5, 2011 ; Last revised: December 11, 2012

Suggested Citation

Goldsmith, Kelly and Amir, On, On the Antecedents of Rational Choice Under Uncertainty (June 19, 2012). Available at SSRN: http://ssrn.com/abstract=1938787 or http://dx.doi.org/10.2139/ssrn.1938787

Contact Information

Kelly Goldsmith (Contact Author)
Northwestern University - Kellogg School of Management ( email )
2001 Sheridan Road
Evanston, IL 60208
United States
HOME PAGE: http://www.kellogg.northwestern.edu/faculty/goldsmith/htm/
On Amir
University of California, San Diego (UCSD) - Rady School of Management ( email )
9500 Gilman Drive
Rady School of Management
La Jolla, CA 92093
United States
858-534-2023 (Phone)
858-534-0745 (Fax)
HOME PAGE: http://management.ucsd.edu/faculty/directory/amir/
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