Proceedings of the 2021 International Conference on Economic Development and Business Culture (ICEDBC 2021)

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

Authors
Jingchun Liang
Corresponding Author
Jingchun Liang
Available Online 12 July 2021.
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)

Volume Title
Proceedings of the 2021 International Conference on Economic Development and Business Culture (ICEDBC 2021)
Series
Advances in Economics, Business and Management Research
Publication Date
12 July 2021
ISBN
10.2991/aebmr.k.210712.022
ISSN
2352-5428
DOI
10.2991/aebmr.k.210712.022How to use a DOI?
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/).

Cite this article

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  -