While risk research focuses on actions that put people at risk, this paper introduces the concept of ``passive risk''---risk brought on or magnified by inaction. We developed a scale measuring personal tendency for passive risk taking (PRT), validated it using a 150 undergraduate student sample,...

We examine how almost winning in roulette affects subsequent betting behavior. Our main finding is heterogeneity in gambler behavior with some gamblers less likely to bet on numbers that were near misses on the prior spin and other gamblers more likely to bet on near miss numbers. Using a unique...

A recent study indicates that acute stress affects moral decision making (Youssef et al., in press). The current study examines whether results can be replicated using a different kind of stressor and a different kind of stress measurement. We induced stress in 25 participants with a cover-story...

We compare four different risk-taking propensity measures on their ability to describe and to predict actual risky behavior in the domain of health. The risk-taking propensity measures we compare are: (1) a general measure of risk-taking propensity derived from a one-item survey question (Dohmen...

When judging their likelihood of success in competitive tasks, people tend to be overoptimistic for easy tasks and overpessimistic for hard tasks (the shared circumstance effect; SCE). Previous research has shown that feedback and experience from repeated-play competitions has a limited impact...

In this paper, we document a violation of normative and descriptive models of decision making under risk. In contrast to uncertainty effects found by Gneezy, List and Wu (2006), some subjects in our experiments valued lotteries more than the best possible outcome. We show that the overbidding...

Recent studies have identified the uncertainty effect (UE), whereby risky prospects (e.g., a binary lottery that offers either a $50 or $100 gift certificate) are valued less than their worst possible outcome (a $50 certificate). This effect has been proposed to result from ``direct...

The present research investigated the relationship between individual differences in maximizing versus satisficing (i.e., seeking to make the single best choice, rather than a choice that is merely good enough) and well-being, in interaction with the society in which an individual lives. Data...

We explored how the perspective through which individuals view their actions influences their ethicality, comparing a narrow perspective that allows for evaluation of each choice in isolation, to a broad perspective that promotes an aggregate view of one's choices. To examine unethical behavior...

We present the Maximization Inventory, which consists of three separate scales: decision difficulty, alternative search, and satisficing. We show that the items of the Maximization Inventory have much better psychometric properties when compared to the original Maximization Scale (Schwartz et...