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Publications [#274152] of Richard P. Larrick

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Papers Published

  1. Larrick, RP; Heath, C; Wu, G (2009). Goal-induced risktaking in negotiation and decision making. Social Cognition, 27(3), 342-364. [doi]
    (last updated on 2024/03/28)

    Abstract:
    Three experiments test whether specific, challenging goals increase risk taking. We propose that goals serve as reference points, creating a region of perceived losses for outcomes below a goal (Kahneman & Tversky, 1979; Tversky & Kahneman, 1992). According to the Prospect Theory value function, decision makers become more risk seeking in the domain of losses. In all three experiments we compared a "do your best" condition with a "specific, challenging goal" condition. The goal condition consistently increased risky behavior in both negotiation and decision making tasks. The discussion considers how goals influence expectations, strategy choice, and unethical behavior.


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