Publications [#274152] of Richard P. Larrick

Papers Published

1. Larrick, RP; Heath, C; Wu, G, Goal-induced risktaking in negotiation and decision making, Social Cognition, vol. 27 no. 3 (June, 2009), pp. 342-364, Guilford Publications, ISSN 0278-016X [doi]
   (last updated on 2026/01/18)

   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.