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Forecasted risk taking in youth: evidence for a bounded-rationality perspective

Dhami, MK and Mandel, DR (2012) Forecasted risk taking in youth: evidence for a bounded-rationality perspective Synthese.

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Abstract

This research examined whether youth’s forecasted risk taking is best predicted by a compensatory (namely, subjective expected utility) or non-compensatory (e.g., single-factor) model. Ninety youth assessed the importance of perceived benefits, importance of perceived drawbacks, subjective probability of benefits, and subjective probability of drawbacks for 16 risky behaviors clustered evenly into recreational and health/safety domains. In both domains, there was strong support for a non compensatory model in which only the perceived importance of the benefits of engaging in a risky behavior predicted youths’ forecasted engagement in risky behavior. The study overcomes earlier methodological weaknesses by fully decomposing participants’ assessments into importance and probability aspects for both benefits and drawbacks. As such, the findings provide clear evidence in support of a bounded rationality perspective on youth decision making regarding risk taking.

Item Type: Article
Authors :
NameEmailORCID
Dhami, MKm.dhami@surrey.ac.ukUNSPECIFIED
Mandel, DRUNSPECIFIEDUNSPECIFIED
Date : 24 May 2012
Identification Number : https://doi.org/10.1007/s11229-012-0110-2
Related URLs :
Depositing User : Symplectic Elements
Date Deposited : 17 May 2017 09:46
Last Modified : 17 May 2017 14:44
URI: http://epubs.surrey.ac.uk/id/eprint/825088

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