Tidspress och ekonomiskt risktagande
Prospect TheoryExpected UtilityDual-processTime pressureStressSkin conductanceRandomized experimentRiskProspect theoryExpected utilityDual-processTidspressStressRiskHudkonduktansRandomiserat experiment
Stress and time pressure is more present in todays labor markets. In financial markets a securities broker is forced to take decisions on investments under high cognitive load and under extreme time pressure. The research of decision under risk gained new ground with the development of the prospect theory and gave us new insights to the decision making of men. Prospect theory has shown that people are risk seekers when dealing with loss decisions and risk avert when dealing with profit decisions. The value function are defined over gains and losses. Losses looms larger then gains. Although much research conducted on the decision making under risk no previous research have been done showing how time pressure affects decision at risk by using skin conductance.This paper aimed through a randomized experiment with 23 participants examine how time pressure affects individuals' decisions related to risk. Furthermore, it intends to analyze whether time pressure mediate a possible effect of stress by using skin conductance.The results show that there is an increase in risk aversion for gains. This risk aversion was also statistically significant at the 1% level when each participant's responses were used and almost at 5% level when the mean values from each participant was used. Upon loss a risk -seeking behavior could be noticed but it was not statistically significant at the 5 % level. Stress levels as measured by skin conductance showed that the time-pressed group showed signs of stress. However, no stress data was significant at the 5 % level.