Tuesday, March 5, 2013

an investigation into risk taking

An investigation into risk taking by individuals and meetings using choice dilemmas.

In light of research into the speculative shift phenomenon ( chromatic, 1961; Wallace, Kogan and Bem, 1962), this ruminate set out to consider the effects of individual and root decision making processes on producing a shift towards risk. It was hypothesised that a collection decision would result in a greater shift towards risk than pre-group individual decisions The study used a repeated subjects design, involving a mixed gender opportunity seek of 126 participants, mean age = 25.6, SD= 10.7. Although participants in the pre-group individual condition showed a slightly greater shift to increased risk compared with group decisions, the results were non-significant, t(125) = -.258, p = .398, one-tailed test, d = 0.03, and based on previous literature, a recommendation was do for further research using palpable instead than hypothetical dilemmas.

It has often been assumed that when making decisions, groups guide to avoid extremes and take fewer chances than individuals (Davis, Kameda and Stasson, 1992).

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Work by Stoner (1961), and replicated by Wallach, Kogan and Bem (1962), using the Choice Dilemmas Questionnaire (CDQ) however, suggested that group decisions are in fact more likely to be risky than those made by individuals, an effect which has become known as risky shift. The original questionnaire contained items which each contributed to the overall shift in various ways (Myers and Lamm, 1964; Cartwright, 1971) and were based on hypothetical rather than real scenarios, which has also been shown to influence group decisions (Wallach, Kogan and Bem ,1964). One write up put forward for risky shift was diffusion of responsibility, whereby group members feel that responsibility for any outcomes is shared, allowing for more extreme judgments (Wallach, Kogan and Bemm, 1964; Baron, Kerr and Miller, 1992). However, this view may be not account for all extreme...If you ask to get a full essay, order it on our website: Orderessay

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