Calendar of events

Title: Risk, Time, and Psychological Distance

Abstract:

Research on the effects of probability (risk) and delay on decision making has focused on examining each dimension separately, and hence little is known about when these dimensions are combined into a single choice option. For this talk, I will present results from behavioural experiments and computational modelling analyses aiming to disentangle the cognitive and psychological underpinnings of risky intertemporal choice, including the application of sequential accumulator modelling (Linear Ballistic Accumulator) and the use of process-tracing designs. In a set of experiments, we examined the order in which information is acquired (payoff, probability, delay), transitions between information items, and how preferences are constructed across time. The results point towards a dimension-wise evaluation of risky and delayed prospects. In addition, we examined how the concept of psychological distance (i.e., temporal) may affect the exposition of risk preferences. We used these observations to inform the development of new models for risky intertemporal choice and to provide novel experimental and behavioural directions for the study of the combined effect of risk and delay on preferential choice.

Dr Manos Konstantinidis, University of Leeds Business School

Host: Dr Elliot Ludvig

3.30pm Refreshments in Common Roon

4pm Talk