Raftery, J; Csete, J and Hui, S K F (2001) Are risk attitudes robust? Qualitative evidence before and after a business cycle inflection. Construction Management and Economics, 19(2), pp. 155-164. ISSN 01446193
Abstract
Attitudes to the monetary risks associated with business decisions are thought to vary in response to at least three identifiable stimuli: the amount of money involved, background economic conditions and the framing of the decision. This paper reports a study of peoples' attitude to risk before and after a real turning point in the real business cycle. This work sheds light on the extent to which (i) risk attitudes remain robust when economic conditions change, (ii) risk attitude is influenced by whether the choice problem is concerned with losses or with gains, and (iii) risk attitude may be subordinated to some other dominating objective.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | business cycles; risk attitude |
| Index terms: | economic condition, framing, risk attitude, evidence |
| Subjects: | evaluation and assessment methods, conceptual models, economic analysis, decision-making and reasoning |
| Topics: | Research Practice, Business Strategy |
| Descriptive scope: | 2 CA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here