Consumer time -related decisions under risk and constraint.
Item
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Title
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Consumer time -related decisions under risk and constraint.
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Identifier
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AAI3213260
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identifier
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3213260
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Creator
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Zushi, Nobuhide.
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Contributor
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Adviser: Eleonora Curlo
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Date
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2006
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Language
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English
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Publisher
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City University of New York.
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Subject
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Business Administration, Marketing
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Abstract
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This dissertation proposes that a Reflection Effect occurs in response to positive or negative framing of time-related decisions. A Reflection Effect occurs when decision-makers are risk-averse for gains and risk-seeking for losses. The Reflection Effect was formulated as part of Prospect Theory (Kahneman and Tversky, 1979) within the context of financial decision-making. Previous attempts to extend these findings to time-related decision-making have produced inconclusive results. This dissertation argues that framing, time constraints, and a constraint's importance influence time-related decisions. Further, this dissertation argues that schedule planning and schedule preservation are the psychological motivations underlying the reflection effect in time-related decisions and supports this with evidence from two experimental studies. In both studies, participants were exposed to a variety of scenarios and asked to choose between options offering certainty verses risk. Design was varied across the studies to allow for comparison with prior research, alternative operationalization of central constructs, and individual-level analysis of decisions. Results show that Prospect Theory holds in time related decision-making in the context of a short timeframe when consumers perceive a time constraint. Results also indicate that consumers are concerned with the possibilities of planning and/or preserving schedules for their choices regarding time. Theoretical and managerial implications derived from the results are discussed.
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Type
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dissertation
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Source
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PQT Legacy CUNY.xlsx
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degree
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Ph.D.
