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DC FieldValueLanguage
dc.contributorDepartment of Management and Marketingen_US
dc.contributor.advisorSavani, Krishna (MM)en_US
dc.contributor.advisorOu, Yi Amy (MM)en_US
dc.creatorYu, Xinhao-
dc.identifier.urihttps://theses.lib.polyu.edu.hk/handle/200/13211-
dc.languageEnglishen_US
dc.publisherHong Kong Polytechnic Universityen_US
dc.rightsAll rights reserveden_US
dc.titleLoss helps people make more rational decisionsen_US
dcterms.abstractBiases often arise when people make choices and evaluate outcomes, leading them astray from optimal decision-making based on economic theories. Although researchers have proposed cognitive and motivational interventions to de-bias people, few interventions can address multiple biases simultaneously. This research aims to achieve this goal by examining people’s tendencies to exhibit or avoid decision-making biases after they experience losses or gains. I argue that people experiencing losses tend to avoid certain decision-making biases as they become more cautious or process information more deliberately. Three experiments tested the effects of experienced losses on the three most prevalent biases when people make and reflect on decisions (sunk cost bias, default bias, and outcome bias). The results indicated that a loss manipulation significantly reduced the three biases, with effect sizes approximately halving compared to a gain manipulation. These findings are consistent with the idea that losses promote more analytical thinking that helps people make more rational decisions.en_US
dcterms.extent43 pages : color illustrationsen_US
dcterms.isPartOfPolyU Electronic Thesesen_US
dcterms.issued2024en_US
dcterms.educationalLevelM.Phil.en_US
dcterms.educationalLevelAll Masteren_US
dcterms.LCSHDecision makingen_US
dcterms.LCSHChoice (Psychology)en_US
dcterms.LCSHDiscrimination -- Psychological aspectsen_US
dcterms.LCSHHong Kong Polytechnic University -- Dissertationsen_US
dcterms.accessRightsopen accessen_US

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