Decision maker’s personality type and risk attitude

Decision maker’s personality type and risk attitude

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Article ID: iaor19971729
Country: South Korea
Volume: 21
Issue: 2
Start Page Number: 1
End Page Number: 16
Publication Date: Aug 1996
Journal: Journal of the Korean ORMS Society
Authors: ,
Keywords: risk
Abstract:

The personality types developed by Gustav Jung are frequently used to identify people’s decision-making style, especially to determine which functions are dominant ones in the perception and the processing of information. In this paper, the Jungian typology is utilized to investigate if there are any systemtic relations between an individual’s personality type and her/his attitude toward risk. For this purpose, an experiment was conducted where 99 subjects, mostly students, participated in a computer-simulated horse racing game. Each subject’s risk-seeking propensity was measured by the winning chance of the selected horse and the amount of stakes. The results of the experiment show that a decision-maker who is extrovert in attitude and intuitive in perception of information is more likely to be risk prone than the introvert and sensing type. Feeling function in information processing seems to induce more risk seeking attitude then thinking function, but the statistical significance could not be found from the data for this statement. [In Korean.]

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