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Extending the entanglement of risk and time

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TitleInfo
Title
Extending the entanglement of risk and time
SubTitle
risk with multiple outcomes affects discounting
Name (type = personal)
NamePart (type = family)
Wall
NamePart (type = given)
Daniel
NamePart (type = date)
1985-
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Daniel Wall
Role
RoleTerm (authority = RULIB)
author
Name (type = personal)
NamePart (type = family)
Hemmer
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Pernille
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Pernille Hemmer
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Advisory Committee
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chair
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NamePart (type = family)
Chapman
NamePart (type = given)
Gretchen
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Gretchen Chapman
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Advisory Committee
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internal member
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Monga
NamePart (type = given)
Ashwani
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Ashwani Monga
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Advisory Committee
Role
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internal member
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NamePart
Rutgers University
Role
RoleTerm (authority = RULIB)
degree grantor
Name (type = corporate)
NamePart
Graduate School - New Brunswick
Role
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school
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Text
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theses
OriginInfo
DateCreated (qualifier = exact)
2017
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2017-05
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2017
Place
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xx
Language
LanguageTerm (authority = ISO639-2b); (type = code)
eng
Abstract (type = abstract)
While many real world decisions involve both risk and delay, relatively little research has investigated the nuanced ways in which they interact. Moreover, those studies which have studied their interaction almost unanimously regard risk as binary – a 50% chance of $100 in four weeks and a 50% chance of $0 – what I term outcome risk. The general finding from these studies is that the combination of risk and time preferences is not a simple combination of each in isolation. This suggests that delay is entangled with risk. In this study, in addition to binary risk, I investigate how risk with multiple outcomes – amount risk – and risk with multiple outcomes and a chance receiving nothing – amount and outcome risk – both affect discounting. To derive predictions for amount and amount and outcome risk, I compare simulated data from a model which presumes that time and risk are entangled to a model which presumes risk and delay are independent. These predictions are tested in two studies and a within paper meta-analysis. As predicted by the simulations, both outcome and amount risk effect discounting and their effects are more pronounced when the delay to one of the options is in the present. Further, the effect of outcome risk is attenuated in the presence of amount risk. Taken together, these results show that a nuanced view of risk is required when investigating its interaction with delay.
Subject (authority = RUETD)
Topic
Psychology
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Title
Rutgers University Electronic Theses and Dissertations
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ETD
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ETD_7983
PhysicalDescription
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electronic resource
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application/pdf
InternetMediaType
text/xml
Extent
1 online resource (iii, 38 p. : ill.)
Note (type = degree)
M.S.
Note (type = bibliography)
Includes bibliographical references
Subject (authority = ETD-LCSH)
Topic
Decision making
Subject (authority = ETD-LCSH)
Topic
Delay discounting (Psychology)
Subject (authority = ETD-LCSH)
Topic
Risk
Note (type = statement of responsibility)
by Daniel Wall
RelatedItem (type = host)
TitleInfo
Title
Graduate School - New Brunswick Electronic Theses and Dissertations
Identifier (type = local)
rucore19991600001
Location
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NjNbRU
Identifier (type = doi)
doi:10.7282/T35H7K5R
Genre (authority = ExL-Esploro)
ETD graduate
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Rights

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The author owns the copyright to this work.
RightsHolder (type = personal)
Name
FamilyName
Wall
GivenName
Daniel
Role
Copyright Holder
RightsEvent
Type
Permission or license
DateTime (encoding = w3cdtf); (qualifier = exact); (point = start)
2017-04-11 10:01:15
AssociatedEntity
Name
Daniel Wall
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Copyright holder
Affiliation
Rutgers University. Graduate School - New Brunswick
AssociatedObject
Type
License
Name
Author Agreement License
Detail
I hereby grant to the Rutgers University Libraries and to my school the non-exclusive right to archive, reproduce and distribute my thesis or dissertation, in whole or in part, and/or my abstract, in whole or in part, in and from an electronic format, subject to the release date subsequently stipulated in this submittal form and approved by my school. I represent and stipulate that the thesis or dissertation and its abstract are my original work, that they do not infringe or violate any rights of others, and that I make these grants as the sole owner of the rights to my thesis or dissertation and its abstract. I represent that I have obtained written permissions, when necessary, from the owner(s) of each third party copyrighted matter to be included in my thesis or dissertation and will supply copies of such upon request by my school. I acknowledge that RU ETD and my school will not distribute my thesis or dissertation or its abstract if, in their reasonable judgment, they believe all such rights have not been secured. I acknowledge that I retain ownership rights to the copyright of my work. I also retain the right to use all or part of this thesis or dissertation in future works, such as articles or books.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
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Technical

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