{"title":"Risky effort","authors":"","doi":"10.1016/j.cognition.2024.105895","DOIUrl":null,"url":null,"abstract":"<div><p>Decision-making involves weighing up the outcome likelihood, potential rewards, and effort needed. Previous research has focused on the trade-offs between risk and reward or between effort and reward. Here we bridge this gap and examine how risk in effort levels influences choice. We focus on how two key properties of choice influence risk preferences for effort: changes in magnitude and probability. Two experiments assessed people's risk attitudes for effort, and an additional experiment provided a control condition using monetary gambles. The extent to which people valued effort was related to their pattern of risk preferences. Unlike with monetary outcomes, however, there was substantial heterogeneity in effort-based risk preferences: People who responded to effort as costly exhibited a “flipped” interaction pattern of risk preferences. The direction of the pattern depended on whether people treated effort as a loss of resources. Most, but not all, people treat effort as a loss and are more willing to take risks to avoid potentially high levels of effort.</p></div>","PeriodicalId":48455,"journal":{"name":"Cognition","volume":null,"pages":null},"PeriodicalIF":2.8000,"publicationDate":"2024-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0010027724001811/pdfft?md5=9522da9b374442c14110aa993beff1a9&pid=1-s2.0-S0010027724001811-main.pdf","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Cognition","FirstCategoryId":"102","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0010027724001811","RegionNum":1,"RegionCategory":"心理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"PSYCHOLOGY, EXPERIMENTAL","Score":null,"Total":0}
引用次数: 0
Abstract
Decision-making involves weighing up the outcome likelihood, potential rewards, and effort needed. Previous research has focused on the trade-offs between risk and reward or between effort and reward. Here we bridge this gap and examine how risk in effort levels influences choice. We focus on how two key properties of choice influence risk preferences for effort: changes in magnitude and probability. Two experiments assessed people's risk attitudes for effort, and an additional experiment provided a control condition using monetary gambles. The extent to which people valued effort was related to their pattern of risk preferences. Unlike with monetary outcomes, however, there was substantial heterogeneity in effort-based risk preferences: People who responded to effort as costly exhibited a “flipped” interaction pattern of risk preferences. The direction of the pattern depended on whether people treated effort as a loss of resources. Most, but not all, people treat effort as a loss and are more willing to take risks to avoid potentially high levels of effort.
期刊介绍:
Cognition is an international journal that publishes theoretical and experimental papers on the study of the mind. It covers a wide variety of subjects concerning all the different aspects of cognition, ranging from biological and experimental studies to formal analysis. Contributions from the fields of psychology, neuroscience, linguistics, computer science, mathematics, ethology and philosophy are welcome in this journal provided that they have some bearing on the functioning of the mind. In addition, the journal serves as a forum for discussion of social and political aspects of cognitive science.