IDEAS home Printed from https://ideas.repec.org/a/kap/jrisku/v2y1989i2p189-212.html
   My bibliography  Save this article

Adjusting Risky Situations: A Theoretical Framework and Empirical Test

Author

Listed:
  • Wehrung, Donald A
  • Lee, Kam-Hon
  • Tse, David K.
  • Vertinsky, Ilan B.

Abstract

Experienced executives frequently try to modify the risky situations they face in order to make them more favorable rather than simply choosing from among available decision options. This article investigates several types of risk adjustments such as trying to influence the situation through bargaining and spending resources, gathering information, developing new options, and consulting one's superiors. A theoretical framework is presented that characterizes different types of adjustments and relates them to variables such as perceived risk, perceived control, perceived responsibility, decisiveness, and risky choice. The framework is tested using experienced decisionmakers who respond to four simulated risky business decisions. Copyright 1989 by Kluwer Academic Publishers

Suggested Citation

  • Wehrung, Donald A & Lee, Kam-Hon & Tse, David K. & Vertinsky, Ilan B., 1989. "Adjusting Risky Situations: A Theoretical Framework and Empirical Test," Journal of Risk and Uncertainty, Springer, vol. 2(2), pages 189-212, June.
    • Handle: RePEc:kap:jrisku:v:2:y:1989:i:2:p:189-212
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Neyse, Levent & Vieider, Ferdinand M. & Ring, Patrick & Probst, Catharina & Kaernbach, Christian & Eimeren, Thilo van & Schmidt, Ulrich, 2020. "Risk attitudes and digit ratio (2D:4D): Evidence from prospect theory," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 60, pages 29-51.
    2. Bäker, Agnes & Mertins, Vanessa, 2013. "Risk-sorting and preference for team piece rates," Journal of Economic Psychology, Elsevier, vol. 34(C), pages 285-300.
    3. Kaileigh Byrne & Darrell Worthy, 2015. "Gender differences in reward sensitivity and information processing during decision-making," Journal of Risk and Uncertainty, Springer, vol. 50(1), pages 55-71, February.
    4. repec:cup:judgdm:v:3:y:2008:i::p:317-324 is not listed on IDEAS
    5. Yoav Ganzach & Shmuel Ellis & Asya Pazy & Tali Ricci-Siag, 2008. "On the perception and operationalization of risk perception," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 317-324, April.
    6. Nihat Berker, A., 1993. "Critical behavior induced by quenched disorder," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 194(1), pages 72-76.
    7. Abdelkader Baaziz & Luc Quoniam, 2014. "Contribution to reduce risks related to strategic decisions in new uncertain competitive environments: The case of Algerian State-Owned Firms," Post-Print hal-01016127, HAL.
    8. Blossey, R. & Kinoshita, T. & Dupont-Roc, J., 1998. "Random-field Ising model for the hysteresis of the prewetting transition on a disordered substrate," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 248(3), pages 247-272.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jrisku:v:2:y:1989:i:2:p:189-212. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.