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Evaluating risk attitudes across cultures
Published in Institute of Electrical and Electronics Engineers Inc.
2019
Volume: 2019-October
   
Pages: 1535 - 1539
Abstract
Decision-making under risk or uncertainty is quite common in various environments. According to decision-maker's preferences, there are three types of attitudes toward risk: Risk averse, risk prone or risk neutral. The aim of this work is to perform a cross-cultural analyzes of the risk preferences of subjects who belong to two different cultures. A questionnaire is applied with Brazilians and Indians to capture their preferences in order to observe the attitudes towards risk and check if they act in different way. Using the concept of Certainty Equivalent, it was found they present the same attitude when facing risk situations, being risk averse. At the end of this step, the information serves as an input to consider when negotiating with a counterpart from different cultures. © 2019 IEEE.
About the journal
JournalData powered by TypesetConference Proceedings - IEEE International Conference on Systems, Man and Cybernetics
PublisherData powered by TypesetInstitute of Electrical and Electronics Engineers Inc.
ISSN1062922X
Open AccessNo
Concepts (9)
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    Risk analysis
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    CERTAINTY EQUIVALENT
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    DECISION MAKER'S PREFERENCES
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    DECISION-MAKING UNDER RISKS
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    RISK ATTITUDE
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    RISK AVERSE
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    RISK NEUTRALS
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    RISK PREFERENCE
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    Decision making