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The effect of fast and slow decisions on risk taking.

ABSTRACT: We experimentally compare fast and slow decisions in a series of experiments on financial risk taking in three countries involving over 1700 subjects. To manipulate fast and slow decisions, subjects were randomly allocated to responding within 7 seconds (time pressure) or waiting for at least 7 or 20 seconds (time delay) before responding. To control for different effects of time pressure and time delay on measurement noise, we estimate separate parameters for noise and risk preferences within a random utility framework. We find that time pressure increases risk aversion for gains and risk taking for losses compared to time delay, implying that time pressure increases the reflection effect of Prospect Theory. The results for gains are weaker and less robust than the results for losses. We find no significant difference between time pressure and time delay for loss aversion (tested in only one of the experiments). Time delay also leads to less measurement noise than time pressure and unconstrained decisions, and appears to be an effective way of decreasing noise in experiments.

SUBMITTER: Kirchler M

PROVIDER: S-EPMC5486903 | biostudies-literature | 2017

REPOSITORIES: biostudies-literature

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The effect of fast and slow decisions on risk taking.

Kirchler Michael M Andersson David D Bonn Caroline C Johannesson Magnus M Sørensen Erik Ø EØ Stefan Matthias M Tinghög Gustav G Västfjäll Daniel D

Journal of risk and uncertainty 20170607 1

We experimentally compare fast and slow decisions in a series of experiments on financial risk taking in three countries involving over 1700 subjects. To manipulate fast and slow decisions, subjects were randomly allocated to responding within 7 seconds (time pressure) or waiting for at least 7 or 20 seconds (time delay) before responding. To control for different effects of time pressure and time delay on measurement noise, we estimate separate parameters for noise and risk preferences within a ...[more]

PMID: 28725117

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Project description:This study evaluated the effects of muscle fiber characteristics on meat quality traits in 45 female fast- and slow-growing ducks. Three duck breeds at typical market ages were selected and slaughtered, including fast-growing ducks (Cherry Valley duck) and slow-growing ducks (Small-sized Beijing duck and Liancheng White duck). M. pectoralis major (PM), m. soleus (SOL), m. gastrocnemius (GAS) and m. extensor digitorum longus (EDL) were used to assess muscle fiber characteristics as well as meat quality properties. The results showed that the fiber compositions in PM, GAS, and EDL muscles only consisted of fast-twitch fibers irrespective of the breeds, while a low percentage of slow-twitch fibers were observed in slow-growing ducks (17.03% and 29.14%). The significant clear differences of fiber diameter, fiber density and fiber cross-sectional area (CSA) was observed among three duck breeds. Small-sized Beijing ducks had the highest diameter and cross-sectional fiber area coupled with a dramatically lowest fiber density when compared to other 2 breeds both in breast and leg muscles. In addition, the meat quality traits such as moisture content, release water, and intramuscular fat content were significantly affected by the breeds. Slow-growing ducks, especially Liancheng White ducks, exhibited higher release water, intramuscular fat content, as well as lower moisture content (P < 0.05) compared to the fast-growing ducks. The lower pH24 h value and shear force tended to be present in breast of Liancheng White ducks (P < 0.05). The higher protein content and collagen content were detected in breast of Liancheng White ducks and the leg muscle of Small-sized Beijing ducks (P < 0.05), respectively. Finally, the correlation coefficients between muscle fiber characteristics and meat quality showed that the diameter, density and CSA of fibers had a moderate or significant correlation with pH, shear force value, moisture content, and protein content of meat in fast-growing ducks. In slow-growing ducks, muscle fiber characteristics had a moderate or significant correlation with pH, shear force value, release water, protein content, and intramuscular fat content of meat. These results indicated that muscle fiber characteristics is a useful parameter to explain in parts the variation of meat quality including pH, shear force value, and protein content of meat, both in slow-growing ducks and fast-growing ducks.

Project description:Circadian rhythm disturbances have long been associated with the development of psychiatric disorders, including mood and substance use disorders. Adolescence is a particularly vulnerable time for the onset of psychiatric disorders and for circadian rhythm and sleep disruptions. Preclinical studies have found that circadian rhythm disruption (CRD) impacts the brain and behavior, but this research is largely focused on adult disruptions. Here, we sought to determine the long-term behavioral and neurobiological effects of CRD during early adolescence by exposing mice to 12 h shifts in the light/dark cycle. We hypothesized that adolescent CRD would have a greater effect on psychiatric-related behaviors, relative to adult disruption. To identify possible mechanisms, we also measured gene expression in brain regions relevant to circadian rhythms, mood and reward. We found that disruption during early adolescence, but not adulthood, persistently increased exploratory drive (risk-taking behavior) and cocaine preference when tested later in life. Interestingly, we found sex differences when intravenous cocaine self-administration was tested. While female mice with a history of adolescent CRD had a greater propensity to self-administer cocaine, as well as increased motivation and cue-induced reinstatement, male adolescent CRD mice had reduced motivation and extinction responding. Overall, adolescent CRD in mice caused persistent increases in risky behavior, cocaine reward and cocaine self-administration, which suggests that CRD during adolescence may predispose individuals towards substance use disorders. Importantly, we found that many transcripts were affected by adolescent CRD and these were largely distinct across sex and brain region. Future research is required to elucidate how adolescent CRD affects behaviors relevant to mood- and substance use-related disorders across the 24-hour day, as well as to identify intervention strategies to alleviate disruption during adolescence and novel therapeutic approaches once symptoms have begun.

Dataset Information

The effect of fast and slow decisions on risk taking.

Publications

The effect of fast and slow decisions on risk taking.

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