The Effect of Scarcity Mindset on Risky Economic Decision-making

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dc.contributor.advisorSanfey, Alan G.
dc.contributor.advisorFigner, Bernd C.
dc.contributor.authorCao, Thai Q.
dc.date.issued2021-07-01
dc.description.abstractWithin economics, there are several explanations for the influence of poverty on risky behaviors. This psychological research investigated how the feeling of not having enough, or scarcity mindset, affects risky economic decision-making. A between-subjects experiment (N = 126) was conducted to investigate the effect of scarcity and abundance mindset on risky decision-making. The experiment was designed so that the mindsets elicited spill over to the risky decision task to avoid manipulating the level of wealth of the participants, which is an important confounding effect. The result showed that people induced with a scarcity mindset follow the prediction of expected value less than people in an abundance mindset, indicating poorer risky economic decision-making. This finding supports previous literature on the effect of poverty and opens new directions for future research. Keywords: scarcity, abundance, mindset, risky, economic decision-making, poverty
dc.identifier.urihttps://theses.ubn.ru.nl/handle/123456789/19702
dc.language.isoen
dc.thesis.facultyFaculteit der Sociale Wetenschappen
dc.thesis.specialisationspecialisations::Faculteit der Sociale Wetenschappen::Researchmaster Behavioral Science::Researchmaster Behavioral Science
dc.thesis.studyprogrammestudyprogrammes::Faculteit der Sociale Wetenschappen::Researchmaster Behavioral Science
dc.thesis.typeResearchmaster
dc.titleThe Effect of Scarcity Mindset on Risky Economic Decision-making

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