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Abstract
Based on the construal level theory, this paper investigates the influence of different dimensions of psychological distance on the ambiguity decision making. Based on the four dimensions of psychological distance, this paper uses single factor within-subjects experiment design and randomly assigns subjects into each dimension to participate in the experimental manipulation so as to test whether different psychological distance dimensions have an influence on the ambiguity decision making. The results show that, under the conditions of time distance, space distance, social distance and probability, the closer the psychological distance is to decision making, the lower the construal level for the decision event or the object, thereby more inclined to ambiguity avoidance. Thus, the closer the psychological distance of decision event is, the higher degree of the individual’s ambiguity avoidance.
Highlights
We all have to face all kinds of decision-making situations in our daily life
Based on the construal level theory, this paper investigates the influence of different dimensions of psychological distance on the ambiguity decision making
The different dimensions of psychological distance were subject to a manipulation test, the psychological distance size perceived on dimensions of the time distance, space distance, social distance and probability was scored via a 7-point scale: “1” represents very close, “7” represents very far, “4” represents the median degree, and the subjects were asked to fill out the choosing preference scale under different psychological distance dimensions
Summary
We all have to face all kinds of decision-making situations in our daily life. In some decision situations, the probability of the occurrence of a specific event is known, such as throwing a sieve or tossing a coin, and the decision made in the case is a kind of risk type decision. Researchers have found that people like to evade the ambiguity in the profit framework, but like to seek ambiguity in the loss framework (Osmont, Cassotti, Agogué, Houdé, & Moutier, 2015) Most of these factors are discussed from the point of view of decision makers or decision-making tasks, and the factors that affect decision making are influenced by different perceptions of psychological distance in decision situations besides decision makers or decision-making tasks. They can be divided into making decisions for themselves and for strangers, making decisions for the present and for the future, for the event with a very large probability of occurrence and for the event with a small probability of occurrence, for the event with a short space distance and the event with a long space distance. This study attempts to explore the influence of the psychological distance on the ambiguity decision by a series of situational experiments from the dimensions of time distance, space distance, social distance and probability, and makes the following hypotheses: H1: Compared with the longer time distance, the individual is more inclined to ambiguity avoidance when the time distance is shorter; H2: Compared with the farther space distance, the individual is more inclined to ambiguity avoidance when the space distance is nearer; H3: Compared with making decision for strangers, the individual is more inclined to ambiguity avoidance when making decision for herself/himself; H4: Compared with the lower probability level, the individual is more inclined to ambiguity avoidance under the higher probability level
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