Choice Dilemma Questionnaire Research Articles

Impact of collaborative, entrepreneurship education on the financial risk taken by university students

Based on the definition of entrepreneurship, entrepreneurs can be considered as risk-takers. The literature contains conflicting theories as to whether risk-taking can be influenced by external factors. The current paper investigates the effect of entrepreneurship education and collaborative environment on financial risk-taking behavior among university-age young people. To this end, an online survey was conducted involving 510 participants and various statistical tests were utilized to test the research hypothesis. To measure financial risk-taking propensity, the Choice Dilemma Questionnaire methodology was implemented. The results of the analysis reveal that both the level of entrepreneurship education and a collaborative environment increase financial risk-taking. Moreover, multiple linear regression methodology was used to capture the significant factors that influence financial risk-taking when investing alone and investing in a collaborative environment. As a policy recommendation, the authors suggest that an entrepreneurship training curriculum should be developed that incorporates the various activities and elements of a collaborative environment.

Group Polarization in Disciplinary Panel’s Decisions Among Teachers: An Analysis of Schools’ Affiliation Differences

The study examined group polarization in decision-making among teacher-members of disciplinary panels based on secondary school affiliations in Kenya. The pre-post with Nonequivalent Control Group design was used. A sample size comprised of 78 teacher-members of disciplinary panels in 10 secondary schools. Group polarization was measured with decision tasks from the Modified Choice Dilemma Questionnaire (Kogan & Wallach, 1964). A multivariate test was used to analyze the data. Findings indicated significant differences in group polarization in decisions among teachers on the bases of school affiliations were reported on the effect of behaviour problem regarding disciplinary tone. This finding implied that school affiliations play an important role in management of students’ behavior problems. The study recommended that schools should provide training for school disciplinary panel members before they take up their roles in student behavior management.

Age differences in risk taking: now you see them, now you don’t

ABSTRACT Older age has often, but not always, been associated with less risk taking. Inconsistencies may be due to diversity in the risk-taking measures used and/or individual differences in cognitive abilities. We investigated the robustness of age differences in risk taking across three measures, and tested whether age differences in risk taking remained after accounting for cognitive abilities. Younger (aged 25–36) and older (aged 60+) adults completed behavioral (i.e., Balloon Analogue Risk Task, BART) and self-report (i.e., framing tasks and Choice Dilemmas Questionnaire) measures of risk, as well as several measures of cognitive ability (i.e., analytic thinking, numeracy, processing speed, memory, and attention). Older adults showed significantly less risk taking than younger adults on the behavioral measure of risk, but not on the two self-report measures. Older adults also had significantly lower analytic thinking, slower processing speed, and worse executive control compared to younger adults. Less risk taking on the BART was associated with lower analytic thinking and numeracy, slower processing speed, and worse shifting of attention. Age differences in risk taking on the BART remained after accounting for older adults’ lower scores on tests of cognitive abilities. Implications for measuring age differences in risk taking are discussed.

Now You See Them, Now You Don’t: Age Differences in Risk Aversion

Older age has often, but not always, been associated with greater risk aversion. Some have suggested that age differences in risk may reflect age-related declines in cognitive abilities. This study investigated the robustness of age differences in risk aversion across three different risk-taking measures, after controlling for cognitive abilities. Community-dwelling younger (n = 75; 25-36 years, M age = 29.01) and older (n = 74; 60-90 years, M age = 69.11) adults completed self-report and behavioral measures of risk aversion and several measures of cognitive abilities. Results showed that older adults reported significantly greater risk aversion than young adults on the behavioral measure of risk (Balloon Analogue Risk Task, BART), but not on the self-report measures (Framing Task and Choice Dilemmas Questionnaire). Greater risk aversion on BART was significantly associated with lower analytic thinking, slower processing speed, and worse shifting of attention. Therefore, we tested the relation between age and risk aversion on the BART while controlling for these three cognitive abilities. Age differences in risk aversion remained significant even after accounting for cognitive abilities. Our results suggest that the lack of consistent age differences in risk aversion in the literature may at least partly be due to measurement differences, which raises concerns about the construct validity of these measures of risk aversion. Moreover, cognitive decline may not explain age differences in risk. Further research is needed to understand factors that dampen and heighten risk aversion in people of diverse ages.

Choice Shifts in School Disciplinary Decision Making: Analysis of Age Differences of Panel Members

Background:Decision making is critical to each organization and it requires the ability to find a possible balance between risky and cautious decisions. The Kenyan secondary schools are mandated by the Ministry of Education to manage students’ misbehaviors by the disciplinary panels.Aim:The present study investigated the choice shifts in disciplinary decision making in Kenyan secondary schools based on age groups of the panel members.Methods:The Quasi-Experimental Pretest-Posttest Design was adopted. The study targeted 360 teachers- members of disciplinary panels in 45 secondary schools in the Rongo sub-county of Kenya. A sample size of 78 members of disciplinary panels in 10 secondary schools was involved. This was 22% of the target population of members of disciplinary panels in the Rongo district. The choice shift in decisions was ascertained using the Modified Choice Dilemma Questionnaire. The validity of the tools was ensured by the expert judgment by two Kenyan psychologists, while the reliability was determined using the internal consistency method and an alpha of 0.695 was reported.Results:The results of the Multivariate Analysis Of Variance indicated that there were differences in choice shifts from the pre to post-disciplinary hearing decisions among the members of selected school disciplinary panels on the basis of their age groups (Wilk’s Lambda (λ) test:F(12, 188) = 7.40,P =0.000,P< 0.05).Conclusion:It was concluded that the age of the members of disciplinary panels influenced the nature of choice shifts in decisions. It was recommended that principals should ensure that the membership of school disciplinary panels is broad-based.

In the Heat and Noise of the Moment: Effects on Risky Decision Making

Two studies, comprising 128 participants, were conducted to examine possible detrimental effects of noise and moderate heat stress on decision making. Three tasks involving risky decisions were used: a lottery choice task, the Balloon Analogue Risk Task, and two risk scenario questionnaires. Study 1 ( n = 97) involved three noise stressors presented at 60dB(A) and a quiet condition. Compared with all other conditions, a radio podcast about the jubilee of museums caused a significant increase in risk aversion in the Choice Dilemma Questionnaire task. Study 2 ( n = 31) compared two groups that completed the aforementioned tasks either in a warm (≥ 30°C) or neutral (≤ 25°C) ambient temperature condition. Participants made significantly riskier decisions in the warm ambient temperature condition in all tasks except the lottery task. Effects were more pronounced among female subjects. Especially elevated ambient temperatures should, therefore, be monitored in office environments to prevent impairments of decision making.

Factors and Dimensions Influencing Risky and Cautious Decisions: A Study of Selected Kenyan Secondary School Disciplinary Panels

The study investigated selected factors influencing risky and cautious decisions on student behavior problems during disciplinary hearing. The study adopted mixed methods approach. The participants comprised 78 teacher-members of selected school disciplinary panels. Quantitative data was collected using the Modified Choice Dilemma Questionnaire while qualitative data was collected by using the interview protocol. Quantitative data was analyzed by inferential statistics while qualitative data was analyzed by thematic framework. The findings indicated that factors such as gender, age and school categories of panel members influenced risky and cautious disciplinary decisions. Moreover, other factors such as behaviour characteristics of the offender (ß = 1.143), the type of the problem (ß = 0.746), the effects of the problem on disciplinary tone of the school (ß = 0.655) also influenced disciplinary decisions. The study recommended that members of school disciplinary panels should be sensitized on their role of fostering positive and healthy behaviours in students. Moreover, there is need to give consideration to composition of broad based school disciplinary panels. DOI: 10.5901/mjss.2014.v5n10p393

Individual differences in a within-subjects risky-choice framing study

A within-subjects study investigated several different risky-choice framing problems patterned after Kahneman and Tversky’s classic economic game, the Asian Disease problem, but included variations to increase generality. Risk-style and thinking-style were utilized to predict individual differences in response to the framing problems. Significant framing effects were found at both the item and composite level. Individual difference effects were rare when framing was strictly defined as a preference reversal. When a more encompassing preference shift defined framing, risk-averse individuals (measured by the Choice Dilemmas Questionnaire) and those scoring high on experiential (heuristic) thinking were more likely to show a framing effect. Discussion focuses on the meaning of these results in terms of individual susceptibility to framing.

Does mood state change risk taking tendency in older adults?

No study has been conducted to evaluate the influences of age differences on specific moods for risk taking tendencies. This study examined the patterns of risk taking tendencies among younger and older persons in 3 transient affective states: positive, neutral, and negative moods. By means of viewing happy, neutral, or sad movie clips, participants were induced to the respective mood. Risk taking tendencies were measured with decision tasks modified from the Choice Dilemmas Questionnaire (N. Kogan & M. A. Wallach, 1964). Consistent with the affect infusion model (J. P. Forgas, 1995), risk taking tendency was greater for those individuals who were in a happy mood than for those who were in a sad mood, for both young and older participants. However, an asymmetrical effect of positive and negative mood on risk taking tendency was identified among both the young and older participants, but in opposite directions. These results are consistent with the predictions of the negativity bias and the positivity effect found in young and older adults, respectively, and are interpreted via information processing and motivation effects of mood on the decision maker.

Evaluation of Entrepreneurial Risk-Taking using Magnitude of Loss Scale

The importance of risk-taking in business ventures has been emphasised by many. Attempts to distinguish entrepreneurs on their risk-taking propensity have produced conflicting results. Data on two measures of risk-taking propensity were collected from entrepreneurs, prospective entrepreneurs and non-entrepreneur others. While the groups did not differ significantly on risk-taking propensity as measured by the Choice Dilemma Questionnaire, entrepreneurs and prospective entrepreneurs differed significantly from others on the Magnitude of Loss Questionnaire. Similarly, entrepreneurial aspirants differed significantly from the nonentrepreneur group. These results highlight the significance of loss, an important aspect in risk-taking, which is often ignored in entrepreneurial and managerial studies. The riskiness in business ventures which has been the main stumbling block for many is not the low probability of success but the high stakes involved in entrepreneurship.

The stability of risk level across various decision situations

Few would dispute that we are living at a time of high anxiety and uncertainty. That's why in recent years, social scientific interest in risk has increased enormously. The main theory that explains human decision processes in the face of risk is Prospect theory of D. Kahneman and A. Tversky. It emphasizes the impact of situation upon human risk taking. The contradictory results from the investigations in the perspective of human trait theory give the challenge to the prospect theory and raise the assumption that people have the personality trait - propensity to risk that could explain at least the part of human risky decision making and risk taking behavior. The present investigation aims to find if the decision risk level is stable across various decision situations and could be the index of human propensity to risk. The subjects were 262 students from Vytautas Magnus University and Vilnius University in Lithuania; they completed Choice Dilemma Questionnaire (Kogan, Wallach, 1964) and The Scale of General Decision Making Style (Scott, Bruce, 1995). The results showed that correlation coefficients among risk levels in various decision situations were high and significant. So risk level was stable across the situations and could be related to the personality disposition - propensity to risk. The implications of results and limitations of the study were discussed.

Could mood state affect risk-taking decisions?

Background: Depressed patients are advised by clinicians to avoid making critical life decisions because their decision-making process might be influenced by their pathological mood states. In order to provide empirical support for this practice, we examined the influence of different mood states on risk-taking tendencies that govern one’s decision during critical life decisions. Method: By means of viewing a happy, neutral or sad movie clip, participants were induced to a respective mood. Risk-taking tendencies were then measured with decision tasks modified from the Choice Dilemmas Questionnaire (Kogan N., Wallach, M.A., 1964. Risk Taking: A Study in Cognition and Personality, Holt, New York). Results: The findings (SS=54) indicated varying risk-taking tendencies in different mood states: individuals in induced depress mood were significantly more conservative in taking risk than those who were in neutral mood, whilst people in induced elated mood did not differ significantly from those in neutral mood. Correlation between mood-ratings with risk-taking tendency was positive ( r=0.319, P<0.05). Conclusions: People in induced depress mood would have a lower willingness to take risk than people in neutral and in positive mood. The manner in which decisions were influenced by negative mood was discussed. The asymmetry of influence of different mood states on risk-taking decisions was also discussed.

The relationship between risky decision making and situational factors

Recent social theory proposes the idea that the risk society is developing, so the problems of risky decision making are more and more urgent. There are a lot of investigations in the field of situational correlates of risky decision making (e. g., problem framing, task difficulty, etc.). But there is not clear if the problem content has the impact upon the propensity to make risky decisions. The goal of this work was to test hypothesis that people are more prone to risky decision making in health and monetary risk area than in social and ethical risk area. Participants were 602 subjects (age 18-60; 262 students and 340 workers). They completed Kogan and Wallach's (1964, 1967) Choice Dilemma Questionnaire (CDQ), where they had to choose the appropriate for them probability for risky decision in twelve situations (from monetary, health, social and ethical risk areas). The results showed that people make the most risky decisions in health risk area and the safest decisions in ethical risk area. But the relationship between risk area and risky decision making may be mediated by individual factors (e. g., gender and age).

Computer mediated discussion and attitude polarization

This study examined the hypothesis that computer mediated discussions lead to more extreme decisions than face-to-face (FTF) meeting. Kiesler, Siegel, & McGuire (1984) claimed that computer mediated communication (CMC) tended to be relatively uninhibited, as seen in 'flaming', and that group decisions under CMC using Choice Dilemma Questionnaire tended to be more extreme and riskier than FTF meetings. However, for the same reason, CMC discussions on controversial social issues for which participants initially hold strongly opposing views, might be less likely to reach a consensus, and no polarization should occur. Fifteen 4-member groups discussed a controversial social issue under one of three conditions: FTF, CMC, and partition. After discussion, participants rated their position as a group on a 9-point bipolar scale ranging from strong disagreement to strong agreement. A stronger polarization effect was observed for FTF groups than those where members were separated with partitions. However, no extreme shift from their original, individual positions was found for CMC participants. There results were discussed in terms of 'expertise and status equalization' and 'absence of social context cues' under CMC.

AN EVALUATION OF THE CHOICE DILEMMA QUESTIONNAIRE AS A MEASURE OF RISK-TAKING PROPENSITY

The Choice Dilemma Questionnaire (CDQ) has been extensively used in risk taking studies due to its ease of administration and its ability to consistently produce risky shifts. However despite its wide use, it has been subject to a number of criticisms. This study attempts to see if the CDQ score is factorially pure or if it is made up of sub- scales. Responses from two hundred and two students were factor analysed and it was found that four factors emerged. The study concludes that risk-taking is a multidimensional concept and one needs to take into account the different types of risks if we are to use risk-taking propensity as a personality measure while studying individual differences.

A comparison of values and attitudes toward risk of Greek and American Entrepreneurs

This study looks at similarities and differences between entrepreneurs in two different cultures, the United States and Greece. Values and risk assessment are key ingredients in the planning process. If they differ across countries, American research on decision making will have little applicability. Entrepreneurs in Greece and the United States were compared using the Allport-Vernon-Lindzey Study of Values and the Choice Dilemmas Questionnaire. Our findings indicate strong similarities between the Greek and American Entrepreneurs.

Choice shift and group polarization: An analysis of the status of arguments and social decision schemes.

Two Choice Dilemma Questionnaire items were used to investigate the influence of persuasive arguments and social decision schemes on group decisions. Furthermore, the predictions of the persuasive arguments theory on the polarization of individual preferences were tested. Ss were given lists of persuasive arguments and a second individual decision was requested before the group discussion. The reduced paired comparison median model showed the best fit and the highest hit rate in predicting the group decisions.

Choice shift and group polarization: An analysis of the status of arguments and social decision schemes.

Two Choice Dilemma Questionnaire items were used to investigate the influence of persuasive arguments and social decision schemes on group decisions. Furthermore, the predictions of the persuasive arguments theory on the polarization of individual preferences were tested. Ss were given lists of persuasive arguments and a second individual decision was requested before the group discussion. The reduced paired comparison median model showed the best fit and the highest hit rate in predicting the group decisions.

Factors Affecting Censorship by Canadian Librarians

ABSTRACT This study investigated the risk propensity and self-actualization of public librarians with regard to censorship behavior. A sample of 169 librarians from the province of Ontario responded to a 124-item mail questionnaire that incorporated a number of previously validated instruments, including the Adorno F Scale (Adorno, Frenkel-Brunswick, Levinson, & Sanford, 1950), the Short Index of Self-Actualization (Jones & Crandall, 1986), and the Choice Dilemmas Questionnaire (Kogan & Wallach, 1964). Analyses indicated that the librarians were generally liberal in attitude but conservative in behavior with respect to censorship and book selection. Moreover, they appear to have been averse to taking risks and not selfactualized. These results are discussed in terms of cognitive dissonance theory and risk propensity theory.

Influence of leadership processes on group polarization

AbstractThis research attempted to examine underlying processes of group polarization under leadership conditions. One hundred and twenty‐two subjects formed in groups of four and five members answered to the Choice Dilemma Questionnaire first on an individual basis and then after group discussion. Experimental conditions were manipulated through different rules of group discussion and types of appointed leaders. It was found that leadership is associated both with group polarization and with group depolarization but whether the group polarizes or depolarizes is determined by the explicit or implicit group rules which act as a systemic decisional structure.