High Risk Preference Research Articles

The role of behavioral decision-making in panic buying events during COVID-19: From the perspective of an evolutionary game based on prospect theory

Sudden public health crises such as the COVID-19 pandemic have triggered widespread panic buying incidents globally, causing disruptions in commodity markets characterized by imbalances between supply and demand. This has posed a serious threat to social stability. During sudden public health events, panic buying typically complicates epidemic prevention and control efforts, leading to adverse consequences such as resource wastage, supply-demand imbalances, and market failures, which pose a threat to social stability and economic development. The progression of panic buying is significantly influenced by the actions and choices of both the public and local authorities. Therefore, studying the impact of the behavioral decisions made by the public and local governments plays a pivotal role in the evolution of such events. Building upon this premise, this paper studies the role of behavioral decisions in the COVID-19 panic buying event from the perspective of an evolutionary game. First, the public’s attitude toward the development of the event is divided into two categories: those with a negative attitude and those with a positive attitude. At the same time, the concepts of mental benefits and mental costs are introduced and quantified, serving as key factors in public decision-making. Second, prospect theory is used to elucidate the risk preferences and loss aversion of decision-makers. An evolutionary game model is constructed with the public and local governments as the main entities based on prospect theory. The replication dynamic equation is constructed using the benefit perception matrix, and the equilibrium point and stability conditions of the model are deduced. Third, the impact of participants' behavioral decisions during the panic buying event on the event’s evolution process is discussed through numerical simulation analysis. The results show that (1) in the context of sudden public health emergencies, material demand is the primary cause of public panic buying behavior. Postpanic buying events, such behavior is influenced primarily by the proportion of individuals with negative attitudes within the population. Local governments should release positive information regarding supplies in a timely manner during the nascent stage of panic buying events and actively monitor the proportion of individuals with negative attitudes. (2) There is a positive correlation between risk preference and public panic buying behavior, whereas loss aversion has the opposite effect. The spiritual benefits perceived by the public from engaging in panic buying increase with higher risk preference, whereas perceived costs related to health issues increase with deeper levels of loss aversion. (3) When response costs exceed what local governments are willing to bear, reputation gains and losses play a crucial role in their decision-making. The probability of local governments adopting responsive strategies increases with their emphasis on reputation and aversion to reputation losses. Higher-level governments should enhance the dissemination of positive and negative examples of government handling, enhancing local governments' sense of responsibility and honor to improve their perception of reputation gains and losses, thereby encouraging proactive management of panic buying events.

Risk-Taking Is Associated with Decreased Subjective Value Signals and Increased Prediction Error Signals in the Hot Columbia Card Task.

It remains a pressing concern to understand how neural computations relate to risky decisions. However, most observations of brain-behavior relationships in the risk-taking domain lack a rigorous computational basis or fail to emulate of the dynamic, sequential nature of real-life risky decision-making. Recent advances emphasize the role of neural prediction error (PE) signals. We modeled, according to prospect theory, the choices of n = 43 human participants (33 females, 10 males) performing an EEG version of the hot Columbia Card Task, featuring rounds of sequential decisions between stopping (safe option) and continuing with increasing odds of a high loss (risky option). Single-trial regression EEG analyses yielded a subjective value signal at centroparietal (300-700 ms) and frontocentral (>800 ms) electrodes and in the delta band, as well as PE signals tied to the feedback-related negativity, P3a, and P3b, and in the theta band. Higher risk preference (total number of risky choices) was linked to attenuated subjective value signals but increased PE signals. Higher P3-like activity associated with the most positive PE in each round predicted stopping in the present round but not risk-taking in the subsequent round. Our findings indicate that decreased representation of decision values and increased sensitivity to winning despite low odds (positive PE) facilitate risky choices at the subject level. Strong neural responses when gains are least expected (the most positive PE on each round) adaptively contribute to safer choices at the trial-by-trial level but do not affect risky choice at the round-by-round level.

How does carbon pressure affect corporate risk-taking? Evidence from Chinese energy firms

ABSTRACT Different regions face heterogeneous carbon pressure, but the nexus of carbon pressure and corporate risk behaviour is less explored. Based on annual data from Chinese A-share listed energy firms over the time period 2008–2019, this study shows that carbon pressure can significantly promote the risk-taking of energy firms. Furthermore, government subsidies and tax burdens are essential factors in adjusting the effects of carbon pressure on energy firms’ risk-taking. We find that energy firms with high government subsidies and low tax burdens have a higher risk preference when faced with carbon pressure. In addition, the positive relationship between carbon pressure and risk-taking is stronger and more significant for energy firms from the eastern region and for those that are from non-high- and new-technology industries and non-new energy industries. The above findings provide a theoretical basis and practical reference for governments to adopt effective policies to promote energy firms’ sustainable development and for energy firms to devise smarter investment strategies when facing carbon pressure. Our research offers new insights into how carbon pressure influences energy firm behaviour at the micro-level in the context of climate change.

Risk preference and relative poverty: An analysis based on the data of China Family Panel Studies

It is posited that solving the problem of relative poverty (RP) first requires the identification of its cause. We use data from China Family Panel Studies to examine the impact of risk preference on RP of urban and rural families in China and the underlying mechanism. This paper contributes to the existing body of evidence on the determinants of RP. The results show that a high degree of risk preference is conducive to alleviating families' RP. The effect is still significant after dealing with potential endogeneity through instrumental variables. Furthermore, the effect is more obvious among health insurance participation families, endowment insurance participation families, families with low life satisfaction, non-poor families, especially middle-income families, urban families, male-headed families and families in the West in China. Further analysis suggests that risk preference affects RP by promoting entrepreneurship and credit in urban and rural families. Families with a higher risk preference are more likely to engage in entrepreneurship and utilize credit, which in turn helps alleviate their RP. Overall, this paper provides new empirical evidence for understanding the mechanism of risk preference influencing RP.

Alcohol consumption patterns and adherence to the Mediterranean diet in the adult population of Spain

PurposeThe objective is to evaluate the association between various indicators of alcohol consumption and the degree of adherence to the Mediterranean diet among the Spanish adult population.MethodsA cross-sectional study including 44,834 participants ≥ 15 years of age from the 2017 National Health Survey and the 2020 European Health Survey in Spain. Alcohol patterns were defined based on (1) average intake: individuals were classified as low risk (1–20 g/day in men and 1–10 g/day in women) and high risk (> 20 g/day in men or > 10 g/day in women), (2) binge drinking, and (3) alcoholic beverage preference. Non-adherence to the Mediterranean diet was defined as scoring < 7 points on an adapted Mediterranean Diet Adherence Screener index (range 0–10). Odds ratios (OR) were estimated using logistic regression models adjusted for relevant covariates.ResultsCompared to non-drinkers, low and high-risk drinkers were more likely to report non-adherence to the Mediterranean diet: ORs 1.35 (95% CI 1.23; 1.49) and 1.54 (95% CI 1.34; 1.76), respectively. Similarly, reports of binge drinking less than once a month was associated with higher likelihood of non-adherence (OR 1.17; 95% CI 1.04; 1.31). Individuals reporting no preference for a specific beverage and those with a preference for beer or for spirits had lower adherence: ORs 1.18 (95% CI 1.05; 1.33), 1.31 (95% CI 1.17; 1.46), and 1.72 (95% CI 1.17; 2.54), respectively, while a preference for wine showed no association (OR 1.01; 95% CI 0.90; 1.13).ConclusionAlcohol consumption, even in low amounts, is associated with lower adherence to the Mediterranean diet. Therefore, alcoholic beverages should not be included in measures that define the Mediterranean diet.

AN EMPIRICAL EXAMINATION OF MODERATING INFLUENCES OF ORGANIZATIONAL SLACK ON THE ASSOCIATION BETWEEN TMT CHARACTERISTICS AND THEIR FIRMS’ DEGREE OF SEARCH RISK-TAKING

One remaining challenge in research on variable risk-taking by organizations is to reconcile mutually contradictory arguments on associations between organisational slack and organisational degree of risk-taking. We focus on moderating (rather than moderated) influences of organisational slack to argue that slack governs the strength of the association by unleashing the discretion of top management teams (TMTs), while the direction of the association depends on the characteristics of TMTs. Accordingly, as slack increases, organizations led by TMTs characterised by high-risk preference pursue risky search initiatives more aggressively, while decisions by TMTs characterised with low-risk preference grow more risk-avoiding. Our empirical examination of the Japanese electronic appliances industry from 2006 to 2017 empirically supports the argument with endogeneity robust inference on the coefficient of the slack variable. Organisational slack alleviates concerns over constraints on decisions, thereby unleashing discretion to pursue as well as to avoid search risk-taking.

Relationship between socio economic profiles of dairy farmers with extent of adoption of improved dairy farming practices in Kumaon division of Uttarakhand.

Livestock sector contributes 4.11 per cent GDP. According to United States Department Agriculture 2018, 80 million households were engaged in dairy farming and majority of them are small scale, marginal farmers. The dairy farming has been considered as a potential means of employment and socio-economic development for people in rural areas. Uttarakhand trails behind from highest milk producing states due to less growth rate in milk production focused should be given to the improved dairy farming to increase milk production and development of dairy industry. The present study was conducted in Kumaon division of Uttarakhand state to find out the relationship between socio economic profile of dairy farmers with their extent of adoption of improved dairy farming practices. Udham Singh Nagar district was selected as for the study. Total 100 respondents from these villages were selected. It was resulted that respondents with higher education, higher land holdings, higher dairy farming experience, higher annual income, higher milk production higher social participation, higher risk preference and higher economic motivation tends to have more extent of adoption of improved dairy farming practices as they are found to have a significant and positive relationship with extent of adoption of dairy farming practices.

Does SME’s financing decisions follow pecking order pattern? The role of financial literacy, risk preference, and home bias in SME financing decisions

This paper aims to explore the role of financial literacy, risk preference, and home bias in Minangkabau ethnic SME financing decisions, and whether their financing pattern follow the pecking order theory. The theoretical framework model was developed to determine the impact of financial literacy, risk preference, and home bias on the financing decisions of SMEs. The study applied the SEM-PLS method in testing the model. Data collection was carried out through online and offline survey techniques with a sample of 623 SMEs. The results reveal that home bias and risk preference have a negative direct effect on financing decision. Home bias also has a direct positive influence on risk preference. Financial literacy can minimize home bias from negative to positive toward financing decision. However, financial literacy does not have a direct effect on the financing decisions and does not have a significant direct influence on risk preference. Most SMEs have a low level of financial literacy, a high tendency for home bias and a high-risk preference. Financial literacy has strong positive moderation effect on the influence of home bias toward financing decision. Home bias make SME financing decision does not follow pecking order pattern. As SMEs financial literacy level is still very low, thus it is important for financial institutions to educate SMEs by providing several trainings about financial matters. The findings suggest to improve the financial literacy of SMEs informal association groups in order to help them reducing their home bias tendency. This study seeks to explore the pecking order pattern in financing decisions of SMEs.

Decision-making biases in suicide attempters with major depressive disorder: A computational modeling study using the balloon analog risk task (BART).

In the last decade, suicidality has been increasingly theorized as a distinct phenomenon from major depressive disorder (MDD), with unique psychological and neural mechanisms, rather than being mostly a severe symptom of MDD. Although decision-making biases have been widely reported in suicide attempters with MDD, little is known regarding what components of these biases can be distinguished from depressiveness itself. Ninety-three patients with current MDD(40 with suicide attempts [SA group]and 53 without suicide attempts [NS group])and 65 healthy controls (HCs) completed psychometric assessments and the balloon analog risk task (BART). To analyze and compare decision-making components among the three groups, we applied a five-parameter Bayesian computational modeling. Psychological assessments showed that the SA group had greater suicidal ideation and psychological pain avoidance than the NS group. Computational modeling showed that both MDD groups had higher risk preference and lower ability to learn and adapt from within-task observations than HCs, without differences between the SA and NS patient groups. The SA group also had higher loss aversion than the NS and HC groups, which had similar loss aversion. Our BART and computational modeling findings suggest that psychological pain avoidance and loss aversion may be important suicide risk factor that are distinguishable from depression illness itself.

Testing of a Volatility-Based Trading Strategy Using Behavioral Modified Asset Allocation

The performance of volatility-based trading strategies depends, among other factors, on the asset selection and the associated risk preference. For this study, we conducted a representative survey for Germany to determine the asset preferences of individuals with lower-risk and higher-risk preference. These two types of behavioral modified asset allocations (lower-risk and higher-risk) form the basis for testing our volatility-based trading strategy with different risk and loss levels. The tests are based on historical asset price data over a period of nearly the last eleven years. The goal was to historically outperform the broad market by changing various factors, such as the initial asset allocation, the asset reallocation, and the risk and loss level underlying the trading strategy. We achieve this by using the riskier initial asset allocation and applying our trading strategy with a risk and loss level of 10% each. In this case, a historical return of 326% could have been achieved with our trading strategy over the period under review.

Analysis of the Impacts of Health Cost and Risk Preference on Farmers’ Protective Behavior of Pesticide Application Based on the Autoregressive Threshold Model: A Case Study of Wuhu City in China

This paper is aimed at investigating the impacts of health cost and risk preference on farmers’ protective behavior of pesticide in a case study of Wuhu city in China. Based on the field survey data from 523 farmers in the main grain-producing areas, the cost of illness (COI) method was employed to quantitatively measure the health cost (HC) of pesticide application, the Likert scale was used to measure the risk preference (RP) of pesticide applicators, and the autoregressive threshold model was used to test the impact of health cost and risk preference on farmers’ protection behavior in the process of pesticide application. The key findings of this research case study reveal that when the health cost and risk preference are both lower than the critical value ( HC ≤ 107.235 , RP ≤ 3 ), the health cost does not affect improving the protection level of farmers in the process of pesticide application. However, when the risk preference exceeds the critical value ( RP &gt; 3 ), and the health cost exceeds a certain critical value ( HC &gt; 107.235 ), they have a significant positive effect on improving the protection level of farmers in the process of pesticide application. High health cost combines with higher risk preference ( HC &gt; 107.235 , RP &gt; 3 ) which can significantly improve the protection level of farmers in the process of pesticide application.

An Inverted U-shaped Relationship? The Impact of Government Subsidies on the R&amp;D Investment of New Energy Companies: Economic Policy Uncertainty and Enterprise Heterogeneity Perspectives

The government is actively pursuing a financial subsidy policy to assist new energy companies in strengthening their ability to innovate independently, but the impact of government subsidies has been contentious. Using 142 new energy listed companies in Shanghai and Shenzhen A-stocks from 2012 to 2018, a fixed-effect model was used to examine the impact of government subsidies on new energy companies’ R&amp;amp;D investment, as well as the changes in the relationship between the two under conditions of economic policy uncertainty and enterprise heterogeneity. The results indicate that government subsidies have an inverted U-shaped effect on enterprise R&amp;amp;D investment; that is, while appropriate subsidies promote enterprise R&amp;amp;D investment, excessive subsidies suffocate other funds invested by the company in R&amp;amp;D and exacerbate the company’s proclivity to invest in fixed assets. Furthermore, economic policy uncertainty has a more substantial negative adjustment effect on the relationship between government subsidies and corporate R&amp;amp;D investment than fixed-asset investment. Additionally, research indicates that in China’s eastern coastal regions, the impact of government subsidies on R&amp;amp;D investment is more remarkable for high-risk preference enterprises and non-state-owned enterprises than in the central and western regions, where the negative adjustment effect of economic policy uncertainty is more remarkable for low-risk-preference and non-state-owned enterprises. It is recommended that government departments ensure economic policy stability and continuity and that subsidy selection be more targeted and precise in determining subsidy funds.

Evolutionary Game Analysis of Green Technology Innovation Behaviour for Enterprises from the Perspective of Prospect Theory

Boosting green technology innovation of enterprise is the key to achieving a win‐win situation for both environmental performance and economic performance. However, some Chinese enterprises still have hesitations and misgivings as to whether they should adopt green technology. Considering the uncertainty of the innovation and the irrational psychological factors of decision makers, the purpose of this paper is to analyse the driving mechanisms and the long‐term behaviour of enterprises green technology innovation, as well as to explore what preconditions are required for enterprises to adopt green technology innovation. The methods are prospect theory and evolutionary games. This paper first calculates the equilibrium stability and evolutionary stability strategies of the enterprise green technology innovation system and then simulates the effect of subjective gains and losses values and other psychological parameters in the prospect editing and evaluation stage. Results show that increase in subjective gain and decrease in reference points and subjective spill benefit will motivate enterprises to adopt green technology innovation in the prospect editing stage; higher risk preference and lower loss aversion will increase enterprises’ motivation for green technology innovation in the prospect evaluation stage. Besides, we find that enterprise decisions are influenced by risk perception and loss aversion rather than just the magnitude of the benefits and cost. Small‐ and medium‐sized enterprises are more likely to turn to green technology innovation than large enterprises under the same level of risk preference and loss aversion. Finally, some suggestions are put forward for the government to encourage enterprises to adopt green technology innovation. This paper can provide a reference for theoretical and practical research on evolutionary game and prospect theory on green technology innovation of enterprises.

Are mindful people more risk-averse? Effects of trait and state mindfulness on risk preference in decision-making.

The current research investigated whether various aspects of mindfulness were differentially associated with risk preference in decision-making. In Studies 1 and 2, attention and present-focus aspects of trait mindfulness were associated with lower risk preference in making monetary gains. In Study 3, participants completed either a mindfulness training or listened to a comparable control recording. Compared to the control condition, subjects in the mindfulness condition were more risk-averse in making choices for monetary gains. The attention and present-focus aspects of state mindfulness mediated this connection. Study 4 introduced a loss framing, where attention and present-focus no longer associated with lower risk preference, but awareness and acceptance aspects of trait mindfulness associated with higher risk preference in avoiding monetary losses. The results suggest that different aspects of mindfulness have potential for mitigating risk preference, but such potential is limited depending on the framing of a decision context.

Financing the newsvendor with preferential credit: bank vs. manufacturer

This paper examines how preferential credit based on retailers’ credit line impacts on capital-constraint retailer’s operational decisions. We consider a condition of loan competition when banks and manufacturers offer preferential credit to capital-constraint retailers in the newsvendor model. Different credit lines and discounted rates of preferential credit mainly involve in retailers’ exogenous collateral and risk preference of banks and manufacturers in our model. We investigate impacts of bank financing, trade credit, and portfolio credit (financing from both bank credit and trade credit with different ratios) on retailer’s inventory decision with different cases that the retailer’s financing amounts exceed credit line or not. We derive the equilibrium wholesale price, expected sale price, and order quantity when retailers face with different conditions of collaterals and institutes’ risk preferences facing with market risk. A debt-financed retailer favours items with trade credit compared to bank financing, especially in conditions when its sourcing demand is great and when it finances from high-risk preference institutes. Retailer prefers to using the loan with high trade credit ratio when he opts portfolio credit conditions.

671 SENTINEL LYMPH NODE SAMPLING AND EMPIRIC CHEMORADIATION AS AN ORGAN SPARING APPROACH AFTER ENDOSCOPIC RESECTION OF INTERMEDIATE RISK EARLY FOREGUT CANCERS: A US PILOT STUDY

For low risk early foregut cancers, endoscopic submucosal dissection (ESD) is curative. For high-risk cancers, esophagectomy/gastrectomy is required for definitive staging and treatment. For ‘intermediate risk’ patients at ∼5-20% risk of lymph node (LN) metastasis, however, local resection in conjunction with systemic therapy could rival radical surgery. In this context, after local resection, Sentinel LN sampling (SLNS) may offer added value compared to a ‘wait and watch’ or ‘empiric chemotherapy’ approach. SLNS has not been used in clinical practice after ESD of T1 Barrett’s cancers. For gastric cancers it represents an emerging technique limited to Asia. We report the 1st US pilot study on SLNS after ESD for these foregut cancers. Patients who had ESD for T1 Barrett’s or gastric carcinomas and met both criteria below were offered SLNS: 1) ESD pathology with high-risk T1 cancer (deep invasion; lymhovascular invasion, G3,4 grade). 2) Patient with high surgical risk or refusing surgery. Indocyanine green (ICG) was injected endoscopically in the submucosa around the ESD site intra-operatively and fluorescent LNs were harvested including paraesophageal/EGJ stations in Barrett’s patients. Pts with positive SLNs and high-risk patients with negative SLNs were offered adjuvant therapy. 10 pts received ESD with SLNS. Mean age 70 (50-79). 9 males. The ASA class was 3 in 8 and 2 in 2 patients. There were 7 EGJ Barrett’s cancers (5 with T1a m3 invasion as the only risk factor) and 3 gastric cancers. We consider Barrett’s T1a m3 carcinomas as high-risk based on reports of LN involvement in up to 5%. Our finding of a positive SLN in 1/5 of these patients supports this. Median cancer size 1.3 cm (0.5-3.5). Grade: G1 in 4 patients, G2 in 5 and G4 in 1. T stage was T1a m3 in 5 and T1b in 5. R0 ESD achieved in 8 patients. SLNS was successful in all patients and returned a median of 9 LNs (4-20). 9 pts discharged on the same day and 1 on the next day. No significant adverse events. 4 patients had positive SLNs (1 N1, 2 N2, and 1 N3) and received adjuvant chemotherapy +/- radiation. Of the 6 N0 patients 1 received a 2nd ESD for indeterminate lateral margin and one with SM2 Barrett’s cancer and only 4 SLNs sampled was offered chemotherapy. After a median follow-up of 30 months (range 15-64), 8 patients including all 6 with negative SLNs were in remission. 2/4 patients with positive SLNs died, one from disseminated cancer, and one while in remission, from unrelated cause. This pilot study in patients with ESD of T1 Barrett’s and gastric cancers with high risk histologic features suggests potential feasibility of SLNS to risk-stratify and direct further treatment in patients in whom the standard of care of organ resection and lymphadenectomy is not possible due to high surgical risk or patient preference.

Research on the Impact of Heterogeneous Leverage Regulation on the Risks of China’s Commercial Banks

Based on the panel data of 75 commercial banks in China from 2008 to 2017, this paperuses four methods: mixed estimation, fixed effect, differential moment estimation and system momentestimation, to examine the impact of leverage ratio regulation on commercial bank risks and theinfluence of heterogeneity of commercial banks on regulatory effectiveness. We found that, first, thesupervision of leverage ratio effectively reduces the risks of Chinese commercial banks; second, theheterogeneity of Chinese commercial banks will lead to differences in regulatory effects. For banksthat are listed with lower capital levels and have higher risk preference, leverage ratio regulationhas a stronger inhibitory effect on bank risks. On this basis, it is recommended that the regulatorsimplement differentiated supervisory measures for commercial banks with different capital levels andrisk reference while strengthening supervision of leverage.

Stroke Risk in Patients With Atrial Fibrillation Undergoing Electrical Isolation of the Left Atrial Appendage

BackgroundLoss of contractility leading to stasis of blood flow following left atrial appendage electrical isolation (LAAEI) could lead to thrombus formation. ObjectivesThis study evaluated the incidence of thromboembolic events (TE) in post-LAAEI cases “on” and “off” oral anticoagulation (OAC). MethodsA total of 1,854 consecutive post-LAAEI patients with follow-up transesophageal echocardiography (TEE) performed in sinus rhythm at 6 months to assess left atrial appendage (LAA) function were included in this analysis. ResultsThe TEE at 6 months revealed preserved LAA velocity, contractility, and consistent A waves in 336 (18%) and abnormal parameters in the remaining 1,518 patients. In the post-ablation period, all 336 patients with preserved LAA function were off OAC. At long-term follow-up, patients with normal LAA function did not experience any stroke events. Of the 1,518 patients with abnormal LAA contractility, 1,086 remained on OAC, and the incidence of stroke/transient ischemic attack (TIA) in this population was 18 of 1,086 (1.7%), whereas the number of TE events in the off-OAC patients (n = 432) was 72 (16.7%); p < 0.001. Of the 90 patients with stroke, 84 received left atrial appendage occlusion (LAAO) devices. At median 12.4 months (interquartile range: 9.8 to 15.3 months) of device implantation, 2 (2.4%) patients were on OAC because of high stroke risk or personal preference, whereas 81 patients discontinued OAC after LAAO device implantation without any TE events. ConclusionsLAAEI is associated with a significant risk of stroke that can be effectively reduced by optimal uninterrupted OAC or LAAO devices.

Fuzzy Optimal Allocation Model for Task–Resource Assignment Problem in a Collaborative Logistics Network

Obtaining a multiresource allocation scheme for multitask influenced by uncertain factors is a critical problem in a collaborative logistics network. This paper presents an optimal allocation model of fuzzy resources for multistage random logistics tasks based on the six-point trapezoidal fuzzy number and the membership function. Besides, considering task demands and resource constraints, a new cost–time–quality multiobjective programming of N–N task–resource assignment is introduced, which can be divided into minimize total logistics cost and execution time, maximize total service quality. Furthermore, by setting the different simulation scenarios, the results show that if the decision maker has a higher risk preference and pursues the optimization of single or multiobjective, the higher degree membership and satisfaction function values can be obtained with a larger compensation coefficient. The allocation scheme of task–resource assignment generated by proposed model has a high global level of utilization efficiency, which can effectively utilize fuzzy resources in collaborative logistics network, and avoid resource shortage caused by the excessive occupation of local resources.

High Self-Control Reduces Risk Preference: The Role of Connectivity Between Right Orbitofrontal Cortex and Right Anterior Cingulate Cortex.

Risk preference, the preference for risky choices over safe alternatives, has a great impact on many fields, such as physical health, sexual safety and financial decision making. Ample behavioral research has attested that inadequate self-control can give rise to high risk preference. However, little is known about the neural substrates underlying the effect of self-control on risk preference. To address this issue, we combined voxel-based morphometry (VBM) with resting-state functional connectivity (RSFC) analyses to explore the neural basis underlying the effect of self-control on risk preference across two independent samples. In sample 1 (99 participants; 47 males; 20.37 ± 1.63 years), the behavioral results indicated that the scores of self-control were significantly and negatively correlated with risk preference (indexed by gambling rate). The VBM analyses demonstrated that the higher risk preference was correlated with smaller gray matter volumes in right orbitofrontal cortex (rOFC) and right posterior parietal cortex. In the independent sample 2 (80 participants; 33 males; 20.33 ± 1.83 years), the RSFC analyses ascertained that the functional connectivity of rOFC and right anterior cingulate cortex (rACC) was positively associated with risk preference. Furthermore, the mediation analysis identified that self-control mediated the impact of functional connectivity of rOFC-rACC on risk preference. These findings suggest the functional coupling between the rOFC and rACC might account for the association between self-control and risk preference. The present study extends our understanding on the relationship between self-control and risk preference, and reveals possible neural underpinnings underlying this association.