RISK TAKING IN MILITARY AND ECONOMIC DECISION MAKING: AN ANALYSIS VIA AN EXPERIMENTAL SIMULATION

Abstract

The effect of success, failure, and time spent in decision making on the degree of military and economic risk taking was investigated. A complex experimental simulation technique was employed as the research method to permit comparison of data obtained in the present setting with results reported by investigators using small-scale laboratory techniques. It was found that risk taking increases with the length of time that decision-making groups spend in working on a task. After some time, risky decision making may become concentrated in one decision area at a time, even though risks could be taken in more areas. Comparisons to laboratory results suggest some communalities as well as some differences with regard to risk-taking results.

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Document Details

Document Type
Technical Report
Publication Date
Nov 01, 1968
Accession Number
AD0678951

Entities

People

  • Siegried Streufert
  • Susan C. Streufert

Organizations

  • Purdue University

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Agreements
  • Environment
  • Gambling
  • Human Behavior
  • Information Processing
  • International Conflicts
  • Military Research
  • New York
  • Personality
  • Psychological Laboratories
  • Psychology
  • Sequences
  • Simulations
  • Social Psychology
  • Social Sciences
  • United States
  • Universities

Fields of Study

  • Psychology

Readers

  • Life Cycle Cost Analysis
  • Structural Dynamics.
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.