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| Author: | Forlani, D. Mullins, J.W. Walker, O.C. Jr. |
| Title: | New product decision making: How chance and size of loss influence what marketing managers see and do |
| Journal: | Psychology & Marketing
2002 : NOV, VOL. 19:11, p. 957-981 |
| Index terms: | Marketing Managers Risk management Decision making Market research |
| Language: | eng |
| Abstract: | This article empirically examines, in a new-product decision context, the relationships among risk propensity, perceived risk, and risky choice decisions, when risk is operationalized as the chance of loss and the size of loss. The results indicate that perceptions of chance of loss directly influence choice among alternatives possessing different chances of loss and gain, whereas risk propensity directly influences choice among alternatives that differ in their size of loss and gain. The findings extend previous research by identifying dimension specific effects btw. who the decision maker is and the size of an investment's potential loss, and btw. what the decision maker sees and the chance that an investment will experience a loss. These results not only contribute to theory, but also provide marketing managers with guidance for their risky choice decisions. |
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