Original scientific paper
https://doi.org/10.1080/1331677X.2018.1439396
Financial risk information avoidance
Anna Blajer-Gołębiewska
; Faculty of Economics, Microeconomics Department, University of Gdansk, Sopot, Poland
Dagmara Wach
; Faculty of Economics, Electronic Commerce Department, University of Gdansk, Sopot, Poland
Maciej Kos
; College of Computer & Information Science and Bouve College of Health Sciences, Northeastern University, Boston, MA, US
Abstract
Availability of information is one of the most important factors for
financial decision-makers. Having complete information about the
probability of losing money should always leave decision-makers
better off. However, in some situations financial decision-makers prefer
to know less than more. In this study we investigated the impact of
selected characteristics of financial threats on individuals’ decisions to
avoid risk information in an incentivised online experiment. We found
that threat severity, relative risk, and effectiveness of threat prevention
alone do not influence decisions to avoid risk information. However,
we did find an interaction effect between the first two treatments.
Furthermore, our data suggest that coping style, locus of control, and
anticipated emotional response are statistically significant predictors
of financial risk information avoidance.
Keywords
Criteria for decision-making under risk and uncertainty; behavioural finance; behavioural microeconomics; design of experiments; information; uncertainty
Hrčak ID:
200689
URI
Publication date:
3.12.2018.
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