Richard P. Larrick

Richard P. Larrick
Duke University | DU · Fuqua School of Business

Ph D

About

74
Publications
67,483
Reads
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7,607
Citations
Citations since 2016
18 Research Items
3952 Citations
20162017201820192020202120220100200300400500600
20162017201820192020202120220100200300400500600
20162017201820192020202120220100200300400500600
20162017201820192020202120220100200300400500600
Additional affiliations
July 2001 - present
Duke University
Position
  • Professor of Management and Organizations
July 1993 - June 2001
University of Chicago Graduate School of Business
Position
  • Associate Professor of Behavioral Science
Education
August 1986 - June 1991
University of Michigan
Field of study
  • Social Psychology

Publications

Publications (74)
Chapter
This chapter discusses narrow frames as a general problem in decision making. The fundamental problem in decision making is accepting incomplete representations as complete. The prescription to decision makers is to use processes that broaden the frame for important decisions. By incorporating more complete information, broad frames on average is m...
Research
Full-text available
Consumers are often poorly informed about the energy consumed by different technologies and products. Traditionally, consumers have been provided with limited and flawed energy metrics, such as miles per gallon, to quantify energy use. We propose four principles for designing better energy metrics. Better measurements would describe the amount of e...
Article
Full-text available
Social psychologists have long recognized the power of statisticized groups. When individual judgments about some fact (e.g., the unemployment rate for next quarter) are averaged together, the average opinion is typically more accurate than most of the individual estimates, a pattern often referred to as the wisdom of crowds. The accuracy of averag...
Article
Full-text available
We examine the impact of subjective power on leadership behavior and demonstrate that the psychological effect of power on leaders spills over to impact team effectiveness. Specifically, drawing from the approach/inhibition theory of power, power-devaluation theory, and organizational research on the antecedents of employee voice, we argue that a l...
Article
The meaning of places is socially constructed, often informed by the groups that seem pervasive there. For instance, the University of Pennsylvania is sometimes called “Jew-niversity of Pennsylvania,” and the city of Decatur, Georgia, is disparagingly nicknamed “Dyke-atur,” connoting the respective pervasiveness of Jewish students and gay residents...
Article
We perform the first tests of individual-level preferences for “blinding” in decision making: purposefully restricting the information one sees in order to form a more objective evaluation. For example, when grading her students’ papers, a professor might choose to “blind” herself to students’ names by anonymizing them, thus evaluating the papers o...
Article
Full-text available
Seven experiments demonstrate that framing an organizational entity (the target) as an organization ("an organization comprised of its constituent members") versus its members ("constituent members comprising an organization") increases attribution of responsibility to the target following a negative outcome, despite identical information conveyed....
Article
The authors investigated the effectiveness of aggregating over potential noncontingent collective action ("If X people all do Y action, then Z outcomes will be achieved") to increase prosocial behavior. They carried out 6 experiments encouraging 4 different prosocial activities and found that aggregating potential benefits over 1,000 people produce...
Article
Full-text available
We propose that interpersonal behaviors can activate feelings of power, and we examine this idea in the context of advice giving. Specifically, we show a) that advice giving is an interpersonal behavior that enhances individuals’ sense of power and b) that those who seek power are motivated to engage in advice giving. Four studies, including two ex...
Article
Creativity is highly valued in organizations as an important source of innovation. As most creative projects require the efforts of groups of individuals working together, it is important to understand how creativity is perceived for team products, including how observers attribute creative ability to focal actors who worked as part of a creative t...
Article
Existing evidence suggests that managers exhibit a censorship bias: demand beliefs tend to be biased low when lost sales from stockouts are unobservable (censored demand) compared to when they are observable (uncensored demand). We develop a non-constraining, easily-implementable behavioral debias technique to help mitigate this tendency in demand...
Article
We evaluate the effect of discussion on the accuracy of collaborative judgments. In contrast to prior research, we show that discussion can either aid or impede accuracy relative to the averaging of collaborators’ independent judgments, as a systematic function of task type and interaction process. For estimation tasks with a wide range of potentia...
Article
In this article, we ask how well people fulfill informational motives by using the judgments of others. We build on advice-taking research from the judgment and decision making literature, which has developed a distinct paradigm to test how accurately people incorporate information from others. We use a literature review to show that people have mi...
Article
Full-text available
Every attribute can be expressed in multiple ways. For example, car fuel economy can be expressed as fuel efficiency (“miles per gallon”), fuel cost in dollars, or tons of greenhouse gases emitted. Each expression, or “translation,” highlights a different aspect of the same attribute. We describe a new mechanism whereby translated attributes can se...
Article
Full-text available
We examined whether people reduce the impact of negative outcomes through emotional hedging—betting against the occurrence of desired outcomes. We found substantial reluctance to bet against the success of preferred U.S. presidential candidates and Major League Baseball, National Football League, National Collegiate Athletic Association (NCAA) bask...
Article
Conjoint analysis is a widely used method for determining how much certain attributes matter to consumers by observing a series of their choices. However, how those attributes are expressed has important consequences for their choices and thus for conclusions drawn by market researchers about attribute importance. Expanded attribute scales (e.g., e...
Article
The past 40 years of psychological research on decision making has identified a number of important cognitive biases. However, the psychological study of decision making tends to focus on individuals making decisions in isolation. This article explores the social context of individual decision making by considering three lenses: individual contribu...
Article
Existing evidence suggests that managers exhibit a censorship bias: demand beliefs tend to be biased low when lost sales from stockouts are unobservable (censored demand) compared to when they are observable (uncensored demand). By leveraging psychological theory on wicked environments, we develop a non-constraining, easily-implementable behavioral...
Chapter
This chapter reviews the literatures on expertise and on decision making to consider the nature and development of decision making expertise, including its strengths and weaknesses. It provides a framework for identifying when expertise in decision making can emerge. The chapter highlights that the ability to escape checkmate is unrelated to the ab...
Article
In mixed-motive interactions, defection is the rational and common response to the defection of others. In some cases, however, group members not only cooperate in the face of defection but also compensate for the shortfalls caused by others’ defection. In one field and two lab studies, we examined when group members were willing to compensate for...
Chapter
“Choice architecture” is a metaphor capturing the idea that all choices occur within a structure of contextual and task features. These features in turn help to “construct” a person’s choice. In this chapter we summarize the academic literature on three types of choice architecture tools – defaults, information restructuring, and information feedba...
Article
Full-text available
Consumers are often poorly informed about the energy consumed by different technologies and products. Traditionally, consumers have been provided with limited and flawed energy metrics, such as miles per gallon, to quantify energy use. We propose four principles for designing better energy metrics. Better measurements would describe the amount of e...
Article
Full-text available
Interest is increasing in using behavioral decision insights to design better product labels. A specific policy target is the fuel economy label, which policy makers can use to encourage reduction in carbon dioxide emissions from transport-related fossil-fuel combustion. In two online experiments, the authors examine whether vehicle preferences can...
Article
Full-text available
Existing research provides considerable insight into what motivates people to seek and use advice. However, we know surprisingly little about what motivates people to give advice. In this paper, we examine the relationship between the psychological experience of power and the practice of giving advice to others. We argue that the psychological expe...
Article
Full-text available
Social psychologists have long recognized the power of “statisticized” groups. When individual judgments about some fact (e.g., the unemployment rate for next quarter) are averaged together, the average opinion is typically more accurate than most of the individual estimates, a pattern recently dubbed the “wisdom of crowds.” The accuracy of averagi...
Article
Full-text available
This research demonstrates how promoting the environment can negatively affect adoption of energy efficiency in the United States because of the political polarization surrounding environmental issues. Study 1 demonstrated that more politically conservative individuals were less in favor of investment in energy-efficient technology than were those...
Article
Full-text available
Some environments constrain the information that managers and decision makers can observe. We examine judgment in censored environments where a constraint, the censorship point, systematically distorts the observed sample. Random instances beyond the censorship point are observed at the censorship point, whereas uncensored instances are observed at...
Article
Individuals, groups, and societies all experience conflict, and attempt to resolve it in numerous ways. The Oxford Handbook of Economic Conflict Resolution brings together scholars from multiple disciplines to offer perspectives on the current state and future challenges in negotiation and conflict resolution. It aims to act as an aid in identifyin...
Article
Full-text available
Intergenerational decisions affect other people in the future. The combination of intertemporal and interpersonal distance between decision makers in the present and other people in the future may lead one to expect little intergenerational generosity. In the experiments reported here, however, we posited that the negative effect of intertemporal d...
Article
Full-text available
The way a choice is presented influences what a decision-maker chooses. This paper outlines the tools available to choice architects, that is anyone who present people with choices. We divide these tools into two categories: those used in structuring the choice task and those used in describing the choice options. Tools for structuring the choice t...
Article
Prior research suggests that people assess overall fairness of an event by focusing on the distribution of the final outcome (distributive fairness) and on how they are treated by others during the conflict resolution process (interactional fairness). The primary goal of this work is to use a social relationship framework to study differences in co...
Article
Full-text available
The way a choice is presented influences what a decision-maker chooses. This paper outlines the tools available to choice architects, that is anyone who present people with choices. We divide these too ls into two categories: those used in structuring the choice task and those used in describing the choice options. Tools for structuring the choice...
Article
Full-text available
Goals are a ubiquitous part of life and have been shown to modify behavior. This paper studies choice behavior when all outcomes in the choice set achieve or exceed the goal. Two studies report a persistent "Goal Effect". Specifically, when all outcomes of all options are above a salient and specific goal, decision-makers are more likely to choose...
Article
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In comparing computing systems, IT professionals need the ability to both gauge energy efficiency and understand the magnitude of improvements in power consumption.
Article
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In this study, we analyzed data from 57,293 Major League Baseball games to test whether high temperatures interact with provocation to increase the likelihood that batters will be hit by a pitch. Controlling for a number of other variables, we conducted analyses showing that the probability of a pitcher hitting a batter increases sharply at high te...
Article
Full-text available
The authors identify several judgmental biases related to paying off credit card debt. Participants with stronger numerical skills made fewer errors, as did those who used the new statement format mandated by Congress in the CARD Act of 2009. Study 1 shows that people underestimate how long it takes to eliminate a debt when payments barely cover in...
Article
Goals are a ubiquitous part of life and have been shown to change behavior in many domains. This research studied the influence of goal attainment on risky choice behavior. Previous research has shown that goals tend to increase risk-seeking behavior when potential outcomes fall below a goal. We examined a new problem: Choice behavior when all pote...
Article
Full-text available
The scales used to describe the attributes of different choice options are usually open to alternative expressions, such as inches versus feet or minutes versus hours. More generally, a ratio scale can be multiplied by an arbitrary factor (e.g., 12) while preserving all of the information it conveys about different choice alternatives. We propose t...
Article
Full-text available
A basic issue in social influence is how best to change one's judgment in response to learning the opinions of others. This article examines the strategies that people use to revise their quantitative estimates on the basis of the estimates of another person. The authors note that people tend to use 2 basic strategies when revising estimates: choos...
Article
Full-text available
Three experiments test whether specific, challenging goals increase risk taking. We propose that goals serve as reference points, creating a region of perceived losses for outcomes below a goal (Kahneman & Tversky, 1979; Tversky & Kahneman, 1992). According to the Prospect Theory value function, decision makers become more risk seeking in the domai...
Chapter
Rationality and DebiasingThe Nature of BiasesMotivational StrategiesCognitive StrategiesTechnological StrategiesAdoption and Diffusion of Debiasing TechniquesThe Future of Debiasing
Article
Full-text available
Three studies show that negotiators consistently underestimate the size of the bargaining zone in distributive negotiations (the small-pie bias) and, by implication, overestimate the share of the surplus they claim (the large-slice bias). The authors explain the results by asymmetric disconfirmation: Negotiators with initial estimates of their coun...
Article
A common social comparison bias -the better-than-average-effect- is frequently described as psychologically equivalent to the individual judgment bias known as overconfidence. However, research has found hard-easy effects for each bias that yield a seemingly paradoxical reversal: Hard tasks tend to produce overconfidence but worse-than-average perc...
Article
Full-text available
Averaging estimates is an effective way to improve accuracy when combining expert judgments, integrating group members' judgments, or using advice to modify personal judgments. If the estimates of two judges ever fall on different sides of the truth, which we term bracketing, averaging must outperform the average judge for convex loss functions, su...
Article
Full-text available
People are inaccurate judges of how their abilities compare to others'. J. Kruger and D. Dunning (1999, 2002) argued that unskilled performers in particular lack metacognitive insight about their relative performance and disproportionately account for better-than-average effects. The unskilled overestimate their actual percentile of performance, wh...
Article
Full-text available
Averaging estimates is an effective way to improve accuracy when combining expert judgments, integrating group members' judgments, or using advice to modify personal judgments. If the estimates of two judges ever fall on different sides of the truth, which we term bracketing, averaging must outperform the average judge for convex loss functions, su...
Article
Full-text available
Social networks that are missing relations among some of their members--termed incomplete networks--have been of critical theoretical and empirical interest in sociological research on weak ties and structural holes but typically have been overlooked in social psychological studies of network learning. Five studies tested for schematic processing d...
Article
This article introduces the study of frame choice in negotiation. Here, the selection of a procedural frame is treated as a dependent variable-a choice that bargainers make in addition to determining their offers. The empirical focus of the article is on whether, when given a choice between two alternative versions of the ultimatum bargaining game,...
Article
Full-text available
Several experiments provided evidence that negotiators make systematic errors in personality-trait attributions for the bargaining behaviors of their counterparts. Although basic negotiation behavior is highly determined by bargaining positions, negotiators primarily interpret their counterpart's behavior in terms of the counterpart's personality,...
Article
We argue that goals serve as reference points and alter outcomes in a manner consistent with the value function of Prospect Theory (Kahneman & Tversky, 1979; Tversky & Kahneman, 1992). We present new evidence that goals inherit the proper ties of the value function-not only a reference point, but also loss aversion and diminishing sensitivity. We a...
Article
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The current research investigates two factors that might moderate the effects of competitive demands and biased fairness perceptions on conflict resolution: the relationship between the negotiators and perspective taking. In an experiment, we found that negotiators in a positive relationship were more self-serving in aspirations and fairness judgme...
Article
Full-text available
A problem in joint ventures between U.S. and Asian firms is that cultural differences impede the smooth resolution of conflicts between managers. In a survey of young managers in the U.S., China, Philippines, and India we find support for two hypotheses about cultural differences in conflict style and the cultural values that account for these diff...
Article
The literature in cognitive psychology has described a variety of shortcomings that prevent individuals from learning effectively. We review this literature and provide examples of a number of organizational practices that may effectively repair the cognitive shortcomings of individuals. We call these practices cognitive repairs. We then discuss si...
Article
Full-text available
The term procedural frames is introduced and defined as different representations of structurally equivalent allocation processes. Study 1 compared 2 well-known games, sequential social dilemmas and ultimatum bargaining, that share the same structure: Player 1 creates an allocation of a resource and Player 2 decides whether to allow it or deny it....
Article
Full-text available
The question of whether lay attributors are biased in their discounting of 1 cause given an alternative cause has not been resolved by decades of research, largely due to the lack of a clear standard for the rational amount of discounting. The authors propose a normative model in which the attributor's causal schemas and discounting inferences are...
Article
Regret theory (Bell, 1983) posits that learning about the outcome of a foregone alternative creates the possibility of experiencing regret. In a choice between a certain outcome and a gamble with a similar expected value, regret theory predicts the following: Decision makers will be more likely to choose the certain outcome when they expect they wi...
Article
briefly [review] 3 prominent social psychological theories of relationships as we develop a model of how social context affects negotiation behavior / in this model, we assert that a critical mediating variable between social context and cooperative behavior is the degree to which a party perceives him- or herself to have an affinity with another i...
Article
We find three factors to be associated with use of cost-benefit rules in everyday decisions. These are effectiveness in achieving desirable life outcomes, intelligence, and training in economics. We argue that these empirical findings support the claim that cost-benefit reasoning is normative. Peer Reviewed http://deepblue.lib.umich.edu/bitstream/2...
Article
Full-text available
Reviews the standard economic and cognitive models of decision making under risk and describes the psychological assumptions that underlie these models. Important motivational factors that are typically underemphasized by the standard theories are then reviewed, including the motivation to protect one's self-image from failure and regret. An integr...
Article
This article reviews the standard economic and cognitive models of decision making under risk and describes the psychological assumptions that underlie these models. It then reviews important motivational factors that are typically underemphasized by the standard theories, including the motivation to protect one's self-image from failure and regret...
Article
Full-text available
Three experiments tested the idea that a motive to protect self-esteem (SE) from the threat of regret can influence decision making. Threat to SE was manipulated by varying whether people expected to know the outcome of their decisions. Study 1 showed that when Ss expected feedback about their decisions, only Ss low in SE made regret-minimizing cho...
Article
Full-text available
Archival data from major league baseball games played during the 1986, 1987, and 1988 seasons (total N = 826 games) were used to assess the association between the temperatures at the games and the number of batters hit by a pitch during them. A positive and significant relationship was found between temperature and the number of hit batters per ga...
Article
Our research shows that people can apply the cost-benefit rules of microeconomic theory to their everyday decisions. Two populations were examined: (a) people who had previously received extensive formal training in the rules and (b) naive subjects who were randomly assigned to receive brief training in the rules. Training affected reasoning and re...
Article
Full-text available
We test whether specific, challenging goals increase risk taking. We propose that goals serve as reference points, creating a region of perceived losses for outcomes below a goal (Kahneman & Tversky, 1979; Tversky & Kahneman, 1992). According to the Prospect Theory value function, decision makers become more risk seeking in the domain of losses. In...
Article
Full-text available
Goals have a powerful effect on performance: higher goals typically produce better performance. Previous research has proposed three key mechanisms to explain these results: effort, persistence, and attention. We present a formal model that relates these mechanisms to a single underlying process. Our model assumes that goals divide performance into...

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