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Personal Values Modulate Risk-Taking Behaviors: Hedonism as an Accelerator and Security as a Brake

Authors:

Abstract

1. Personal values underlie our evaluation and further in uence subsequent be- haviors, according to value-attitude-behavior hierarchical model1. 2. Value-based decision making involves assessing potential gains and losses, which should be affected by personal values2. 3. We investigated the role of hedonism and security in accelerating and braking risk-taking behaviors, respectively.
Personal Values Modulate Risk-Taking Behaviors:
Hedonism as an Accelerator and Security as a Brake
Yun-Shiuan Chuang1, Joshua Oon Soo Goh1,2
1. Department of Psychology, National Taiwan University.
2. Graduate Institute of Brain and Mind Sciences, College of Medicine, National Taiwan University.
Introduction
Methods and Materials
1. Personal values underlie our evaluation and further inuence subsequent be-
haviors, according to value-attitude-behavior hierarchical model1.
2. Value-based decision making involves assessing potential gains and losses,
which should be affected by personal values2.
3. We investigated the role of hedonism and security in accelerating and braking
risk-taking behaviors, respectively.
Participants
N = 43 (17 male and 26 female); Age = 23.8 ± 2.0 years.
Lottery Choice Task3 Trial Conditions
Schwartz Value Survey
Value Denition Sample Items
Hedonism Pleasure and sensuous
gratication for oneself
Pleasure, Enjoying life,
Self-indulgent
Security Safety, harmony and stability of
society, of relationships, and of self
National security,Reciprocation of favors,
Family security,Social order
Results
References
1. Schwartz, S. H. (2012). An overview of the Schwartz theory of basic values. Online Readings in Psychology and Culture, 2(1), 1-20.
2. Rangel, A., Camerer, C., & Montague, P. R. (2008). A framework for studying the neurobiology of vaue-based decision making. Nature
reviews neuroscience, 9(7), 545-556.
3. Jaeger, T. F. (2008). Categorical data analysis: Away from ANOVAs (transformation or not) and towards logit mixed models. Journal of
mem ory and language, 59(4)
4. Goh, J. O., Su, Y.-S., Tang, Y.-J., McCarrey, A. C., Tereshchenko, A., Elkins, W., & Resnick, S. M. (2016). Frontal, Striatal, and
Medial Temporal Sensitivity to Value Distinguishes Risk-Taking from Risk-Aversive Older Adults during Decision Making.
Journal of Neuroscience, 36(49), 12498-12509.
Acknowledgements
This work was supported by Taiwan Ministry Science
and Technology grants 103-2410-H-002-082-MY2,
105-2420-H-002-002-MY2, and 105-2410-H-002-055-MY3.
Correspondence
Yun-Shiuan Chuang: vimchiz@gmail.com
Joshua Oon Soo Goh: joshuagoh@ntu.edu.tw
Brain and Mind Laboratory
http://gibms.mc.ntu.edu.tw/bmlab/
Graduate Institute of Brain and Mind
Sciences
National Taiwan University College of
Medicine
Section 1, No. 1 Ren-ai Rd,
15th oor, Rm 1554,
Zhongzheng District, Taipei 10051, Taiwan
2Hedonism enhances risk-taking behaviors
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Acceptance Rate
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Probability
Hedonism
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High Magnitude
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Acceptance Rate
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Probability
Security
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High Magnitude
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Probability(%)
Probability of acceptance
Low Magnitude Trials
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Medium Magnitude Trails
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Probability(%)
Hedonism
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Low
High Magnitude Trials
*Interaction of Hehonism x Prob. x Mag. , pMCMC < .05
GLMM with MCMC Stimulation4MCMC Parameters
Thin = 50; Burn-in =100,000
Iteration = 400,000
Priors:
3Security inhibits risk-taking behaviors
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Probability(%)
Probability of acceptance
Low Magnitude Trials
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Medium Magnitude Trails
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Probability(%)
Security
High
Low
High Magnitude Trials
*Main effect of Security , pMCMC < .05 *Interaction of Security x Prob. , pMCMC < .05
Conclusions
1. Our ndings show that hedonism is positively associated with risk-taking be-
haviors while security is negatively associated; two effects are independent.
2. Personal value effects are amplied during low probability and magnitude
conditions, where risk-taking behaviors diversify more among individuals.
3. Our ndings support the role of personal values in risk-taking behaviors and
have implications for understanding the bases for individual differences in
human value-based decisions.
Magnitude Gambled (points)
Prob.
(%)
L M H
1-15 51-65 101-115
HH
(84-95) HH_L HH_M HH_H
MH
(64-75) MH_L MH_M MH_H
MM
(44-55) MM_L MM_M MM_H
ML
(24-35) ML_L ML_M ML_H
LL
(4-15) LL_L LL_M LL_H
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1Overview of values and risk-taking behaviors
1(Cor.)Mean (SD)
1.Hedonism -.01 (1.39)
2.Security -.07 -.08 (0.67)
Overall Acceptance Rate: Mean(SD)
H0.03 (0.08) 0.05 (0.13) 0.54 (0.25) 0.97 (0.07) 0.96 (0.08)
M0.02 (0.04) 0.05 (0.08) 0.42 (0.23) 0.97 (0.08) 0.97 (0.07)
L0.11 (0.19) 0.15 (0.23) 0.63 (0.22) 0.96 (0.10) 0.92 (0.18)
LL ML MM MH HH
Probability
Magnitude
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