Securing foundations and advancing frontiers: Prevention and promotion effects on judgment &amp; decision making

Higgins, E. Tory; Cornwell, James F. M.

doi:10.1016/j.obhdp.2016.04.005

Cited by 118 publications

(136 citation statements)

References 78 publications

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“…Idson et al. (, ) explained this pattern of results (whereby losses are more intense than non‐gains, and gains are more intense than non‐losses) in terms of RF theory (Higgins, , ), which offers a comprehensive framework to understand outcome valuation (for a recent discussion, see Higgins & Cornwell, ). We discuss this theory in more detail later.…”

Section: Reference Points and Loss Aversionmentioning

confidence: 99%

The Loss of Loss Aversion: Paying Attention to Reference Points

Higgins

Liberman

2018

J Consum Psychol

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We agree with Gal and Rucker (, in press) that loss aversion is not as firmly established as typically assumed. We affirm, however, the more general principle put forward within Prospect Theory (D. Kahneman & A. Tversky, 1979), which is that reference points increase people's sensitivity to objective changes in value. We show how the literatures on counterfactual thought, social comparison, and goal pursuit are consistent with the notion that reference points increase sensitivity to change in value, while not being consistent with loss aversion. We then examine, within the framework of Regulatory Focus theory (E. T. Higgins, 1997, 1998), how different reference points combine with characteristics of the actor and the situation to give rise to loss aversion (more sensitivity to negative outcomes than to positive outcomes) as well as to the reverse pattern (more sensitivity to positive outcomes than to negative outcomes). Our review suggests that the status quo, even when used as a reference point, is not necessarily neutral. It also suggests that anchor points other than the status quo may serve as reference points and that people may use more than one reference point simultaneously. More generally, we call for a critical examination of the “bad is stronger than good” principle.

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Section: Reference Points and Loss Aversionmentioning

confidence: 99%

The Loss of Loss Aversion: Paying Attention to Reference Points

Higgins

Liberman

2018

J Consum Psychol

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“…Prevention-focused individuals want to limit their risk (Hmieleski & Baron, 2008) and choosing a career path that lowers their risk of failure, such as finding themselves out of employment, is therefore important. In addition, prevention-focused individuals are likely to be more vigilant in the face of pursuing goals that may ultimately lead to losses (Higgins & Cornwell, 2016), and may decide to stop before any losses are incurred (Tumasjan & Braun, 2012). In addition, prevention-focused individuals are likely to be more vigilant in the face of pursuing goals that may ultimately lead to losses (Higgins & Cornwell, 2016), and may decide to stop before any losses are incurred (Tumasjan & Braun, 2012).…”

Section: Entrepreneurial Versus Employee Career Motivationsmentioning

confidence: 99%

“…They may exhibit a high intention despite their prevention-related motivations because their perceived support (subjective norm) or behavioural control is high (Ajzen, 1991). They will favour the status quo over the risk of ultimately finding themselves in a worse situation (Higgins & Cornwell, 2016). They will favour the status quo over the risk of ultimately finding themselves in a worse situation (Higgins & Cornwell, 2016).…”

Section: Entrepreneurial Versus Employee Career Motivationsmentioning

confidence: 99%

“…From an RFT standpoint, individuals with a promotion focus will look to enter into behaviours which they believe will enable them to hit and avoid missing interesting opportunities (Crowe & Higgins, 1997). They will seek to grow and advance to better states (Higgins & Cornwell, 2016) and will tend to have an eager approach to opportunity evaluation (Bryant, 2007). As a result, a promotion focus has (4); social (2); autonomy (4); "making lots of money"…”

Section: Entrepreneurial Predispositionmentioning

confidence: 99%

“…Entrepreneurial careers are seen as more volatile and risky (Douglas & Shepherd, 2002), while employee careers seem more predictable, although their associated financial rewards may be lower, and thus respond to prevention-focused individuals' safety needs. In addition, prevention-focused individuals are likely to be more vigilant in the face of pursuing goals that may ultimately lead to losses (Higgins & Cornwell, 2016), and may decide to stop before any losses are incurred (Tumasjan & Braun, 2012). They will be more demanding before acting on opportunities, for example by setting higher screening criteria (Tumasjan & Braun, 2012).…”

Section: Entrepreneurial Predispositionmentioning

confidence: 99%

See 2 more Smart Citations

A longitudinal analysis of the influence of career motivations on entrepreneurial intention and action

Delanoë‐Gueguen

Liñán

2018

Can J Adm Sci

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The impact of career motivations on entrepreneurial intention and action remains in need of being investigated conjointly. Using a large sample and follow-up data collected five years later, we investigate their influence on the entrepreneurial involvement of young adults, from the expression of an intention to entrepreneurial action. We show that only the search for job security seems to have a persistent effect throughout the process. In addition, autonomy is associated with the formation of intention, while wanting to manage full processes is related to actual start-up participation. We discuss the theoretical and practical implications.

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The Psychology of Entrepreneurship

Shaver

Davis²

2017

The Wiley Handbook of Entrepreneurship

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Securing foundations and advancing frontiers: Prevention and promotion effects on judgment & decision making

Cited by 118 publications

References 78 publications

The Loss of Loss Aversion: Paying Attention to Reference Points

The Loss of Loss Aversion: Paying Attention to Reference Points

A longitudinal analysis of the influence of career motivations on entrepreneurial intention and action

The Psychology of Entrepreneurship

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