The Impact Of Regulatory Focus On Risk Decision Making

In life,we are faced with a variety of choices,and the best choice is to take the least risk and get the most return.Risk decision is a decision made in the uncertain situation where the event result and probability are determined.Individual risk decisions are largely influenced by environmental information and personal characteristics.A large number of previous studies have found that adjustment of focus can affect individual risk selection,and individuals who promote focus tend to seek risks,while individuals who prevent focus tend to avoid risks.However,the internal mechanism of the influence of regulation focus on risk decision making is rarely studied.Dual system theory is that human beings exists two different cognitive processing system-"heyristic system"based on intuition andbased on rational "analysis system",the researchers usually by manipulating the time pressure and cognitive load for risk decision is based on the heuristic system or analytical system is still some controversy,so this article will be based on the theory of dual system persprctive to discuss the intrinsic influence of adjusting orientation of risk decision-making mechanism.In this study,two experiments were conducted to explore the internal mechanism of the influence of regulation focus on risk decision-making.Experiment 1 adopted a three-factor mixed experiment design of 2(adjustment focus:promotion focus,prevention focus)x2(time pressure:with time pressure,without time pressure)x2(frame type:benefit frame,loss frame)to explore the regulating effect of time pressure on risk decision making by adjusting focus.In experiment 2,a three-factor mixed experiment design(2(regulation focus:promotion focus,prevention focus)x2(cognitive load:low cognitive load,high cognitive load)x2(frame type:benefit frame,loss frame)was used to explore the regulating effect of cognitive load on risk decision-making by adjusting focusThe research results show that(1)time pressure plays a regulating role in the influence of adjustment focus on risk decision-making:individuals of both types of adjustment focus tend to seek risks under the loss framework,and tend to avoid risks under the benefit framework;Under the condition of time pressure,targeted individuals are more likely to seek risks in the framework of benefits,while targeted individuals are more likely to seek risks in the framework of losses.(2)cognitive load plays a regulating role in regulating the influence of focus on risk decision-making:under the condition of low cognitive load,there is no interaction between focus regulation and frame type,that is,individuals who are either promoting focus or preventing focus are more likely to seek risks under the loss framework and more likely to avoid risks under the benefit framework.Under the condition of high cognitive load,those who promote focus are more likely to-seek risks under the benefit framework,while those who prevent focus are more likely to seek risks under the loss framework.(3)individuals with different regulatory focus rely on heuristic system to make risk decisions under time pressure and high cognitive load,but in the absence of time pressure and low cognitive load,risk decisions are more likely to be made by analytical system.