Abstract
The authors review the self-other decision-making differences, and propose that such differences are derived from decision makers' cognitive differences in construal level. The mental construals are low when people make decisions for themselves, whereas the mental construals are high when they decide for others. Theoretically, self-other decision-making differences are illustrations of bounded rationality. Practically, understanding such differences as well as their mechanisms helps to achieve optimal decisions.
| Original language | English |
|---|---|
| Pages (from-to) | 1124-1132 |
| Number of pages | 9 |
| Journal | Beijing Daxue Xuebao (Ziran Kexue Ban)/Acta Scientiarum Naturalium Universitatis Pekinensis |
| Volume | 50 |
| Issue number | 6 |
| DOIs | |
| State | Published - 20 Nov 2014 |
Keywords
- Bounded rationality
- Cognitive differences
- Construal level
- Psychological weights
- Self-other decision-making differences
- attached to gains and losses