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Individual Distinctions in the Dynamic Decision-Making Under Risk and Uncertainty

Student: Mariia Baranova

Supervisor: Alexander Eliseenko

Faculty: Faculty of Social Sciences

Educational Programme: Psychology (Bachelor)

Final Grade: 8

Year of Graduation: 2017

The current research is based on the assumption of the possible discrepancy between questionnaires aimed to measure tolerance for uncertainty and tendency to risk and measurements collected by a situational scenario. The research paper is aimed to develop and evaluate quality parameters of the situational scenario as an alternative way of measuring individual features of decision-making under risk and uncertainty as well as identify the correlations between the situational scenario and questionnaires for tolerance for uncertainty and tendency to risk. A methodic of the situational scenario with the alternatives ranked by the risk and uncertainty was specially developed in order to check the hypothesis about the existence of the correlation between indexes that are obtained with the usage of scales for tolerance for uncertainty and tendency to risk and the results of the situational scenario. The results of the research demonstrated the absence of correlations between tolerance for uncertainty and tendency to risk as well as between situational scenario and tolerance for uncertainty. In addition, the correlation between situational scenario and tendency to risk was found. The prospects of the research could be in strengthening the quality indicators of the situational scenario and their further generalization. For achieving this, it is necessary to increase the number of respondents and set the homogeneity of the feedbacks on each step of the scenario. In addition, the prospect of the research may include the automatization of the data and its collection with the usage of computer diagnostic tools as well as virtual visualization for modeling situations closer to reality.

Full text (added May 19, 2017)

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