Action Bias and Environmental Decisions

  title={Action Bias and Environmental Decisions},
  author={Anthony Patt and Richard J. Zeckhauser},
  journal={Journal of Risk and Uncertainty},
Individuals have a penchant for action, often for good reasons. But action bias arises if that penchant is carried over to areas where those reasons do not apply, hence is nonrational. Action bias is explored theoretically, and then empirically, using data from surveys of hypothetical environmental decisions. Quite apart from agency considerations, individuals like to affect outcomes when gains are reaped. Given the ability to help one of two sites, we find that decision makers choose to foster… 

Responding to problems: actions are rewarded, regardless of the outcome

ABSTRACT When faced with a problem, policymakers have a choice of action or inaction. Psychological research shows varying results on how individuals evaluate (in)actions conditional on the

“Biases” in Adaptive Natural Resource Management

Uncertainties about the consequences of natural resource management mean that managers are required to make difficult judgments. However, research in behavioral economics, psychology, and behavioral

Protected values: No omission bias and no framing effects

Investigating the relationship between PVs and acts versus omissions in risky choices, using a paradigm in which act and omission biases were presented in a symmetrical manner, found people with strong PVs were immune to framing; participants with few PVs showed robust framing effects.

Behavioral Economics and Environmental Policy

This article provides an interpretive survey on implications of insights from behavioral economics for environmental policy. In particular, it discusses whether, and if so how, policy implications

Risk and Prior Outcome Effects on Managerial Decision Making

  • Ofer H. Azar
  • Economics, Business
    Journal of Behavioral and Experimental Economics
  • 2021

The Costs and Benefits of Calculation and Moral Rules

It is argued that outside the very narrow domain in which consequences can be unambiguously anticipated, it is not at all clear that calculation processes optimize outcomes.

Omission bias, individual differences, and normality

Strategic Policy Overreaction as a Risky Policy Investment

  • M. Maor
  • Political Science
    International Review of Public Policy
  • 2019
Policy overreaction is a policy that imposes objective and/or perceived social costs without producing offsetting objective and/or perceived benefits. It is therefore an objective fact and, at the



Reference Points and Omission Bias

Abstract Subjects were asked to evaluate the choice of options leading to known outcomes, or to say how they would feel about a chance outcome, in hypothetical decisions. We independently manipulated

Status-quo and omission biases

Bias toward the status quo, found in choice and in emotional reactions to adverse outcomes, has been confounded with bias toward omission. We unconfounded these effects with scenarios in which change

Status quo bias in decision making

Most real decisions, unlike those of economics texts, have a status quo alternative—that is, doing nothing or maintaining one's current or previous decision. A series of decision-making experiments

Preference reversals and the measurement of environmental values

Numerous studies have demonstrated that theoretically equivalent measures of preference, such as choices and prices, can lead to systematically different preference orderings, known as preference

Prospect theory: analysis of decision under risk

Analysis of decision making under risk has been dominated by expected utility theory, which generally accounts for people's actions. Presents a critique of expected utility theory as a descriptive

Reluctance to vaccinate: Omission bias and ambiguity

Subjects are reluctant to vaccinate a (hypothetical) child when the vaccination itself can cause death, even when this is much less likely than death from the disease prevented. This effect is even

Amos Tversky and the Ascent of Behavioral Economics

Amos Tversky investigated and explained a wide range of phenomena that lead to anomalous human decisions. His two most significant contributions, both written with Daniel Kahneman, are the

Willingness to Pay and Compensation Demanded: Experimental Evidence of an Unexpected Disparity in Measures of Value

Aside from possible income effects, measures of the maximum amounts people will pay to avoid a loss and the minimum compensation necessary for them to accept it are generally assumed to be

Judgment under Uncertainty

The thirty-five chapters in this book describe various judgmental heuristics and the biases they produce, not only in laboratory experiments but in important social, medical, and political situations