Does public officials' risk preference differ in self versus public decision-making? It depends on decision framing and bet size

• 成果类型: Article
• 署名作者: Zhang, Jinfeng; Wen, Xin; Mao, Hongqin; Xu, Ran; Zhang, Shuwei
• 署名单位: Chongqing University; Sun Yat Sen University
• 刊物名称: PUBLIC ADMINISTRATION
• ISSN/ISSBN: 0033-3298
• DOI: 10.1111/padm.13037
• 发表日期: 2025
• 页码: 510-535
• 关键词: PROSPECT-THEORY; psychological distance; expected utility; RESPONSIBILITY; CHOICE; MODEL; uncertainty; heuristics; aversion; POLICY

摘要

Psychological distance theory and social value theory suggest there is a risk difference in self versus other decision-making. On this basis, this study explores whether public officials' risk preferences differ in self versus public decision-making. Inspired by prospect theory, the decision framing and bet size are further considered as the decision-making conditions. Through a survey experiment using Chinese public officials, this study finds that, compared with decision-making for themselves, public officials have a lower risk preference in decision-making for the public. In addition, this risk preference difference occurs under the conditions of a gain frame and larger bet size. Conversely, under the condition of a loss frame and smaller bet size, the risk preference difference disappears. This study reveals public officials' risk pattern in self versus public decision-making, which has significant implications for managing risk in public decision-making and guiding those officials to make better decisions for the public.