It is a theoretical paper studying human value judgments. If a person has a choice of starting a new company or taking a job in an existing firm, how is the decision made?
- Suppose they start with this expression:
(expected value of becoming an entrepreneur) O (expected value of becoming a salaryworker)
(Replace the O with <, >, or =)
- First of all, what are the exact values at play in the decision (income, status?) and how are they discounted over time (into different variables)? I take a multidisciplinary approach to all of this -- a heady (haw, haw) mix of evolutionary psych and econ to break down each of the "expected values" into distinct universal variables.
- Secondly, I explore how the decisionmaking process is made. ("How do they solve the equation?") How does a person gather information to make their choice? How does their own experience with risk affect their decision? This part is grounded almost solely in psych research.
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I'm looking input on content first, style second. It's due Weds., March 14th, so I'll be fast both sending and corresponding. Thanks in advance, those of you who decide to help! :)