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Full-Text Articles in Cognition and Perception
The Psychology Of Contract Precautions, David A. Hoffman, Tess Wilkinson-Ryan
The Psychology Of Contract Precautions, David A. Hoffman, Tess Wilkinson-Ryan
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This research tests the intuition that parties to a contract approach each other differently before the contract is formed than they do once it is finalized. We argue that one of the most important determinants of self-protective behavior is whether the promisee considers herself to be in negotiations or already in an ongoing contract relationship. That shift affects precaution-taking even when it has no practical bearing on the costs and benefits of self-protection: the moment of contracting is a reference point that frames the costs and benefits of taking precautions. We present the results of three questionnaire studies in which …
Pragmatic Rationality And Risk, Claire Oakes Finkelstein
Pragmatic Rationality And Risk, Claire Oakes Finkelstein
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Pragmatic theories focus on whether agents fare better acting on the basis of a particular intention or plan, rather than whether this can be justified in terms of the expected utility associated with the plan. This article argues that, while attractive, pragmatic theories have difficulty vindicating the rationality of plans involving an element of risk. In “Assure and Threaten,” David Gauthier noticed this difficulty with respect to deterrent threats. This article argues that the same difficulty exists for assurances involving an element of risk. It then explores whether Pragmatists could solve the shortcomings of their approach by adopting the Chance …