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As Mark Twain (1894, reprinted 1996: 120) wrote: “It were not best that we would all think alike; it is the difference of opinion that makes horse races.”
Note, though, that this study involved only five workers and has been dismissed as a “glorified anecdote” by University of Michigan psychology professor Richard Nisbett [Kolata G (1998) Scientific Myths That Are Too Good to Die. The New York Times. 6 December 1998]
Although a larger sample may be desirable, a wide variety of well-accepted stud ies have used smaller, homogeneous samples of students, including: Abdellaoui (2000) — 64 economics students; Bleichrodt (2001) — 66 health economics students; Fox and Tversky (1998) — 50 students interested in basketball; and Kilka and Weber (2001) —55 graduate finance students.
This is qualitatively similar to most results using the Carter Team scenario [Professor Carol Kulik, personal communication, 22 September 2003].
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(2006). Why Managers Take Risks. In: Why Managers and Companies Take Risks. Contributions to Management Science. Physica-Verlag HD. https://doi.org/10.1007/3-7908-1696-5_7
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