مطالب

This paper studies the effect of the space (distance) between lotteries' outcomes on risk-taking behavior and the shape of estimated utility and probability weighting functions. Previously investigated experimental data shows a significant space effect in the gain domain. As compared to low spaced lotteries, high spaced lotteries are associated with higher risk aversion for high probabilities of gain and higher risk-seeking for low probabilities of gain. Hence, the investigation is carried under cumulative prospect theory that respects framing effect and characterizes risk attitudes with respect to probabilities and outcomes. The observed certainty equivalents of lotteries are assumed to be driven by cumulative prospect theory. To estimate the parameters of cumulative prospect theory with maximum likelihood, the usual error term is added. The cumulative prospect theory is incapable of explaining the space effect as its parameters cannot explain the average behavior. Taking account of heterogeneity, a two-component mixture model shows that behavioral parameters of around 25% of the sample can explain the observed differences in relative risk aversions. The results confirm the previous findings of aggregation bias associated with representative-agent models. Furthermore, the results have implications for experimental designs as high space between lotteries' outcomes is required to guarantee the curvature of utility functions.

The present study aimed to investigate the relationship between perfectionism and narcissism with psychosocial adaptation in elite and non-elite athletes. A total of 200 elite and non-elite athletes (20-30 years old) who participated in the tournament of 2020 in Tabriz were randomly selected and completed the questionnaire of Sport Perfectionism - 2nd Dun et al. (2009 and 2010), Ruskin and Terry narcissism and Bell Social Adaptation Inventory. To analyze the results, Pearson correlation coefficient and simultaneous regression analysis were used. The results showed that in elite athletes group, there was a positive correlation between positive perfectionism (organizational and personal criteria) and psychological social adjustment, and between negative perfectionism (doubts about actions, perceived pressure of parents and perceived pressure of instructor) and narcissism with negative psychological social adjustment and both positive and negative perfectionism and narcissism variables could significantly predict social adjustment in elite athletes (P <0.05). In non-elite group between positive components of perfectionism, only the organizational component has a negative correlation with psychological social adjustment and the correlation between negative and narcissistic perfectionism components with positive social adjustment is positive. Among the components of perfectionism, the only negative components (too much importance by mistake, parental perception and perceived stress of the mentor) and the narcissistic variable have been able positively to predict psychosocial compatibility (P <0.05). Psychological social adjustment in athletes is one of the key variables in the professional and personal life of athletes, which is influenced by features such as perfectionism and narcissism.