Rhythm of risk: the effects of musical tempo on risk aversion
In everyday situations, background music is unavoidable and affects one’s decision-making process. This paper experimentally examines the effect of musical tempo on risk attitudes in said decision-making processes. In a lottery-choice task, subjects made a series of binary choices between 50-5...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
Nanyang Technological University
2023
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10356/166340 |
| _version_ | 1826121860569366528 |
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| author | Yue, Miguel Zhen Kai Tan, Nigel Jun Wen Tan, Yu Fan |
| author2 | He Tai-Sen |
| author_facet | He Tai-Sen Yue, Miguel Zhen Kai Tan, Nigel Jun Wen Tan, Yu Fan |
| author_sort | Yue, Miguel Zhen Kai |
| collection | NTU |
| description | In everyday situations, background music is unavoidable and affects one’s decision-making
process. This paper experimentally examines the effect of musical tempo on risk attitudes in said
decision-making processes. In a lottery-choice task, subjects made a series of binary choices
between 50-50 lottery and a sure outcome option while music was playing in the background. We manipulated the tempo of the background music and administered two treatment conditions:
Control and Treatment. We found that faster musical tempo decreased risk aversion. As only music from one musical genre (Jazz) was used, we cannot come to the same conclusion regarding music from other genres. In order to confirm the findings, future replications with more variations of music are necessary. |
| first_indexed | 2024-10-01T05:39:04Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/166340 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T05:39:04Z |
| publishDate | 2023 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1663402023-04-30T15:31:56Z Rhythm of risk: the effects of musical tempo on risk aversion Yue, Miguel Zhen Kai Tan, Nigel Jun Wen Tan, Yu Fan He Tai-Sen School of Social Sciences TS.He@ntu.edu.sg Social sciences::Sociology::Social behavior In everyday situations, background music is unavoidable and affects one’s decision-making process. This paper experimentally examines the effect of musical tempo on risk attitudes in said decision-making processes. In a lottery-choice task, subjects made a series of binary choices between 50-50 lottery and a sure outcome option while music was playing in the background. We manipulated the tempo of the background music and administered two treatment conditions: Control and Treatment. We found that faster musical tempo decreased risk aversion. As only music from one musical genre (Jazz) was used, we cannot come to the same conclusion regarding music from other genres. In order to confirm the findings, future replications with more variations of music are necessary. Bachelor of Arts in Economics 2023-04-25T07:34:43Z 2023-04-25T07:34:43Z 2023 Final Year Project (FYP) Yue, M. Z. K., Tan, N. J. W. & Tan, Y. F. (2023). Rhythm of risk: the effects of musical tempo on risk aversion. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/166340 https://hdl.handle.net/10356/166340 en HE1AY2223_17 application/pdf Nanyang Technological University |
| spellingShingle | Social sciences::Sociology::Social behavior Yue, Miguel Zhen Kai Tan, Nigel Jun Wen Tan, Yu Fan Rhythm of risk: the effects of musical tempo on risk aversion |
| title | Rhythm of risk: the effects of musical tempo on risk aversion |
| title_full | Rhythm of risk: the effects of musical tempo on risk aversion |
| title_fullStr | Rhythm of risk: the effects of musical tempo on risk aversion |
| title_full_unstemmed | Rhythm of risk: the effects of musical tempo on risk aversion |
| title_short | Rhythm of risk: the effects of musical tempo on risk aversion |
| title_sort | rhythm of risk the effects of musical tempo on risk aversion |
| topic | Social sciences::Sociology::Social behavior |
| url | https://hdl.handle.net/10356/166340 |
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