Bounded Rationality Characteristics Research of Information Searching Based on the Prospect Theory

  • Chen Jing ,
  • Wang Yijun ,
  • Yang Zhizhuo ,
  • Lu Quan
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  • 1. School of Information Management, Central China Normal University, Wuhan 430079;
    2. School of Information Management, Wuhan University, Wuhan 430072

Received date: 2017-08-08

  Revised date: 2017-10-24

  Online published: 2018-01-05

Abstract

[Purpose/significance] This paper attempts to explore the bounded rationality characteristics of information searching based on the prospect theory.[Method/process] The questionnaire survey was used to test and verify the reference dependency, the risk preference reversal, the loss elusion and risk elusion, the framing effect of users' information searching behavior.[Result/conclusion] The results show that users' information searching behavior conforms to the prospect theory characteristics:there is reference dependency when users search information; users are risk seeking in gain and risk aversion in loss; the pain induced by delay is greater than the happiness induced by finishing tasks ahead of schedule, and with the deviation from references, users' marginal experience is decreasing with diminishing sensitivity; the framing effect is also obvious. The study provides sound experimental evidence that the interpretation and the prediction of the users' information searching behavior are accurate based on the prospect theory.

Cite this article

Chen Jing , Wang Yijun , Yang Zhizhuo , Lu Quan . Bounded Rationality Characteristics Research of Information Searching Based on the Prospect Theory[J]. Library and Information Service, 2018 , 62(1) : 61 -68 . DOI: 10.13266/j.issn.0252-3116.2018.01.008

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