Warning messages reduce risky decisions, especially for those with low cognitive abilities.
The article explores how displaying risk warning messages can affect people's decisions in online lotteries. By testing different types of warnings, the researchers found that clear and strong messages can help reduce risky choices. They also discovered that people with lower cognitive abilities tend to be more cautious when faced with risks. This study is unique because it looks at how dynamic inconsistency can influence decision-making, providing valuable insights for future research in this area.