A formal model of goal revision in approach and avoidance contexts

We developed a formal model of goal revision based on contemporary accounts of decision making under risk and uncertainty. The model assumes that individuals anchor their goal level to their dynamically updated expectations of performance and make adjustments around the anchor point depending on their risk preference. Risk preference was hypothesized to be a function of goal framing and personality. To assess the model, 60 participants were asked to set and revise goals as they completed an Air Traffic Control simulation task. Fitted model parameters indicated that participants pursuing avoidance goals were more risk averse when setting and revising their goals than participants pursuing approach goals. Individuals with high levels of neuroticism were more sensitive to the effects of goal framing than those with low levels of neuroticism. These findings clarify the role of goal framing, risk preferences, and activated traits in goal revision.