Greed Restraint: Ambiguity Aversion, Reference Dependence, and Self-Centeredness as Sources of Self-Regulation in Instrumental Crime

Abstract

Based on in-depth interviews with 29 active drug robbers (25 male, 4 female) from St. Louis, MO (USA), we explore restraint among people and in circumstances where there should be none. Focusing on greed restraint at the crime’s payoff point (i.e., not taking everything one could when rewards are seized), we identify the decision-making constructs and conceptual pathways by which this happens and discuss their implications for improved specification of the relationship between criminal propensity, self-regulation, and risk sensitivity. We contend that self-centeredness is the one dimension of criminal propensity that is sufficiently receptive to risk sensitivity to make self-regulation possible, and that individuals with low trait self-control can show state self-control when ambiguity aversion and reference point expectations align to sate anomic greed. This refinement offers novel pathways for future study of dual-influence models of crime, and suggests that offender decision-making is best conceptualized as a process that unfolds during crimes rather than a discrete event that precedes them.