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Increased social distance makes people more risk-neutral

Individuals are consistently observed to be risk-averse over gains and risk-seeking over losses. This study examined whether increased social distance would change these behavioral patterns. To test our hypothesis, social distance was manipulated by asking the participants to make decisions either f...

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Published in:	The Journal of social psychology 2017-07, Vol.157 (4), p.502-512
Main Authors:	Sun, Qingzhou, Liu, Yongfang, Zhang, Huanren, Lu, Jingyi
Format:	Article
Language:	English
Subjects:	Adult Behavior change Beneficiaries Decision makers Decision Making Experiments Female Gain/loss domain Humans Male Risk risk preference Risk preferences Risk-Taking Social change Social Distance Social research Young Adult
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container_title	The Journal of social psychology
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creator	Sun, Qingzhou Liu, Yongfang Zhang, Huanren Lu, Jingyi
description	Individuals are consistently observed to be risk-averse over gains and risk-seeking over losses. This study examined whether increased social distance would change these behavioral patterns. To test our hypothesis, social distance was manipulated by asking the participants to make decisions either for themselves or for another person (Experiment 1), either for a known person or for an unknown person (Experiment 2), and either for a close friend or for a distant friend (Experiment 3). The results of Experiments 1 and 3 showed that increased social distance made people more risk-neutral, and such an effect was stronger in the gain domain than in the loss domain. However, the effect of social distance was not observed in Experiment 2. These findings suggest that risk preferences are influenced by the social distance between decision makers and beneficiaries.
doi_str_mv	10.1080/00224545.2016.1242471
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subjects	Adult Behavior change Beneficiaries Decision makers Decision Making Experiments Female Gain/loss domain Humans Male Risk risk preference Risk preferences Risk-Taking Social change Social Distance Social research Young Adult
title	Increased social distance makes people more risk-neutral
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