Does your gain define my loss?: Socially-defined counterfactual loss and prevention-focused decision-making

【Author】 Nakkawita, Emily; Mathmann, Frank; Higgins, E. Tory

【Source】PERSONALITY AND INDIVIDUAL DIFFERENCES

【影响因子】3.950

【Abstract】How do individual differences in motivation relate to risky decision-making? The objective of the present study was to explore this question within a real-world situation in which participants invested in Bitcoin, a risky asset. The article focuses on cases of a socially-defined counterfactual loss-situations in which the people in one's social context experience a gain, which functions as a new reference point against which the individual falls short. Although a prevention focus is known to predict risky behavior following an actual loss (Scholer, Zou, Fujita, Stroessner, & Higgins, 2010), no previous research has explored whether prevention predicts risk-taking after a counterfactual loss. Results revealed that a stronger prevention focus predicted decreased risk-taking among participants who experienced a counterfactual loss; no such effect was detected among a control group (to visualize model predictions dynamically, see https://emilynakka.shinyapps.io/RFCFLoss/). Further, this effect was mediated by hypothetical feelings of relief when imagining that one had previously invested in Bitcoin. This research extends previous findings on the relationship between regulatory focus and risk-seeking, and offers implications for everyday decision-making. Data and syntax are available at https://osf.io/e4nr3/.

【Keywords】Motivation; Self-regulation; Regulatory focus; Prevention; Decision-making; Risk; Counterfactual thinking

【发表时间】2020 1-Jul

【收录时间】2022-01-02

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