Cultural Identity and the Antecedents of Risky Decision-Making: Am I Good Or Lucky?

Ana Valenzuela, Baruch College, US
Peter Darke, University of British Columbia, Canada
Donnel Briley, University of Sydney, Australia
Previous literature has found that lucky experiences have a paradoxical effect on expectations of future performance. These results are quite similar to findings in the self-esteem literature concerning ego-threat. This research investigates whether cultural identity explains differences in sensitivity to luck and self-esteem using a risky decision task. We believe cultural identity matters in this domain since it determines control orientations. Two studies show that cultures with an internal locus of control engage in more risky decision-making when self-esteem is enhanced. On the other hand, cultures with an external locus of control make more risky choices when they believe that they are personally lucky.
[ to cite ]:
Ana Valenzuela, Peter Darke, and Donnel Briley (2007) ,"Cultural Identity and the Antecedents of Risky Decision-Making: Am I Good Or Lucky?", in NA - Advances in Consumer Research Volume 34, eds. Gavan Fitzsimons and Vicki Morwitz, Duluth, MN : Association for Consumer Research, Pages: 147-162.