Lonely Are the Brave: Effects of Social Exclusion on Consumer Risk-Taking

Echo Wen Wan, University of Hong Kong, China
Yuwei Jiang, Hong Kong Polytechnic University, China
Rod Duclos, HKUST, China
This research examines the impact of social exclusion on financial decision-making. In two experiments, we find that socially-excluded participants exhibit greater risk-taking tendencies (i.e., favor riskier investment opportunities) compared to socially-included and control participants. This effect occurs in both hypothetical and real choice-scenarios and is not mediated by affect.
[ to cite ]:
Echo Wen Wan, Yuwei Jiang, and Rod Duclos (2011) ,"Lonely Are the Brave: Effects of Social Exclusion on Consumer Risk-Taking", in NA - Advances in Consumer Research Volume 38, eds. Darren W. Dahl, Gita V. Johar, and Stijn M.J. van Osselaer, Duluth, MN : Association for Consumer Research.