Self-control and financial risk taking |
| |
Affiliation: | 1. Faculty of Psychology, University of Warsaw, Stawki 5/7, 00183 Warsaw, Poland;2. Centre for Economic Psychology and Decision Sciences, Kozminski University, Jagiellonska 57, 03301Warsaw, Poland |
| |
Abstract: | We report two studies investigating the role of self-control in risky financial decision-making, operationalized as incentivized lottery task decisions. Study 1 (N = 529) investigated the link between propensity to take financial risks and trait self-control. Study 2 (N = 321) examined whether reflecting on one’s prior successes and failures in exercising self-control has an impact on subsequent risky financial decision-making. Study 1 identified a negative link between self-control and financial risk-taking, and Study 2 found that reflecting on self-control successes lowered people’s propensity to take financial risks, while reflecting on self-control failures made people more prone to take financial risks. |
| |
Keywords: | Self-control Financial risk-taking Lottery choices D1 D19 D14 G5 G4 G40 |
本文献已被 ScienceDirect 等数据库收录! |
|