Show me the honey! Effects of social exclusion on financial risk-taking

Rod Duclos, Echo Wen Wan, Yuwei Jiang

Research output: Journal article publicationJournal articleAcademic researchpeer-review

81 Citations (Scopus)

Abstract

This research examines the effects of social exclusion on a critical aspect of consumer behavior, financial decision-making. Specifically, four lab experiments and one field survey uncover how feeling isolated or ostracized causes consumers to pursue riskier but potentially more profitable financial opportunities. These daring proclivities do not appear driven by impaired affect or self-esteem. Rather, interpersonal rejection exacerbates financial risk-taking by heightening the instrumentality of money (as a substitute for popularity) to obtain benefits in life. Invariably, the quest for wealth that ensues tends to adopt a riskier but potentially more lucrative road. The article concludes by discussing the implications of its findings for behavioral research as well as for societal and individual welfare.
Original languageEnglish
Pages (from-to)122-135
Number of pages14
JournalJournal of Consumer Research
Volume40
Issue number1
DOIs
Publication statusPublished - 1 Jun 2013

ASJC Scopus subject areas

  • Business and International Management
  • Anthropology
  • Arts and Humanities (miscellaneous)
  • Economics and Econometrics
  • Marketing

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