Journal
FRONTIERS IN PSYCHOLOGY
Volume 7, Issue -, Pages -Publisher
FRONTIERS MEDIA SA
DOI: 10.3389/fpsyg.2016.01232
Keywords
social reference points; risky decision making; peer group influence; social framing; social comparison
Categories
Funding
- National Natural Science Fund of China [31471002]
- Natural Science Fund of Shandong Province of China [ZR2014CM033]
- Key R & D program in Shandong Province of China [2015GSF120015]
- Young People of Humanities and Social sciences of the Ministry of Education of China [15YJC190006]
- 'the 12th Five' Emphasis Subject of Development and Education Psychology of Shandong Province of China
- Tese Mingxiao Zhiliang Gongcheng project of Shandong Normal University of China
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This study explores the influence of different social reference points and different comparison group sizes on risky decision-making. Participants were presented with a scenario describing an exam, and presented with the opportunity of making a risky decision in the context of different information provided about the performance of their peers. We found that behavior was influenced, not only by comparison with peers, but also by the size of the comparison group. Specifically, the larger the reference group, the more polarized the behavior it prompted. In situations describing social loss, participants were led to make riskier decisions after comparing themselves against larger groups, while in situations describing social gain, they become more risk averse. These results indicate that decision making is influenced both by social comparison and the number of people making up the social reference group.
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