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Show Me the Honey! Effects of Social Exclusion on Financial Risk-Taking
Rod Duclos, Echo Wen Wan and Yuwei Jiang
Journal of Consumer Research
Vol. 40, No. 1 (June 2013), pp. 122-135
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/10.1086/668900
Page Count: 14
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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.
© 2012 by JOURNAL OF CONSUMER RESEARCH, Inc.