Do our risk preferences change when we make decisions for others? A meta-analysis of self-other differences in decisions involving risk.

ABSTRACT:

Background

Are we more risk-averse or risk-seeking when we make decisions on behalf of other people as opposed to ourselves? So far, findings have not been able to provide a clear and consistent answer.

Method

We propose a meta-analysis to assess whether self-other differences vary according to particular features of the decision. We reviewed 78 effect sizes from 49 studies (7,576 participants).

Results

There was no overall self-other difference, but there were moderating effects of domain and frame. Decisions in the interpersonal domain were more risk-averse for self than for other. Decisions in the medical domain were more risk-seeking for self than for other. There were no overall self-other differences in the financial domain, however there was a moderating effect

SUBMITTER: Batteux E 

PROVIDER: S-EPMC6505775 | biostudies-literature | 2019

REPOSITORIES: biostudies-literature