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

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. We propose a meta-analysis to assess whether self-other differences vary according to particular features of...

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Veröffentlicht in:PloS one 2019-05, Vol.14 (5), p.e0216566-e0216566
Hauptverfasser: Batteux, Eleonore, Ferguson, Eamonn, Tunney, Richard J
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Ferguson, Eamonn
Tunney, Richard J
description 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. 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). 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 of frame: decisions in a gain frame were more risk-averse for self than other whereas decisions in a loss frame were more risk-seeking for self than other. This effect of frame was slightly different overall and in the medical domain, where self-other differences occurred in a loss frame but not in a gain frame. Future work should continue to investigate how the specific content and context of the decision impacts self-other differences in order to understand the effects of domain and frame we report.
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subjects Analysis
Biology and Life Sciences
Choice Behavior
Confidence intervals
Decision analysis
Decision Making
Decisions
Financial Management
Humans
Internet
Interpersonal Relations
Medical ethics
Medicine
Medicine and Health Sciences
Meta-analysis
Meta-Analysis as Topic
Models, Theoretical
Physical Sciences
Research and Analysis Methods
Research methodology
Risk
Risk aversion
Risk perception
Risk taking
Science Policy
Social Sciences
Systematic review
title Do our risk preferences change when we make decisions for others? A meta-analysis of self-other differences in decisions involving risk
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