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Boston College, Marketing, Faculty Member
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One construct validation study and four experiments showed that the relationship between hope and financial risk seeking depended on whether or not the possibility of a hoped-for outcome was threatened. Whereas high (vs. low) hope... more
One construct validation study and four experiments showed that the relationship between hope and financial risk seeking depended on whether or not the possibility of a hoped-for outcome was threatened. Whereas high (vs. low) hope decreased financial risk seeking when the possibility of a hoped-for outcome was not threatened, high (vs. low) hope increased financial risk seeking when the outcome's possibility was threatened. These effects were observed in different contexts (i.e., gambling, stock investing, bidding, retirement investing), when applying different operationalizations of hope and threats to possibility, and when controlling for alternative explanations. We also showed that individuals' motivations to either achieve gains or avoid losses mediated the effects of hope on financial risk seeking. This research, which is the first to study the role of hope in financial decision making, adds to the extant literature by underscoring the psychological impact of threats to the possibility of attaining a hoped-for financial outcome.
Research Interests: Psychology, Cognitive Science, Decision Making, Hope, Risk Taking, and 7 moreMotivation, Humans, Gambling, Female, Male, Young Adult, and Adult
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... 2006; Fujita et al. 2006; Vohs and Faber 2007). Of course, impulsive phenomena are not necessarily required in order for self-control of purchasing and consumption to be problematic (Ridgway et al. 2008; Shehryar et al. 2001). ...
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... The authors would like to thank Tilottama Chowdhury, Samuel MY Ho, Matt Wallaert, Rachael E. Wells, and the authors of the original Maximization ... Scale proposed in this paper will provide these researchers with a measure of the... more
... The authors would like to thank Tilottama Chowdhury, Samuel MY Ho, Matt Wallaert, Rachael E. Wells, and the authors of the original Maximization ... Scale proposed in this paper will provide these researchers with a measure of the construct that is brief, yet reliable and valid. ...
Participants: Josh Ackerman, Massachusetts Institute of Technology, Sloan School of Management, USA Raquel Castano, Tecnologico de Monterrey, EGADE Business School, Canada Nitika Garg, University of Mississippi, School of Business... more
Participants: Josh Ackerman, Massachusetts Institute of Technology, Sloan School of Management, USA Raquel Castano, Tecnologico de Monterrey, EGADE Business School, Canada Nitika Garg, University of Mississippi, School of Business Administration, USA Robert Kreuzbauer, Nanyang University, Nayang Business School), Singapore Aparna A. Labroo, University of Chicago, Booth School of Business, USA Angela Y. Lee, Northwestern University, Kellogg School of Management, USA Spike WS Lee, University of Michigan, ...