TY - JOUR
T1 - Psychological momentum and risky decision-making
AU - Guenther, Corey L.
AU - Kokotajlo, Christopher
N1 - Funding Information:
We would like to thank the Creighton University Center for Undergraduate Research and Scholarship, who kindly provided funding support for this research. We would also like to thank reviewers for their helpful feedback on an earlier version of this manuscript.
Publisher Copyright:
© 2017 Wiley Periodicals, Inc.
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2017/10/1
Y1 - 2017/10/1
N2 - Psychological momentum (PM) is construed as an extra-individual phenomenon capable of elevating performance in a variety of achievement contexts including athletics, politics, and investing. Although generally perceived as a performance-enhancing phenomenon, the present study tested whether one counterintuitive downside to developing PM is that it enhances risky decision-making—by way of eliciting heightened confidence—within these contexts. Findings from one study support this prediction. Participants induced to experience PM prior to a card-matching task with financial implications (chances to win $100 gift cards) made riskier gameplay decisions than those experiencing less PM. Critically, PM ratings were positively associated with task confidence, which in turn, mediated the relationship between PM and risk-taking. Directions for future research and implications for decision-making in sport, political, clinical, and investment domains are discussed.
AB - Psychological momentum (PM) is construed as an extra-individual phenomenon capable of elevating performance in a variety of achievement contexts including athletics, politics, and investing. Although generally perceived as a performance-enhancing phenomenon, the present study tested whether one counterintuitive downside to developing PM is that it enhances risky decision-making—by way of eliciting heightened confidence—within these contexts. Findings from one study support this prediction. Participants induced to experience PM prior to a card-matching task with financial implications (chances to win $100 gift cards) made riskier gameplay decisions than those experiencing less PM. Critically, PM ratings were positively associated with task confidence, which in turn, mediated the relationship between PM and risk-taking. Directions for future research and implications for decision-making in sport, political, clinical, and investment domains are discussed.
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U2 - 10.1002/jts5.7
DO - 10.1002/jts5.7
M3 - Article
AN - SCOPUS:85052659150
VL - 1
SP - 43
EP - 51
JO - Journal of Theoretical Social Psychology
JF - Journal of Theoretical Social Psychology
SN - 2475-0387
IS - 2
ER -