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Asian Risk Seeking and Overconfidence 1
Author(s) -
Li Shu,
Bi YanLing,
Zhang Yuching
Publication year - 2009
Publication title -
journal of applied social psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.822
H-Index - 111
eISSN - 1559-1816
pISSN - 0021-9029
DOI - 10.1111/j.1559-1816.2009.00545.x
Subject(s) - overconfidence effect , argument (complex analysis) , psychology , social psychology , cushion , positive economics , demography , economics , sociology , history , medicine , archaeology
Weber & Hsee (1998) proposed the “cushion effect” as an explanation of the higher risk taking observed in some East Asian samples, relative to Western samples. Yates, Lee, & Shinotsuka (1992) proposed that the overconfidence observed in most Asian countries, relative to Western countries, reflects differences in the number of arguments typically recruited in those countries. This study examined the 2 seemingly separated domains of research: risk taking and overconfidence. It compared individual and collective (both family and group) decisions among Chinese in Singapore. This permitted tests of both the cushion and the argument recruitment hypotheses. The overall results obtained no support for the cushion effect and partial support for the argument recruitment hypotheses.