The Effect of Self-Affirmation and Optimism Toward Risk Aversion

Publication Information

Journal Title: Asian Journal of Multidisciplinary Research & Review
Author(s): Wanchun Wu
Published On: 29/11/2022
Volume: 3
Issue: 6
First Page: 51
Last Page: 60
ISSN: 2582-8088
Publisher: The Law Brigade Publisher

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Cite this Article

Wanchun Wu, The Effect of Self-Affirmation and Optimism Toward Risk Aversion, Volume 3 Issue 6, Asian Journal of Multidisciplinary Research & Review, 51-60, Published on 29/11/2022, Available at https://ajmrr.thelawbrigade.com/article/the-effect-of-self-affirmation-and-optimism-toward-risk-aversion/

Abstract

Evidence suggests, self-affirmation and optimism have an effect on risk taking. The purpose of this research was to further explore the reliability of these effects, to add further understanding to the research area. Ninety students were randomly allocated to the self- affirmation or control conditions, and the Extended Life Orientation Test (ELOT) was used to measure optimism scores. Individuals with high levels of optimism and self-affirmation were predicted to have lower risk aversion scores. A significant main effect of self-affirmation on risk aversion was found. Both low optimism and high optimism groups are negatively correlated with risk aversion. The current research does not, however, support the hypothesis that optimistic individuals showed decreased levels of risk aversion. Overall, part of the findings were consistent with the past research, those who self-affirm are more prone to make riskier decisions.

Keywords: self-affirmation, optimism, risk aversion, extended life orientation test

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