Department of Political Science

Framing Political Risks: Individual Differences and Loss Aversion in Personal and Political Situations

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Framing Political Risks : Individual Differences and Loss Aversion in Personal and Political Situations. / Osmundsen, Mathias; Petersen, Michael Bang.

In: Political Psychology, Vol. 41, No. 1, 02.2020, p. 53-70.

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@article{9a4026d7e310476fabab0f5608d31248,
title = "Framing Political Risks: Individual Differences and Loss Aversion in Personal and Political Situations",
abstract = "People are motivated to avoid losses. In the context of politics, studies consistently show that the threat of losses increases support for risky public policies more than the promise of gains. Here, we predict that this loss aversion is calibrated by individual differences related to one{\textquoteright}s ability to accommodate resource loss, and we investigate how these individual differences moderate reactions to the threat of losses and the promise of gains. Results from large-N experiments consistently demonstrate that this moderation effect crucially depends on whether the resource loss relates to oneself or one{\textquoteright}s group—whether the setting is personal or political. Consistent with classic assumptions, individuals with inferior abilities to cope with resource loss are more loss averse in personal settings. In political settings where group resources are threatened, effects reverse: Individuals with superior resources and a more central position within the group consistently respond more to the prospect of loss. As discussed, these findings have important implications for our understanding of why and for whom the threat of loss motivates risky personal and political choices. By consequence, the findings also shed novel light on the psychological underpinnings of recent risky political events.",
keywords = "framing, individual differences, loss aversion, political persuasion, risk taking",
author = "Mathias Osmundsen and Petersen, {Michael Bang}",
year = "2020",
month = feb,
doi = "10.1111/pops.12587",
language = "English",
volume = "41",
pages = "53--70",
journal = "Political Psychology",
issn = "0162-895X",
publisher = "Wiley-Blackwell Publishing, Inc.",
number = "1",

}

RIS

TY - JOUR

T1 - Framing Political Risks

T2 - Individual Differences and Loss Aversion in Personal and Political Situations

AU - Osmundsen, Mathias

AU - Petersen, Michael Bang

PY - 2020/2

Y1 - 2020/2

N2 - People are motivated to avoid losses. In the context of politics, studies consistently show that the threat of losses increases support for risky public policies more than the promise of gains. Here, we predict that this loss aversion is calibrated by individual differences related to one’s ability to accommodate resource loss, and we investigate how these individual differences moderate reactions to the threat of losses and the promise of gains. Results from large-N experiments consistently demonstrate that this moderation effect crucially depends on whether the resource loss relates to oneself or one’s group—whether the setting is personal or political. Consistent with classic assumptions, individuals with inferior abilities to cope with resource loss are more loss averse in personal settings. In political settings where group resources are threatened, effects reverse: Individuals with superior resources and a more central position within the group consistently respond more to the prospect of loss. As discussed, these findings have important implications for our understanding of why and for whom the threat of loss motivates risky personal and political choices. By consequence, the findings also shed novel light on the psychological underpinnings of recent risky political events.

AB - People are motivated to avoid losses. In the context of politics, studies consistently show that the threat of losses increases support for risky public policies more than the promise of gains. Here, we predict that this loss aversion is calibrated by individual differences related to one’s ability to accommodate resource loss, and we investigate how these individual differences moderate reactions to the threat of losses and the promise of gains. Results from large-N experiments consistently demonstrate that this moderation effect crucially depends on whether the resource loss relates to oneself or one’s group—whether the setting is personal or political. Consistent with classic assumptions, individuals with inferior abilities to cope with resource loss are more loss averse in personal settings. In political settings where group resources are threatened, effects reverse: Individuals with superior resources and a more central position within the group consistently respond more to the prospect of loss. As discussed, these findings have important implications for our understanding of why and for whom the threat of loss motivates risky personal and political choices. By consequence, the findings also shed novel light on the psychological underpinnings of recent risky political events.

KW - framing

KW - individual differences

KW - loss aversion

KW - political persuasion

KW - risk taking

U2 - 10.1111/pops.12587

DO - 10.1111/pops.12587

M3 - Journal article

VL - 41

SP - 53

EP - 70

JO - Political Psychology

JF - Political Psychology

SN - 0162-895X

IS - 1

ER -