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The Collective Trust Game: An Online Group Adaptation of the Trust Game Based on the HoneyComb Paradigm
06:18

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Published on: October 20, 2022

Reducing exposure to trust-related risks to avoid self-blame.

Daniel A Effron1, Dale T Miller

  • 1Stanford University, Stanford, CA 94305, USA. effron@stanford.edu

Personality & Social Psychology Bulletin
|January 18, 2011
PubMed
Summary

Anticipating self-blame makes people more cautious with risks involving trust. Trust violations increase self-blame and lead to more conservative decisions, impacting financial and game-based risks.

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Area of Science:

  • Decision Sciences
  • Behavioral Economics
  • Social Psychology

Background:

  • Trust is fundamental in economic and social interactions.
  • Understanding decision-making under risk is crucial for various fields.
  • Self-blame influences risk perception and behavior.

Purpose of the Study:

  • To investigate how anticipated self-blame affects risk-taking decisions.
  • To examine the role of trust violations in decision-making.
  • To differentiate self-blame from other factors influencing risk aversion.

Main Methods:

  • Three experimental studies were conducted.
  • Participants made decisions in scenarios involving financial investment and economic games.
  • Anticipated and experienced self-blame were measured and analyzed as mediators.

Main Results:

  • Anticipated self-blame led to more conservative decisions when risks involved trust (e.g., fraud, reliance on others) compared to identical risks without trust.
  • Self-blame mediated the effect of trust violations on risk aversion.
  • Experiencing a loss that violated trust amplified self-blame and subsequent conservative decision-making.

Conclusions:

  • Anticipated self-blame is a significant driver of conservative risk-taking, particularly when trust is involved.
  • Trust violations have a potent motivational impact, increasing self-blame and risk aversion.
  • Findings contribute to understanding the psychological underpinnings of trust and decision-making under uncertainty.