The Effect Of Social Exclusion On Individual Risk Preference

As a phenomenon widely existed in real life,social exclusion profoundly affect individual's cognition,behavior and emotion.The study of social exclusion is not only the need for academic development,but also the demand of a harmonious society.Previous study of social exclusion mainly focused on social and cognitive fields,but few people extended research into financial and decision-making fields.However,considering that consumption and decision-making are closely related to our lives,and that social exclusion is also an inevitable phenomenon in life,to explore the relationship between the two is of great significance.Therefore,on the one hand,this article focus on whether individual risk decision-making will be affected by social exclusion,and what is the specific mechanism within it;on the other hand,this article mean to analyze whether effects of different social exclusion on individual risk preference are the same,such as short-term social exclusion,long-term social exclusion,direct exclusion and indirect exclusion.In this paper,three experiments were carried out by means of experimental control and scenario questionnaire.This first experiment explored the relationship between short-term social exclusion and individual risk preference,and the mediating role of money attitude within it.In the second research,we used the method of questionnaire to explore that whether the impact of long-term social exclusion on risk preference is consistent with short-term social exclusion.And in the third experiment,we further verified the relationship between the two on the introduction of the variable of implicit trait beliefs.The main conclusions are given as follows:1.Short-term social exclusion positively affects individual risk preference.2.Long-term social exclusion positively affects individual risk preference.Whether it is direct social exclusion or indirect social exclusion,individual who experience more social exclusion has higher risk preference level.3.Money attitude plays a mediating role in the relationship between social exclusion and risk preference.4.Implicit trait belief plays a moderating role in the relationship between social exclusion and risk preference.Compared to the entity theorist,the incremental theorist is more inclined to projects of high risk and high returns after being excluded.