UM  > Faculty of Social Sciences  > DEPARTMENT OF PSYCHOLOGY
Chinese are more loss averse than British
Guo,Tieyuan1; Spina,Roy2
2019-06-19
Source PublicationAsian Journal of Social Psychology
ISSN1467839X 13672223
Volume19Issue:2Pages:154-162
Abstract

This research investigates how culture might influence loss aversion. Chinese were expected to be more loss averse than British because of cultural differences in regulatory focus. Study 1 reveals that compared with British participants, Chinese participants were less likely to give up gifts they had received in exchange for new gifts. In Study 2, Chinese and British participants imagined buying a computer which either had a high specification and a high price tag (high reference), or a basic specification and a low price tag (low reference). Participants were informed that the (reference) computer was unavailable, and they had to choose between two available computers, which were both cheaper and less powerful than the high reference computer, and more expensive and more powerful than the low reference computer. The results reveal that the difference in price tag between the two available computers had a bigger impact on Chinese buying decisions than on British buying decisions when it was viewed as a loss. Furthermore, both promotion focus and prevention focus mediated the influence of culture on buying decisions in the low reference condition. No cross-cultural difference was found in the high reference condition.

KeywordCulture Loss Aversion Regulatory Focus
DOI10.1111/ajsp.12129
URLView the original
Indexed BySSCI
Language英语
WOS Research AreaPsychology
WOS SubjectPsychology, Social
WOS IDWOS:000373002800008
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Cited Times [WOS]:0   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF PSYCHOLOGY
Corresponding AuthorGuo,Tieyuan
Affiliation1.PsychologyUniversity of Macau,Macao,Macao
2.PsychologyUniversity of Chichester,Chichester,United Kingdom
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Guo,Tieyuan,Spina,Roy. Chinese are more loss averse than British[J]. Asian Journal of Social Psychology,2019,19(2):154-162.
APA Guo,Tieyuan,&Spina,Roy.(2019).Chinese are more loss averse than British.Asian Journal of Social Psychology,19(2),154-162.
MLA Guo,Tieyuan,et al."Chinese are more loss averse than British".Asian Journal of Social Psychology 19.2(2019):154-162.
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