Social context influences decision-makers' willingness to take risks

Do differences in performance have an impact on the appetite for risk-taking in decision-makers? Economists at the University of Göttingen have addressed this question. The result of their study is that people's willingness to take risks increases as soon as they get a lower return than other people with whom they compare themselves. At the same time, decision-makers take lower risks if they get a higher return than their peers. The study was published in the journal Games and Economic Behavior.

source https://www.lifetechnology.com/blogs/life-technology-news-blog/social-context-influences-decision-makers-willingness-to-take-risks