【作者】 徐慧； 李美佳； 彭华茂；

【Author】 Hui Xu;Meijia Li;Huamao Peng;Institute of Developmental Psychology,Beijing Normal University;Faculty of Psychology and Center for Neuroscience,Vrije Universiteit Brussel;

【机构】 北京师范大学发展心理研究院； 布鲁塞尔自由大学心理学院神经科学中心；

【摘要】 近些年来,互联网理财行业快速发展,人们的经济意识日渐增强,对互联网使用较为熟练的年轻人正成为互联网理财消费的重要群体。年轻用户虽然在数量上占据优势,但在实际收益方面的表现却逊于中老年投资者,这在一定程度上反映了年轻投资者在理性决策方面存在的不足。以往研究表明,眼睛注视作为极其常见的社会线索之一,对促进理性决策具有一定作用。因此,为更好地了解年轻用户在线上投资的决策偏好与影响因素,探索降低年轻人在风险情境下非理性决策的方法,本研究采用改编自"亚洲疾病问题"的基金购买框架任务,在北京地区招募133名平均年龄23.50岁的年轻被试参与实验,考察不同情绪类型的眼睛注视与框架类型(获益框架,损失框架)对年轻人框架效应及风险倾向的影响。结果发现,所有被试均表现出框架效应,且消极注视增强了被试的框架易感性,即消极眼睛组被试的框架效应显著强于非消极眼睛组。同时,所有被试在损失框架下的风险寻求倾向均高于获益框架条件,消极注视仅在损失框架下促进了被试的风险寻求行为。上述结果表明,不同情绪类型的眼睛注视线索会与框架类型对个体的风险决策产生共同作用。这也为促进个体的理性决策提供了新的思路,即通过适当操纵社会线索影响投资者的风险决策,从而达到降低框架效应,促进投资者理性消费的目的。更多还原

【Abstract】 In recent years, the rapid development of online financial management attracts lots of new investors to join in, especially young people. How to make rational decisions in fund investment remains an unsolved problem.Previous studies have suggested that eye gaze made sense in sustaining prosocial behavior and promoting rational decision making. However, most studies focused on the effect of the watching eye, ignoring the fact that eye gaze often comes with emotion in real life. Given the importance of emotion in the decision-making process, in the present study, we hypothesized that 1) comparing to the control group, eye gaze might decrease ones’ framing effect,especially positive eye gaze; 2) emotional eye gaze might influence ones’ decision-making process, decision makers preferred deliberative processes when being watched; 3) emotional eye gaze might affect ones’ risk-seeking tendency under different frames, being related to sensitivity to loss, positive eye gaze might decrease ones’ risk-seeking behavior under the loss frame, and negative eye gaze was just the opposite. To test above the hypotheses and explore how emotional eye gaze influences young investors’ framing effect in fund investment, 133 healthy young participants with a mean age of 23.50 years were recruited and randomly assigned to four groups to perform the fund decision-making task. The present study created fund decision scenarios adopted from the "Asian Disease Problem"paradigm, and further explored the possible influence of emotional eye gaze on risk-seeking tendency and different frame(e.g., gain/loss). Eye movement measures, such as the number of fixations, were used to explore participants’ attention allocation to decision materials. The results on framing effect showed that the main effect of eye gaze was significant, which suggested that the framing effect was influenced by emotional eye gaze. Follow-up analyses revealed that the framing effect of the negative eye gaze group was significantly larger than that of the non-negative eye gaze groups(i.e., positive and neutral eye gaze group). Neutral eye gaze would significantly reduce the frame susceptibility comparing to the negative eye gaze group and the control group. In addition, there was no significant difference between the control group and the positive eye gaze group and negative eye gaze group, respectively.Considering participants’ risk-seeking tendency, the main effect of the frame was significant, suggesting that all participants exhibited framing effect. Moreover, the interaction between eye gaze(negative/positive/neutral eye gaze group and control group) and frame(gain/loss) was significant. Moreover, negative eye gaze nudged participants towards risk-seeking behaviors, and non-negative eye gaze decreased risk-seeking relatively in the loss frame, and there was no difference among the four groups in the gain frame. In conclusion, the present study confirmed that social cues(e.g., eye gaze) would interact with frame type to influence ones’ rational decision-making and risk-seeking behaviors. To be more specific, neutral eye gaze and positive eye gaze led to relatively congruent decision-making and more risk aversion behaviors, but negative gaze raised risk-seeking behaviors. Our findings highlight the importance of emotional social gaze in decision making.更多还原