Sekścińska Katarzyna, Rudzinska-Wojciechowska Joanna, Maison Dominika Agnieszka
Faculty of Psychology, University of Warsaw, Warsaw, Poland.
Wroclaw Faculty of Psychology, SWPS University of Social Sciences and Humanities, Wroclaw, Poland.
Front Psychol. 2018 Jun 5;9:920. doi: 10.3389/fpsyg.2018.00920. eCollection 2018.
Willingness to take risk is one of the most important aspects of personal financial decisions, especially those regarding investments. Recent studies show that one's perception of time, specifically the individual level of Present Hedonistic and Future Time Perspectives (TPs), influence risky financial choices. This was demonstrated for both, Time Perspective treated as an individual trait and for experimentally induced Time Perspectives. However, on occasion, people might find themselves under the joint influence of both, chronic and situational Time Perspectives and little is known about interactions between them. The paper focuses on the interplay between chronic and induced levels of Future and Present Hedonistic TPs in explaining people's propensity to take investment risks. An experimental study using a Polish national random-quota sample was conducted. The results showed that situationally induced Future TP lowered the preferred level of portfolio riskiness while situationally induced Present Hedonistic TPs resulted in exactly the opposite effect, and that the higher level of chronic Present Hedonistic TP was linked to higher investment risk preferences. The role of the chronic Present Hedonistic TP was moderated by the situationally induced Future (approaching significance) and Present Hedonistic TPs. The induction of these TPs resulted in reduction of the propensity to take investment risks. The study adds to the literature on psychological factors influencing the propensity to take financial risk. The results are also important for researchers who experimentally manipulate variables that might be also considered as chronic traits. They indicate that whether the manipulation is congruent with one's natural tendencies may have a differential impact on subsequent measures.
冒险意愿是个人财务决策中最重要的方面之一，尤其是那些与投资有关的决策。最近的研究表明，一个人对时间的认知，特别是当下享乐主义和未来时间观（TPs）的个体水平，会影响有风险的财务选择。这在将时间观视为个体特质以及实验诱导的时间观这两种情况下都得到了证明。然而，有时人们可能会发现自己同时受到长期和情境性时间观的共同影响，而关于它们之间的相互作用却知之甚少。本文聚焦于未来和当下享乐主义时间观的长期水平与诱导水平之间的相互作用，以解释人们承担投资风险的倾向。我们使用波兰全国随机配额样本进行了一项实验研究。结果表明，情境诱导的未来时间观降低了投资组合风险的偏好水平，而情境诱导的当下享乐主义时间观则产生了完全相反的效果，并且较高水平的长期当下享乐主义时间观与较高的投资风险偏好相关。长期当下享乐主义时间观的作用受到情境诱导的未来（接近显著水平）和当下享乐主义时间观的调节。这些时间观的诱导导致承担投资风险的倾向降低。该研究为影响承担财务风险倾向的心理因素文献增添了内容。研究结果对于那些通过实验操纵可能也被视为长期特质的变量的研究人员也很重要。它们表明，操纵是否与一个人的自然倾向一致可能会对后续测量产生不同的影响。
