Self-promotion hypothesis: The impact of self-esteem on self–other discrepancies in decision making under risk

Abstract

This study aimed at investigating the role of self-esteem in self–other decision making under risk. A sample of 117 participants selected from 626 undergraduate students as a function of their Rosenberg Self-Esteem Scale scores completed a modified version of the cups task, in which participants were required to choose between a risky and a sure option for themselves or others. We found that the participants with high self-esteem (HSE) made more risk-seeking decisions than those with low self-esteem (LSE), and participants made more risk-seeking decisions in loss situations than in gain situations. Furthermore, the LSE participants made more risk-averse decisions for themselves than for others in gain situations but made more risk-seeking decisions in loss situations. In contrast, HSE participants made more risk-seeking decisions for themselves than for others in gain situations but made more risk-averse decisions in loss situations. These findings revealed that self-esteem has a robust effect on self–other decision making. A self-promotion hypothesis was introduced to explain these findings.