Preferences for rank in competition: Is first-place seeking stronger than last-place aversion?
The use of gamification to motivate engagement has greatly increased the number of ways in which people compete. Many of these competitions allow individuals to see how they rank as a competition progresses. Our work aims to provide a better understanding of how individuals feel about different rank...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2020-03-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | http://journal.sjdm.org/19/190417a/jdm190417a.pdf |
| _version_ | 1797712494934884352 |
|---|---|
| author | Steven M. Shechter David J. Hardisty |
| author_facet | Steven M. Shechter David J. Hardisty |
| author_sort | Steven M. Shechter |
| collection | DOAJ |
| description | The use of
gamification to motivate engagement has greatly increased the number of ways in
which people compete. Many of these competitions allow individuals to see how
they rank as a competition progresses. Our work aims to provide a better
understanding of how individuals feel about different rank outcomes in
competitions. We do this by applying the principles of expected utility theory
to elicit utility curves for over 3,000 people across three studies using
hypothetical competition scenarios. We find consistent support for the
following generalizations: 1) individuals are risk-seeking when in second
place, 2) they are risk-averse when in second-to-last place, and 3) the utility
decrease going from first to second place is greater than their decrease going
from second-to-last to last place. Our results suggest individuals are both
last-place averse and first-place seeking, with an even stronger inclination
towards the latter. |
| first_indexed | 2024-03-12T07:22:38Z |
| format | Article |
| id | doaj.art-cf0e2d1903524a6aa72339222caa81bf |
| institution | Directory Open Access Journal |
| issn | 1930-2975 |
| language | English |
| last_indexed | 2024-03-12T07:22:38Z |
| publishDate | 2020-03-01 |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Judgment and Decision Making |
| spelling | doaj.art-cf0e2d1903524a6aa72339222caa81bf2023-09-02T22:19:02ZengCambridge University PressJudgment and Decision Making1930-29752020-03-01152246253Preferences for rank in competition: Is first-place seeking stronger than last-place aversion?Steven M. ShechterDavid J. HardistyThe use of gamification to motivate engagement has greatly increased the number of ways in which people compete. Many of these competitions allow individuals to see how they rank as a competition progresses. Our work aims to provide a better understanding of how individuals feel about different rank outcomes in competitions. We do this by applying the principles of expected utility theory to elicit utility curves for over 3,000 people across three studies using hypothetical competition scenarios. We find consistent support for the following generalizations: 1) individuals are risk-seeking when in second place, 2) they are risk-averse when in second-to-last place, and 3) the utility decrease going from first to second place is greater than their decrease going from second-to-last to last place. Our results suggest individuals are both last-place averse and first-place seeking, with an even stronger inclination towards the latter.http://journal.sjdm.org/19/190417a/jdm190417a.pdfrank competition social comparisons expected utility theory prospect theory winner effect nakeywords |
| spellingShingle | Steven M. Shechter David J. Hardisty Preferences for rank in competition: Is first-place seeking stronger than last-place aversion? Judgment and Decision Making rank competition social comparisons expected utility theory prospect theory winner effect nakeywords |
| title | Preferences for rank
in competition: Is first-place seeking stronger than last-place
aversion? |
| title_full | Preferences for rank
in competition: Is first-place seeking stronger than last-place
aversion? |
| title_fullStr | Preferences for rank
in competition: Is first-place seeking stronger than last-place
aversion? |
| title_full_unstemmed | Preferences for rank
in competition: Is first-place seeking stronger than last-place
aversion? |
| title_short | Preferences for rank
in competition: Is first-place seeking stronger than last-place
aversion? |
| title_sort | preferences for rank in competition is first place seeking stronger than last place aversion |
| topic | rank competition social comparisons expected utility theory prospect theory winner effect nakeywords |
| url | http://journal.sjdm.org/19/190417a/jdm190417a.pdf |
| work_keys_str_mv | AT stevenmshechter preferencesforrankincompetitionisfirstplaceseekingstrongerthanlastplaceaversion AT davidjhardisty preferencesforrankincompetitionisfirstplaceseekingstrongerthanlastplaceaversion |