Societal reminiscence and decisions for a better society: A belief in progress explanation

Canice M.C. Kwan, Shirley Y.Y. Cheng and Alex S.L. Tsang

Journal of Business Research, 2023, vol. 154, issue C

Abstract: This research investigates how reminiscing a society's past can encourage risk taking for the society. In one field study and four experiments, we show that encountering objects or appeals linked to their society’s past can lead individuals to become more risk taking and to choose less certain but potentially better options in decisions for society. This effect is mitigated when the reminiscence concerns one’s personal past and when the decisions concern personal welfare. It can also be mitigated by heightening or suppressing the belief that society has progressed. Our findings validate belief in progress as a novel explanation, suggesting that the thoughts evoked in reminiscence supplement their emotional counterparts such as nostalgic and upbeat feelings in altering how decisions are made. This investigation has pragmatic implications for designing past-linked appeals in advertising and branding as well as in advocacy for social change or innovation.

Keywords: Reminiscence; Nostalgia; Belief in Progress; Risk Preference; Policy Endorsement; Advertising (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:154:y:2023:i:c:s014829632200830x

DOI: 10.1016/j.jbusres.2022.113365

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