Risk Under Pressure Study
Validates · Links 1→3 · Pressure → Bias → Decision Distortion
Tests whether different pressure conditions change risk-taking, confidence, and decision quality relative to a baseline.
What is being tested?
Whether time pressure, social evaluation, and loss framing each shift risk-taking, confidence calibration, and herding away from a control baseline.
What did we find?
Preliminary (demo) results suggest loss framing is the largest mover, pulling risk down and widening the confidence gap, while social evaluation most increases herding. To be confirmed with collected data.
Why does it matter?
It is the core validation step: if pressure distorts individual choices in a structured way, the framework's first three links hold and the market-level question becomes worth asking.
Output package
Demo dataExecutive summary: readable insights
- Loss framing produced the most risk-avoidant behavior (mean risk 39 vs. 52 control), the single largest condition effect.
- Confidence decoupled from accuracy most under loss framing and time pressure (gaps of +15 and +12 points).
- Social evaluation drove the strongest herding response (+21 vs. +8 control), consistent with H3.
- Net read: pressure does not raise or lower risk uniformly. Each condition distorts a different part of the decision.
Summary statistics
| Condition | n | Risk (SD) | Conf. gap | Herding |
|---|---|---|---|---|
| Control | 64 | 52 (18) | +4 | +8 |
| Time Pressure | 60 | 61 (22) | +12 | +14 |
| Social Evaluation | 62 | 47 (19) | +9 | +21 |
| Loss Framing | 62 | 39 (17) | +15 | +17 |
Regression summary
| Term | β | SE |
|---|---|---|
| Time Pressure | +9.1* | 3.6 |
| Social Evaluation | −4.8 | 3.5 |
| Loss Framing | −13.2*** | 3.4 |
| Numeracy (z) | +2.1 | 1.5 |
| Constant (control mean) | 52.0*** | 2.4 |
* p<.05 ** p<.01 *** p<.001 · Coefficients are change in risk score (0-100) vs. the control group. Demo estimates.
Dataset preview
| id | condition | risk | confidence | accuracy | herding |
|---|---|---|---|---|---|
| p001 | Control | 55 | 66 | 63 | 6 |
| p002 | Time Pressure | 64 | 78 | 61 | 12 |
| p003 | Social Evaluation | 44 | 72 | 60 | 24 |
| p004 | Loss Framing | 37 | 74 | 57 | 18 |
| p005 | Loss Framing | 41 | 70 | 59 | 15 |
Clean dataset (CSV)
Available after data review
Summary statistics (PDF)
Available after data review
Regression tables (PDF)
Available after data review
Executive summary (PDF)
Available after data review
Conditions
- Control
- Time Pressure
- Social Evaluation
- Loss Framing
Measures
- Risk tolerance
- Choice consistency
- Confidence calibration
- Herding tendency
- Loss sensitivity
- Reaction time (where available)
Hypotheses
- H1: Time pressure increases variance in risk-taking and reduces choice consistency relative to control.
- H2: Loss framing shifts choices toward risk-avoidance and raises loss sensitivity.
- H3: Social evaluation increases herding tendency and widens the confidence-accuracy gap.
Variables
| Variable | Type | Description |
|---|---|---|
| Pressure condition | Independent | Randomly assigned: control, time pressure, social evaluation, or loss framing. |
| Risk score | Dependent | Composite of allocation choices across paired gamble tasks (0-100). |
| Confidence gap | Dependent | Stated confidence minus realized accuracy on judgment items. |
| Herding tendency | Dependent | Shift toward displayed group consensus after it is revealed. |
| Numeracy | Control | Short numeracy check used as a covariate, not a screen. |
Sample decision tasks
Task 01
Choose between a guaranteed $40 and a 50% chance of $100 (otherwise $0).
Repeated across gain and loss frames to estimate reference dependence.
Task 02
Rate your confidence (0-100%) that your previous answer was the better choice.
Paired with realized outcomes to compute calibration.
Task 03
A group of prior participants mostly chose Option B. Do you want to revise your choice?
Isolates willingness to follow revealed consensus.
Participant recruitment
- Financial Analytics Club
- Athletic teams
- School mailing lists
- Social media
Sample size & power
Target N ≈ 240-280 (≈60-70 per condition). Pilot N = 48 complete. Powered to detect medium between-condition differences (d ≈ 0.5) at α = .05.
Assumptions
- Simulated pressure (timers, observation, framing) meaningfully proxies real-world stress.
- Composite risk score captures the construct better than any single task.
- Random assignment balances unobserved traits across conditions.
Methodology note
Ethics note
Theory anchor