WINNER WINNER… penthouse level dinner?
This is Sandra Tsing Loh with the Loh Down on Science.
From casinos to Wall Street! Every day, gamblers and investors make high-stakes decisions that can have huge consequences or payouts. But could something unexpected be driving their decision-making?
Enter Sina Esteky from Miami University. His team studied how people’s rational thinking changes in TALL office buildings. They examined over three thousand hedge funds worldwide that handle billions of dollars. The group then correlated the VOLATILITY of the fund to the FLOOR the firm is on.
Results? People are more willing to take on higher financial risks as they go up in elevation. Why is that? Esteky found that people on top level floors FELT more powerful! This persuaded them to go in BIG!
What’s more interesting? When people are told about this high-elevation, they become more level-headed. Their newly heightened sense of power is deflated!
But when it comes to risking your retirement fund – don’t go all Dwayne Johnson in “Skyscraper.” Take the stairs — and come back down to earth.