Peer pressure likely fuelled GameStop saga: study
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An Australian academic study has concluded that young adults take more risks when being observed by peers, helping to explain the âsocial tradingâ phenomenon taking global financial markets by storm.
Behavioural economists at the University of Sydney published evidence that people aged 18 to 24 make more âwelfare-decreasing decisionsâ when in the presence of people their own age.
The study asked 62 Generation Z individuals, mostly Sydney University students and equally split by gender, 120 questions involving a choice between a fixed amount of money and a lottery that offered either a smaller or larger amount, with a 50 per cent probability of each.