Physical Contact and Financial Risk-Taking

We show that minimal physical contact can increase people's sense of security and consequently lead them to increased risk-taking behavior. In three experiments, with both hypothetical and real payoffs, we show that a light, comforting pat on the shoulder by a female leads to greater financial risk-taking. Further, this effect was both mediated and moderated by feelings of security in both male and female participants. Finally, we establish the boundary conditions for the impact of physical contact on risk-taking behaviors by demonstrating that the effect does not occur when the touching is performed by a male and is attenuated when the type of touch is a handshake. The results suggest that subtle physical contact can be strongly influential in decision-making and the willingness to accept risk.