Third-person effects of Internet stock recommendations

Jaemin Jung1, Samsup Jo2
1Graduate School of Information and Media Management, Korea Advanced Institute of Science and Technology, Republic of Korea
2Department of Public Relations and AdvertisingGraduate School of Information and Media Management, Sookmyung Women’s University, Republic of Korea
Cite this article:  Jung, J., & Jo, S. (2013). Third-person effects of Internet stock recommendations. Social Behavior and Personality: An international journal, 41(9), 1435-1444.

Volume 41 Issue 9 | e3348 | Published: October 2013 | DOI: https://doi.org/10.2224/sbp.2013.41.9.1435

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In this study we empirically tested the effects of the use of third-person perceptions in the context of the stock market using a sample of 109 professional stock traders and 130 members of the lay public. Findings show that people perceived anonymous information recommending stocks on the Internet as having a greater influence on others than on themselves. Additionally, participants demonstrated a third-person perception when “others” were novice investors with little knowledge or experience in stock trading than when “others” were presumed to be experienced investors. Professional stock traders perceived a greater influence on others than did the lay public. We also found support for the relationship between third-person perceptions and attitudes toward support for warnings about anonymous information.

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