Abstract
Two risk-taking measures (preferential choice question and willing to pay question) as well as two measures of the level of overconfidence (general knowledge question and peer comparison question) were designed to test whether the S21 and Kiasuism play a role in influencing Singaporeans’ decision-making. The overall results suggest that S21 give more risk seeking advice while kiasuism provide stronger overconfidence advice. The implications of these findings were discussed and compared, in some detail, with other existing evidence which revealed that (a) people in Asian cultures (e.g., Chinese) were more risk-seeking and more overconfident than people in other cultures (e.g., in United States) and (b) Singaporeans’ overconfidence level is comparable to Americans’ and lower than the other Asian subject groups like Indians, Taiwan Chinese and Mainland Chinese.
