The minority decision — A risky choice

Objects are evaluated more extremely if they are rare. As minority positions represent low consensus (i.e., only few others agree), they are associated not only with high gains if correct, but also with high losses if wrong. This renders the minority position a risky option. Study 1 showed that participants judged making a minority decision as more risky than making a majority decision. Study 2 additionally showed that this effect was independent of potential monetary gains and losses. In Study 3, the effect generalized to social attitudes where a minority position was judged as more risky than a majority position. Implications are discussed with reference to literature on evaluative extremity, risk-taking, and minorities/majorities.