Temperature and Risk Taking (10-09-23)
Lundberg, Craig, and Peloza found that as temperatures climb, consumers make riskier decisions. They share that “Across four studies, we find evidence for a positive relationship between temperature and risk-taking, using multiple operationalizations of temperature and measurements of risk. . . . In particular, thermal imagery is promising, as the use of imagery is ubiquitous throughout the marketplace. . . . By leveraging the flexibility of warm thermal imagery, marketers may activate their patrons' inclination toward seeking rewards and taking more chances. . . .