Third-person effects of Internet stock recommendations

• Jaemin Jung

  Korea Advanced Institute of Science and Technology

• Samsup Jo

  Sookmyung Women’s University

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.

1. Jaemin Jung, Korea Advanced Institute of Science and Technology

   Graduate School of Information and Media Management

2. Samsup Jo, Sookmyung Women’s University
   Department of Public Relations and AdvertisingGraduate School of Information and Media Management

• PDF
  (USD 29)