If you are risk adverse, you might want to reconsider taking advice from the top floor, since people at higher elevations in an office building are more willing to take financial risks.
In a series of experiments, researchers found that people at higher elevations in an office building were more willing to take financial risks. The study is available online in the Journal of Consumer Psychology.
“When you increase elevation, there is a subconscious effect on the sense of power,” says lead author Sina Esteky, PhD, an assistant professor of marketing in the business school at Miami University. “This heighted feeling of power results in more risk-seeking behavior.”
In a pilot study, the researchers analyzed data from more than 3,000 hedge funds throughout the world that accounted for assets over $500 billion. They correlated the level of volatility of the fund with the floor level of the firm — which ranged from the first to the 96th floor. The researchers found a slight but significant correlation between increased elevation and the volatility of the fund.