A Closer Look on the Relation Between Nostalgia and Risk-Taking.

Building on the work of Zou et al. we (re-)investigated the relation between nostalgia and financial risk-taking across three preregistered, well-powered studies (overall 2,804). In Studies 1 and 2, we first tested whether nostalgia fosters or hampers dysfunctional or functional financial risk-taking. Finding no evidence to suggest that nostalgia fosters or hampers neither functional nor dysfunctional financial risk-taking, we tested in Study 3 if the link between nostalgia and financial risk-taking reported by Zou et al. could be replicated and extended to other domains of risk-taking. By and large, the relation between nostalgia and financial risk-taking could not be replicated nor extended to any other domains of risk-taking. Combined, the results nourish doubt on the robustness of the link between nostalgia and risk-taking observed by Zou et al.