The perceived impact of tax and regulatory changes

People believe that shared events, events that impact everyone to the same degree, will nonetheless impact them more than others. Across four studies we examined whether this impacts people's reactions to proposed changes to tax and regulatory policies. We found that participants thought that tax (Study 1a and 1b) and regulatory (Study 2) changes would have more of an impact on their own lives than on the lives of people in their same financial...