Vested interest (Crano, 1983; Crano & Prislin, 1995; Sivacek & Crano, 1982) is a communication theory that seeks to explain how certain hedonically relevant (Miller & Averbeck, 2013) attitudinal dimensions can influence and consistently predict behavior based on the degree of subjective investment an individual has in a particular attitude object. As defined by William Crano, vested interest refers to the degree to which an attitude object is deemed hedonically relevant by the attitude holder. According to Crano, "an attitude object that has important perceived personal consequences for the individual will be perceived as highly vested. Highly vested attitudes will be functionally related to behavior" (Crano, 1983). Simply put, when people have more at stake with the result of an object (like a law or policy) that will greatly affect them, they will behave in a way that will directly support or defy the object for the sake of their own self-interest.
For example, a 30-year-old learns that the legal driving age in his state is being raised from 16 to 17. While he may not agree with this proposed change, he is not affected as much as a 15-year-old would be and is unlikely to protest the change. A 15-year-old, however, has much to lose (waiting another year to get a driver license) and is more likely to vehemently oppose the new proposed law. To gather support for his position, a course of action the 15-year-old might take would be to tell other soon-to-be drivers about the new law, so that they collectively have a vested interest in perhaps changing the law. This example illustrates the point that highly vested attitudes concerning issues depend on the individual's point of view.
Another example of vested interest can be found in a study conducted by Berndsen, Spears and van der Pligt, which involves students from a University in Amsterdam where the teaching faculty proposed the use of English to teach the curriculum instead of Dutch. Vested interest, in this case, suggests that students would be opposed to the use of English rather than Dutch simply based on the potential impact lectures conducted in English might have on their grades.
Key Factors
Involvement
A key factor to consider with vested interest is the level or type of involvement the individual has with a particular attitude object. This can be broken up into three main involvement components: Value-relevant, Impression-relevant, and Outcome-relevant. Value-relevant involvement concerns behaviors which support/reinforce values of the individual. Impression-relevant involvement relates to those behaviors which serve to create or maintain a specific image of the individual. This could, in some ways, be compared to a low-self monitor. Outcome-relevant involvement concerns those behaviors which hold direct personal consequences at a premium for the individual and as a result, corresponds most closely to vested interest.
The concept of involvement closely relates to collaboration which encompasses value, impression and desired outcome. Vested interest is essential in achieving success in collaboration where two or more individuals have the potential to gain or lose. Organizations who strive for collaborative success benefit from understanding vested interest and that of other collaborators in order to maintain a supportive level of involvement.
Ego involvement
The way people view vested interest as distinct from ego involvement, is a construct that has been the topic of social psychological research for many years. In a study conducted by John Sivacek and William D. Crano, they prove that the aforementioned statement of ego involvement and vested interest are indeed separate. Sivacek and Crano state, "It was possible to have circumstances that an individual would perceive as involving but that it would not arouse his or her vested interest." Ego-involvement's main focus points are on individual's psychological attitudes that are experienced as being a part of “me”. The more emotionally connected people are to an idea, concept, or value, minor differences in beliefs can be viewed as significantly large and perhaps make harsh judgments or have stronger reactions. Conversely, a person with less emotional connectivity (low ego-involvement) will have more latitude in their reactions. It is important to note that while highly vested attitudes can be experienced as ego involving, the opposite is not always true. An individual can be ego involved in a certain attitude that has no hedonic consequence. For example, religious or political ideals with little or no hedonic value may still be ego-involved because individuals view those types of beliefs as part of who they are.