Risk-Taking Scale Research Articles

Development and initial validation of the online risk-taking scale

This study aims to develop and validate the Online Risk-Taking Scale. Based on the results of expert opinions and a trial application, a 20-item draft form was created. This scale includes 20 questions about behaviors that are considered risky and have been performed in the last six months. The scale was administered to 214 secondary school students as an online questionnaire, and data were collected. Validity and reliability studies were conducted using these final data. Exploratory factor analysis and confirmatory factor analysis were performed to determine the validity levels of the scale. Cronbach's α coefficient and McDonald's Omega (ω) coefficient were analyzed to assess the reliability levels. The scale demonstrated satisfactory validity and reliability. As a result, a valid and reliable measurement tool that will contribute to the literature by determining the online risk-taking levels of secondary school students has been obtained.

Risk-Taking Behavior Differs Between Older Adults with and without Mild Cognitive Impairment.

Adequately evaluating risk and making decisions is vital but understudied for older adults living independently but with compromised cognition, as seen in those with mild cognitive impairment (MCI), specifically those with amnestic MCI (aMCI) which is associated with higher risk of conversion to Alzheimer's disease. We propose to comprehensively evaluate risk-taking behaviors across domains important for everyday activities between an aMCI group and their cognitively healthy counterparts (HC). A case-control study design. Data on risk-taking behaviors via the Domain-Specific Risk-Taking Scale (DOSPERT), and candidate confounding mental health factors (i.e., neurodegeneration, depression, and fatigue) were collected. Analyses on group difference and interaction between group and confounding factors on risk-taking behaviors were conducted. The aMCI group showed a higher likelihood of risk-taking than HC (t = 4.38, df = 73, p < 0.001). Moderation analysis showed fatigue (F = 5.91, p = 0.018) and presence of depression (F = 4.52, p = 0.037), but not neurodegeneration, as significant moderators for group and DOSPERT total score, controlling for sex. In post-hoc analyses, there was a significant relationship between both fatigue (B = -7.83, SE = 3.65, t = -2.14, p = 0.036), and presence of depression (B = -20.80, SE = 9.97, t = -2.09, p = 0.041), with DOSPERT total score for HC but not for aMCI. There were no significant relationships between neurodegeneration, fatigue, or depression with any specific risk-taking domains after correction for multiple comparisons. Our results show differences in risk-taking behavior between older adults with and without intact cognition, and overall decision-making is affected by fatigue and depression in HC but not aMCI, together suggesting the importance of cognition in the ability to adjust risk-taking behaviors.

The Relationship Between Dark Tetrad of Personality and Domain-Specific Risk-taking Among Iranian Young People

Introduction: Dark personality traits include a range of socially aversive personality traits that are associated with risky behaviors and other mental health risk factors. However, it is not clear which specific risky behaviors are associated with each Personality trait (Machiavellianism, Narcissism, Psychopathy and Sadism) outlined in this conceptual framework. Aim: Examining the Relationship Between Dark Tetrad of Personality and Domain-Specific Risk-taking Behavior Among Iranian Young People was the aim of this study. Method: The Research Design for this study is based on Descriptive Correlational Research method, A sample of 848 Young people was selected with the convenience sampling method from the Tehran using an online research platform. Domain-Specific Risk-Taking (DOSPERT) Scale and the Short Dark Tetrad (SD4) were used for data collection. The data were Analyzed by the Pearson correlation coefficient (PCC) and Stepwise regression using SPSS version 26. Results: The correlation matrix of the research variables demonstrated that all components of the Dark Tetrad of Personality (Machiavellianism, Narcissism, Psychopathy, and Sadism) are positively correlated with various domains of risk-taking (Social, Recreational, Gambling, Health/Safety, and Ethical). Among the four personality traits, Psychopathy and Sadism show the highest correlation, while Narcissism and Machiavellianism demonstrate a weaker correlation with risk-taking behaviors. Additionally, only Machiavellianism and Narcissism were linked to risky investments. Conclusion: In conclusion, for more accurate clinical decision-making concerning the relationship between Dark Personality traits and risky behaviors, it is essential to consider the specific and unique relationship between the traits and domains

Examining the Association Between Psychopathy Clusters and Risk-Taking Behaviors

IntroductionPsychopathy encompasses the sub-dimensions of interpersonal manipulation, callous affect, erratic lifestyle, and criminal tendencies. Most studies investigating this trait have traditionally utilized a variable-centered approach. However, in the current study, we have adopted a person-centered approach.ObjectivesOur objective was to analyze distinct homogeneous subgroups of individuals characterized by specific psychopathy profiles and examine their relationship with risk-taking behavior.MethodsOur sample consisted of 371 participants (26.4% men, aged 18 to 59 years), who completed the 34-item Self-Report Psychopathy Scale-III to assess psychopathy and Risk-taking behaviors were assessed using the Domain-Specific Risk-Taking Scale (DOSPERT-30).ResultsThrough cluster analysis, we identified four distinct groups: Low psychopathy, Low criminal tendencies, High erratic lifestyle, and High psychopathy group. The primary findings revealed that the High psychopathy group, characterized by elevated scores in all sub-dimensions, exhibited higher levels of Risk-Taking Behaviors and a lower Perception of Risk compared to the other groups. Furthermore, the Low criminal tendencies group, marked by high scores in all dimensions and low scores in criminal tendencies, demonstrated greater risk-taking behavior compared to the Low psychopathy and High erratic lifestyle groups.ConclusionsThese results stimulate the debate about whether it is appropriate to incorporate the dimension of criminal tendencies within the concept of psychopathy. Certain clinical implications emerge from this study that are deserving of a comprehensive and thoughtful discussion.Disclosure of InterestNone Declared

The Mediating Role of Emotion Regulation in the Relationship Between Parent-Child Relationship Quality and Risky Behaviors in Adolescents

Objective: Adolescence is a critical period in life. During adolescence, individuals experience new situations and, as a result, face various risks. The present study aims to determine the mediating role of emotion regulation in the relationship between the quality of the parent-child relationship and risky behaviors in adolescents. Methods and Materials: This study is descriptive-correlational in terms of data collection and structural equation modeling in nature. The study population includes all adolescents in Tehran city. Based on Morgan's table, 222 individuals were selected as the sample size through a convenient sampling method and participated in the current study. Data were collected using the Parent-Child Relationship Assessment questionnaire, the Cognitive Emotion Regulation questionnaire, and the Adolescent Risk-Taking Scale. Data analysis was conducted using Pearson correlation analysis and path analysis in the AMOS and SPSS version 22 software. Findings: The results of the research showed that maladaptive emotion regulation is significantly positively correlated with risky behaviors in adolescents (P &lt; 0.01). The quality of the parent-child relationship had a significant negative correlation with components of risky behaviors in adolescents (P &lt; 0.01). Conclusion: Other findings of this research indicated that emotion regulation strategies play a mediating role in the relationship between the quality of the parent-child relationship and risky behaviors. Therefore, in adolescents, the quality of the parent-child relationship determines risky behaviors through emotion regulation strategies.

Hypnotizability-related risky experience and behavior

Risk is the probability of an adverse event. The proneness to take a risk and the risk taking behavior differ among the general population.Hypnotizability is a stable psychophysiological trait expressing the individual proneness to modify perception, memory and behavior following specific suggestions also in the ordinary state of consciousness. Some hypnotizability-related neurophysiological and behavioral correlates suggest that hypnotizability level, measured by standard scales classifying individuals as low (lows), medium (mediums) and high hypnotizable (highs) subjects, can be related to risk propensity and risk-taking. To study whether hypnotizability modulates risk propensity and behavior, we recruited healthy participants, classified through the Standford Hypnotic Susceptibility scale, form A, and compared lows’ (n = 33), mediums’ (n = 19) and highs’(n = 15) experiential and behavioral risk perception and propensity variables through the Domain-specific risk-taking scale and the Balloon Analogue Risk Task. MANOVA results indicated that different hypnotizability levels are not associated with different risky behavior and experience, except for higher expected financial benefits from risky behavior in lows. However, hypnotizability-related risk profiles were identified through correlational analyses. In fact, highs exhibited a negative association between risk perception and propensity to risk-taking, whereas mediums and lows displayed a positive association between risk propensity and expected benefit. In conclusion, the highs’ profile indicates a more automatic behavior with respect to mediums and lows.

Effect of the extensive parallel process model on high-risk sexual behaviors of adolescent girls: A randomized control trial

The present study aims to determine the effect of the extensive parallel process model on high-risk sexual behaviors of adolescent girls. This randomized control trial study employed a pre- and post-test design, incorporating both intervention and control groups, and involved 50 female students in the 2019. The primary instruments employed for data collection in this study comprised a demographic questionnaire encompassing age, educational level, parental education, and birth order of the child within the family. Additionally, the Iranian Adolescents Risk-Taking Scale served as a standardized tool for assessing risk-taking behaviors among Iranian adolescents. Before the intervention, the independent t-test conducted between the test and control groups revealed no statistically significant difference in high-risk sexual behaviors (P=0.23). However, after the intervention, a significant difference was observed between the two groups as indicated by the independent t-test (P&lt;0.01). The ANCOVA test, employed to discern differences while controlling for pre-test effects, demonstrated statistical significance (Eta=0.27, P&lt;0.01), underscoring the enduring impact of the intervention on high-risk sexual behaviors. In conclusion, the efficacy of the extensive parallel process model in mitigating sexual risk-taking behaviors among adolescents underscores its capacity to foster a heightened understanding of the gravity inherent in sexual issues.

Study of high-risk behaviors and their relationship with psychological factors in Iranian high school students.

Scientific evidence suggests that certain psychological factors may contribute to the occurrence of high-risk behaviors among adolescents. This study aimed to determine the high-risk behaviors and their relationship with psychological factors in Iranian high school students. This cross-sectional study involved 1100 high school students (564 boys and 536 girls). The subjects were selected from a total population of 9488 students using a multistage sampling method. Data was collected through a general information questionnaire (GIQ) and the Iranian Adolescents Risk-Taking Scale (IARS). The GIQ consisted of two parts: demographic information and psychological factors. These factors, including false self-confidence, excitement-seeking, risk-taking, experimentation, curiosity, heroism, disappointment with the future, handsomeness, tiredness of monotony, and enjoyment, were extracted with a deductive-centered approach by reviewing the literature. Descriptive statistics (absolute and relative frequency, mean, and standard deviation) and inferential statistics (independent t-test and multiple linear regression) were used for data analysis. The results showed that the total mean score of high-risk behaviors was 62.12, lower than the middle scale. The highest mean score of high-risk behaviors was associated with a tendency to dangerous driving, while the lowest mean score was related to the tendency to drug abuse. All psychological variables demonstrated a statistically significant relationship with high-risk behaviors (P < 0.001). In the multiple linear regression model, all psychological variables except risk-seeking and handsomeness remained significant predictors of high-risk behaviors. These variables included false self-confidence, excitement-seeking, experimentation, curiosity, heroism, disappointment with the future, tired of monotony, and hedonism. They explained 29% of changes in high-risk behaviors. Among these variables, excitement-seeking was the most effective in predicting high-risk behaviors. Most of the psychological variables in the present study explained high-risk behaviors. Paying attention to these variables can provide a more comprehensive view for parents and experts whose goal is to provide educational and counseling programs to reduce high-risk behaviors among adolescents.

Psychological profiles associated with positive and negative risk-taking in adults

Although risk is often considered in the context of maladaptive behaviors, risks can also be positive, allowing individuals to pursue meaningful goals in a socially accepted way. In this study, we were interested in examining psychological profiles associated with positive and negative risk-taking in adults (N = 275, ages 19–71 years, M = 39.25; SD = 13.73) using latent profile analysis. Specifically, we examined whether distinct profiles of psychological characteristics such as future time perspective, tolerance to ambiguity, and sensitivity to reward and punishment are differentially associated with positive and negative risk-taking. We used the Future Time Perspective Scale (FTPS), the Multiple Stimulus Types Ambiguity Tolerance Scale (MSTAT-II), the Short Version of the Sensitivity to Punishment and Sensitivity to Reward Scale (SPSRQ-SF), the Positive Risk-Taking Scale (PRTS), and the Negative Risk-Taking Scale (NRTS). Findings yielded two profiles: individuals in the first profile, characterized by lower sensitivity to punishment and higher tolerance to ambiguity, future time perspective, and sensitivity to reward, endorsed greater positive and negative risk-taking. Conversely, individuals in the second profile, characterized by heightened sensitivity to punishment and lower tolerance to ambiguity, future time perspective, and sensitivity to reward, endorsed lower positive and negative risk-taking. The study contributes to previous findings by identifying additional psychological characteristics that may be associated with both positive and negative risk-taking in adults.

Financial risk-taking in adult attention deficit hyperactivity disorder

PurposeThis study aimed to examine the financial risk-taking behaviors of adult individuals diagnosed with attention deficit hyperactivity disorder (ADHD).Design/methodology/approachThe study was conducted with adults (n = 80) diagnosed with ADHD and healthy controls (n = 80). In order to measure risk-taking in the financial domain, the items in the investment and gambling sub-dimensions of the Domain-Specific Risk-Taking Scale (DOSPERT) were applied.FindingsAdults with ADHD had higher investment and gambling risk-taking and expected benefits scores than the control group, and there was no difference between the two groups in terms of risk perceptions. In the regression analysis, there was a positive linear relationship between the investment and gambling risk-taking scores and the expected benefits scores in both groups. There was a negative linear relationship between investment risk-taking and risk perceptions scores only in the control group.Originality/valueIn terms of investment and gambling, both risk-taking and expected benefits are greater in individuals with ADHD. It has been observed that while healthy individuals take investment risks, they evaluate according to the expected benefits and risk perceptions, while individuals with ADHD make evaluations only according to the expected benefits, risk perceptions do not predict financial risk-taking in individuals with ADHD. When it comes to risk-taking related to gambling, both groups take risks only according to their expectations of benefits, not their perceptions of risk. The study provides outputs that can contribute to the literature in terms of the effects of ADHD diagnosis on financial decision-making processes in the context of risk-taking.

The Effect of Acceptance and Commitment Therapy on High-risk Behaviors of Delinquent Adolescents in a Juvenile Detention Center

Introduction: A juvenile detention center is a place where teenagers with risky behaviors, such as competitiveness, separation from family, impatience, aggression, physical abuse, suicide, addiction, and theft, are kept to be corrected and trained. Acceptance and commitment therapy (ACT) can greatly reduce high-risk behaviors in these individuals. Objective: This study aimed to investigate the effect of ACT on the risk-taking behaviors of delinquents in a juvenile detention center. Materials and Methods: This quasi-experimental study was performed on 60 male juvenile delinquents aged 12-18 years in a juvenile detention center in Southeast Iran. The participants were recruited by the census method and assigned to the intervention and control groups (30 in each group) using simple random sampling. The participants in the intervention group attended eight 90-min sessions of ACT, and the participants in the control group received routine training in the center. Iranian adolescents’ risk-taking scale was used to assess the risk-taking of samples before and one month after the ACT intervention. The study data were analyzed using descriptive (frequency, percentage, mean, and standard deviation) and inferential statistics (independent samples t-test, paired-samples t-test, chi-square test, and the analysis of covariance). Results: Most adolescents in the intervention and control groups were in the age group of 16-20 years (96.7%, and 93.3%, respectively) and had a middle school degree (56.7%, and 40%, respectively). A comparison of the mean risk-taking behaviors scores in the intervention (56.53±11.4) and the control groups (57.28±11.18) showed that the participants in both groups were engaged in high-risk behaviors and were similar. However, in the post-test stage, the mean risk-taking behaviors score in the intervention group decreased (39.64±10.26) compared with the control group (56.31±11.5) with a significant intergroup difference (P&lt;0.05). Also, the Mean±SD risk-taking scores after the intervention were higher than the control group calculated by the covariance analysis for the intervention group participants. These differences were statistically significant (Cohen’s d=15.24, 95% CI, 10.91%-19.56%). Conclusion: According to the results, ACT reduced high-risk behaviors in juvenile delinquents. Thus, such psychological interventions can be performed to reduce high-risk behaviors in vulnerable groups such as adolescents in juvenile detention centers. Also, the effectiveness of these interventions can be evaluated in longitudinal studies.

Correlates of recreational risk-taking behavior: A comparison between the Tower Building Task and two self-report measures

Risk-taking is a ubiquitous behavior and its assessment is a central aspect of understanding human decision-making. Self-report questionnaires can be used to probe risk-taking propensities in a domain-specific manner. In contrast, most behavioral tools for risk-taking assessment provide nonspecific, unitary measures with a strong bias towards risk scenarios involving monetary gains and losses tied to probabilities. In the current work, we evaluate a behavioral task designed to specifically address recreational risk-taking, that is, situations where decision-making is driven by intrinsic motivation and performance is rewarding in its own right. For this, we chose the Tower Building Task (TBT), in which participants use wooden blocks to attempt to build the tallest tower they can; a trial ends if the building collapses, the allotted time ends, or the builder is satisfied with their tower. We correlated the TBT scores with each of the domains provided by two widely used self-report instruments, the Domain-Specific Risk-Taking scale (DOSPERT) and the Evolutionary Domain-Specific Risk scale (ERS). We found small, but significant correlations between TBT scores and those of (i) the recreational domain of the DOSPERT as well as (ii) the environmental exploration domain of the ERS. These correlation values reflect a small degree of similarity between these tests, suggesting that they capture some aspects of the complex construct that is recreation. However, the small magnitude of the correlations highlights the need for a complementary set of tools to evaluate the full spectrum of recreational risk-taking activities.

Experimental Study on the Risk Preference Characteristics of Members in Supply Chain Emergencies

Since risk preference affects the behavior of decision makers, the study of its characteristics and impact on decision-making contributes to good planning for emergency coordination. The consistency of a member’s risk preferences in the conventional risk field and emergencies of a supply chain was analyzed by applying the prospect theory and adapting the domain-specific risk-taking (DOSPERT) scale. The influence of time pressure on the risk preferences and decision-making behaviors of members was studied in the emergency field and its sub-emergencies of a supply chain. The conclusions were drawn based on the empirical study. First, the risk preference could be measured in terms of conventional risk and emergencies. Second, the members tended to be risk averse with no time pressure, and the degree of risk aversion was weakened with time pressure, which had the greatest effect in the natural disaster event. Third, even though the change in risk preference had a consistency regarding the four types of sub-events of supply chain emergencies, it was inconsistent regarding the conventional risks and emergencies. With the evolution trend of risk preference demonstrated and the relationship between preference and time pressure revealed, this study may provide a decision-making reference for the formulation of a supply chain emergency coordination scheme.

Risk Propensity as a Personality Antecedent of Emigration Attitudes Among Bulgarian Millennials and Zoomers

Abstract: This paper examines the predictive power of risk propensity as a personality tendency over emigration attitudes among young Bulgarians regarding their generational belonging and differences. Although the correlation between risk propensity and migration attitudes has been studied in some countries, to date, it has neither been examined in Bulgaria – an Eastern European economy in transition – nor scrutinized in the light of generational differences. As part of a national survey ( N = 1,200) carried out in September-October 2021, young Bulgarians aged 18–35 years – Zoomers ( N = 444) and Millennials ( N = 756), we measured risk propensity both as a general tendency and as individual responses to different risk domains, using a revision of Jackson’s Risk-Taking Scale (1994) . We studied the emigration attitudes using an original 5-item Attitudes Toward Emigration Scale. The findings suggest that risk propensity, mostly in the social risk domain, is a powerful predictor of emigration attitudes among young Bulgarians, even more powerful for Millennials than Zoomers. The higher risk propensity is associated with more positive attitudes toward emigration. The findings have important interdisciplinary implications for psychological theory and demographic policy.

Adaptation of The Positive Risk-Taking Scale in Adolescents to Turkish: A Study of Linguistic Equivalence, Validity, and Reliability ________________________________________

Bu çalışmada, Duell (2018) tarafından geliştirilen Ergenlerde Pozitif Risk Alma Davranışı Ölçeği’nin Türkçe’ye uyarlanması amaçlanmıştır. Ölçeğin psikometrik özellikleri, katılımcılarının İstanbulda ikamet eden lise öğrencileri olduğu üç farklı aşama ile sınanmıştır. Araştırmanın, dilsel eş değerliği 30, geçerlik ve güvenirlik analizleri 359 lise öğrencisi ile gerçekleştirilmiştir. Ölçüm aracının özellikleri dilsel eşdeğerlik, geçerlik (yapı, ölçüt) ve Cronbach alfa güvenirlik katsayısı yöntemleriyle incelenmiştir. Ölçeğin ölçüt geçerlik sınamalarında Ergenlerde Pozitif Risk Alma Ölçeği, Ergenlerde Risk Alma Ölçeği, Olumlu Sosyal ve Saldırgan Davranış Ölçeği ve Ergen Prososyallik Ölçeği’nden yararlanılmıştır. Yapı geçerliği için gerçekleştirilen doğrulayıcı ve açımlayıcı faktör analizi sonuçları, Ergenlerde Pozitif Risk Alma Ölçeğinin tek faktörlü yapısının yeterli uyum değerlerine sahip olduğunu göstermiştir. Ayrıca Ergenlerde Pozitif Risk Alma Ölçeği, ergenlerde risk alma davranışı, olumlu sosyal ve saldırgan davranış ve ergen prososyalliği ile pozitif yönde anlamlı ilişkiler elde edilmiştir. Ölçeğin Cronbach alfa güvenirlik katsayısı .74 olarak hesaplanmıştır. Sonuç olarak araştırma bulguları ölçeğin, ergenlerin pozitif risk alma davranış düzeylerini değerlendirmede kullanılabilecek geçerli ve güvenilir bir ölçüm aracı olduğunu desteklemektedir.

The Relation between Students’ Mental Health and Tendency toward Risky Behavior in Pishva, Iran

Background: Risky behaviors can cause severe damage in communities. These behaviors are more common among the youth. This study aimed to investigate the mental factors associated with high-risk behaviors among university students in Tehran province, Iran. Methods: This cross-sectional study was conducted on students selected using multistage sampling from different faculties in 2014-2015. In total, 477 students completed the Youth Risk-Taking Scale and Mental Health Inventory-28. Data were analyzed using descriptive statistics and linear regression. Results: Psychological well-being had a significant negative correlation with the tendency to risky behavior (P&lt;0.001). There was a strong significant correlation between psychological distress and smoking, drinking, and sexual risk-taking. This study revealed that students with a higher level of psychological well-being were less likely to engage in risky behaviors such as sexual risk-taking, careless driving, violence, smoking, and alcohol and drug abuse (P&lt;0.001). Conclusion: The results of this study showed that mental health promotion can decrease risky behaviors among youths in Iran.

The effects of risk-taking tendency and achievement needs on the entrepreneurial potential of the Syrian refugees in Turkey

The main purpose of this study is to examine the effects of the risk-taking tendency and achievement needs of Syrian refugee entrepreneurs on their entrepreneurship potential. In the measurement tool designed for this purpose, the risk-taking scale, the achievement needs scale, and the entrepreneurship potential scale, which has been created from the study of Oren and Bickes, has been used. The study is carried out in Gaziantep, which is one of the provinces where Syrian refugees live most intensely in Turkey. The data obtained from 395 Syrian refugee entrepreneurs who set up businesses in Gaziantep by the survey method have been evaluated with explanatory and confirmatory factor analysis, descriptive statistics, correlation, and structural equation modeling. As a result of the correlation analysis, positive and significant relationships were determined between their risk-taking tendency, achievement need, and entrepreneurship potential. Besides that, in the structural equation model created to test the research hypotheses, it has been found that the effects of both the risk-taking tendency and the achievement need on entrepreneurship potential were positive and significant.

A comparative study of eight COVID-19 protective measures and their impact on Swiss tourists’ travel intentions

A comparative vignette-based experimental survey design incorporating various socio-psychological factors, linked to the Theory of Planned Behavior (TPB), the Health Belief Model (HBM) and the Domain-Specific Risk-Taking scale (DOSPERT) was carried out to test variations in eight travel-related COVID-19 protective measures on Swiss tourists’ travel intentions. Among the tested measures, vaccination passports, surgical masks and quarantining are those that stand out the most, with surgical masks having the greatest acceptance and willingness to adopt while traveling. Quarantining, on the other hand, appears to have a deterrent influence on travel intentions, and vaccination passports have the lowest perceived barriers during travel, but the highest perceived benefits in mitigating the spread of the infection. The discussion of individual differences has specific implications for tourism management against the background of our empirical findings.

Towards a typology of risk preference: Four risk profiles describe two-thirds of individuals in a large sample of the U.S. population

It has been a longstanding goal of the behavioral sciences to measure and model people’s risk preferences. In this article, we adopt a novel theoretical perspective of doing so and test to what extent specific types of individuals share similar risk profiles (i.e., configurations of multidimensional risk preferences). To this end, we analyzed data of a U.S. sample (N = 3,123) in a comprehensive and rigorous way, resulting in a twofold contribution. First, based on data from the Domain-Specific Risk-Taking scale (DOSPERT) and using a cross-validation procedure, we established a multidimensional trait space including general and domain-specific dimensions of risk preference. Second, we employed model-based cluster analyses in this multidimensional trait space, finding that 66% of participants can be described well with four basic risk profiles. In sum, the typological perspective proposed in this article has important implications for current theories of risk preference and the measurement of individual differences therein.

Beyond money: Risk preferences across both economic and non-economic contexts predict financial decisions.

Important decisions about risk occur in wide-ranging contexts, from investing to healthcare. While an underlying, domain-general risk attitude has been identified across contexts, it remains unclear what role it plays in shaping behavior relative to more domain-specific risk attitudes. Clarifying the relationship between domain-general and domain-specific risk attitudes would inform decision-making theories and the construction of decision aids. The present research assessed the relative contribution of domain-general and domain-specific risk attitudes to financial risk taking. We examined risk attitudes across different decision domains, as revealed through a well-validated measure, the Domain-Specific Risk-Taking Scale (DOSPERT). Confirmatory factor analysis indicated that a domain-general risk attitude shaped responses across multiple domains, and structural equation modeling showed that this domain-general risk attitude predicted observed behavioral risk premiums in a financial decision-making task better than domain-specific financial risk attitudes. Thus, assessments of risk attitudes that include both economic and non-economic domains improve predictions of financial risk taking due to the enhanced insight they provide into underlying, domain-general risk preferences.