Risk Preferences as Related to Judged Consequences of Failure

Bibliographic Data

ID13660834
AuthorsRussell D Clark (University of Kansas, corresponding author), Edwin P Willems (0000-0001-7555-3484, University of Kansas)
Year1969
Volume25
Issue3
Pages827-830
Publication date1969-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenuePsychological Reports (JOURNAL)
Journal identifiersISSN: 0033-2941 • E-ISSN: 1558-691X
PublisherSAGE Publishing (PUBLISHER • US)
DOI10.2466/pr0.1969.25.3.827
OpenAlexW2072331391
LanguageEN
Citations received9
References cited3

In order to explore why the most widely used measure of risk proneness (Choice-dilemmas Questionnaire) yields so much internal variation, its items were filled out in the usual manner and then in terms of how serious the consequences of failure would be in each case. Correlations between the usual risk recommendations, consequences of failure, and national norms for magnitude of risky shift suggested a positive relationship between risk preference and degree of shift toward risk, a negative relationship between seriousness of consequences of failure and risk preference, and a negative relationship between seriousness of consequences and degree of shift toward risk. The findings suggest empirical and theoretical specificity for the speculation that different items engage different values

Economics · Preference · Seriousness · Speculation · Variation (astronomy · Decision-Making and Behavioral Economics · Psychology · Social Psychology

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