Personality and Risk Taking

Bernd Figner, Elke U. Weber

Research output: Chapter in Book/Report/Conference proceedingChapter

3 Scopus citations

Abstract

There is a long-standing and persistent belief that risk-taking is a stable personality trait, often referred to as risk attitude or risk preference. This belief implies that a given individual will take similar risks across a range of situations. The article reviews different definitions of risk attitude that show cross-situational consistency to varying degrees. Additionally, several important person-related and situation-related factors affecting risk-taking and its underlying mechanisms are reviewed, including risk perception, risk-value tradeoffs, affective and deliberative processes, and emotion regulation.

Original languageEnglish (US)
Title of host publicationInternational Encyclopedia of the Social & Behavioral Sciences: Second Edition
PublisherElsevier Inc.
Pages809-813
Number of pages5
ISBN (Electronic)9780080970875
ISBN (Print)9780080970868
DOIs
StatePublished - Mar 26 2015
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Social Sciences(all)

Keywords

  • Affect
  • Cognitive control
  • Columbia Card Task (CCT)
  • Deliberation
  • Domain-specific risk-taking (DOSPERT) scale
  • Emotion regulation
  • Expected utility
  • Personality
  • Risk attitude
  • Risk perception
  • Risk preference
  • Risk-value tradeoff

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