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

ABSTRACT: 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-gener

SUBMITTER: Reeck C 

PROVIDER: S-EPMC9757577 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature