Cross-national differences in risk preference and individual deprivation: A large-scale empirical study. (1st May 2018)

• Record Type: Journal Article
• Authors: Canale, Natale; Vieno, Alessio; Lenzi, Michela; Griffiths, Mark D.; Perkins, Douglas D.; Santinello, Massimo
• Is Part Of: Personality and individual differences. Volume 126(2018)
• Page Start: 52
• Page End: 60
• Publication Date: 2018-05-01
• Subjects: Risk-taking -- Individual deprivation -- Macroeconomics factors -- Cross-cultural differences -- Risk sensitivity theory; Personality -- Periodicals; Individuality -- Periodicals; Individuality -- Periodicals; Personality Development -- Periodicals; Personnalité -- Périodiques; Individualité -- Périodiques; 155.205
• DOI: 10.1016/j.paid.2018.01.006
• Languages: English
• ISSNs: 0191-8869

Abstract

Abstract: Although risk-taking has been found to be associated with economic deprivation, there is little evidence on whether the relationship between individual deprivation and propensity for risk-taking is inherent to all individuals, or varies across cultural contexts. Consequently, the present study investigated the interaction effects of macroeconomic factors [Gross Domestic Product (GDP) per capita and Human Development Index (HDI)] in the relationship between individual deprivation and propensity for risk-taking using the World Values Survey data from 58 countries ( N = 87, 223). On average, individuals in more developed countries (higher HDI) had less propensity for risk-taking. However, in contradiction to this, the positive association between individual deprivation and risk-taking was stronger in countries with higher GDP per capita. The present study suggests that the association between individual deprivation and propensity for risk-taking varies with environmental variables assessing the socio-economic development of a country. Highlights: Propensity for risk-taking (PRT) is associated with individual deprivation (ID). People in more developed countries had less PRT. In contradiction to this, the ID-PRT association is stronger in richer countries.