Preference or ability: Exploring the relations between risk preference, personality, and cognitive abilities. (15th January 2020)
- Record Type:
- Journal Article
- Title:
- Preference or ability: Exploring the relations between risk preference, personality, and cognitive abilities. (15th January 2020)
- Main Title:
- Preference or ability: Exploring the relations between risk preference, personality, and cognitive abilities
- Authors:
- Millroth, Philip
Juslin, Peter
Winman, Anders
Nilsson, Håkan
Lindskog, Marcus - Abstract:
- Abstract: Key issues in the behavioral sciences are if there exist stable risk preferences that generalize across domains and if these are best measured by revealed risk preference (RRP) in behavioral decision tasks or by surveys eliciting stated risk preference (SRP). We applied network analysis to data from a representative Swedish sample to investigate the relations between RRP, SRP, personality characteristics, and cognitive abilities, using in total over 70 measurements. The results showed that different measures of RRP were poorly intercorrelated and formed a community together with measures of numerical and cognitive abilities. Measures of SRP were weakly correlated with measures of RRP and identified in a distinctly separate community, along with personality characteristics and gender. The ensuing analyses provided support for a model suggesting that RRPs are contaminated by demands on numerical and cognitive abilities. RRPs may thus suffer from poor construct validity, whereas SRPs may better capture people's everyday risk preferences because they are related to more stable traits.
- Is Part Of:
- Journal of behavioral decision making. Volume 33:Number 4(2020)
- Journal:
- Journal of behavioral decision making
- Issue:
- Volume 33:Number 4(2020)
- Issue Display:
- Volume 33, Issue 4 (2020)
- Year:
- 2020
- Volume:
- 33
- Issue:
- 4
- Issue Sort Value:
- 2020-0033-0004-0000
- Page Start:
- 477
- Page End:
- 491
- Publication Date:
- 2020-01-15
- Subjects:
- cognitive abilities -- explorative -- personality -- risk preferences
Decision making -- Periodicals
Managerial economics -- Periodicals
Behavior -- Periodicals
Decision Making -- Periodicals
Prise de décision -- Périodiques
Économie d'entreprise -- Périodiques
153.83 - Journal URLs:
- http://onlinelibrary.wiley.com/ ↗
- DOI:
- 10.1002/bdm.2171 ↗
- Languages:
- English
- ISSNs:
- 0894-3257
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 4951.256600
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 14261.xml