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A Domain-Specific Risk-Taking (DOSPERT) scale for adult populations

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  • Ann-Renée Blais
  • Elke U. Weber

Abstract

This paper proposes a revised version of the original Domain-Specific Risk-Taking (DOSPERT) scale developed by Weber, Blais, and Betz (2002) that is shorter and applicable to a {broader range of ages, cultures, and educational levels}. It also provides a French translation of the revised scale. Using multilevel modeling, we investigated the risk-return relationship between apparent risk taking and risk perception in 5 risk domains. The results replicate previously noted differences in reported degree of risk taking and risk perception at the mean level of analysis. The multilevel modeling shows, more interestingly, that within-participants variation in risk taking across the 5 content domains of the scale was about 7 times as large as between-participants variation. We discuss the implications of our findings in terms of the person-situation debate related to risk attitude

Suggested Citation

  • Ann-Renée Blais & Elke U. Weber, 2006. "A Domain-Specific Risk-Taking (DOSPERT) scale for adult populations," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 1, pages 33-47, July.
  • Handle: RePEc:jdm:journl:v:1:y:2006:i::p:33-47
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    References listed on IDEAS

    as
    1. Sarin, Rakesh K. & Weber, Martin, 1993. "Risk-value models," European Journal of Operational Research, Elsevier, vol. 70(2), pages 135-149, October.
    2. Kenneth R. MacCrimmon & Donald A. Wehrung, 1990. "Characteristics of Risk Taking Executives," Management Science, INFORMS, vol. 36(4), pages 422-435, April.
    3. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    4. Harrison, James D. & Young, Jane M. & Butow, Phyllis & Salkeld, Glenn & Solomon, Michael J., 2005. "Is it worth the risk? A systematic review of instruments that measure risk propensity for use in the health setting," Social Science & Medicine, Elsevier, vol. 60(6), pages 1385-1396, March.
    5. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    6. Ann-Renée Blais & Elke U. Weber, 2006. "Testing Invariance in Risk Taking: A Comparison Between Anglophone and Francophone Groups," CIRANO Working Papers 2006s-25, CIRANO.
    7. Elke U. Weber & Richard A. Milliman, 1997. "Perceived Risk Attitudes: Relating Risk Perception to Risky Choice," Management Science, INFORMS, vol. 43(2), pages 123-144, February.
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