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A Domain-Specific Risk-Taking (DOSPERT)Scale for Adult Populations

Author

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  • Ann-Renée Blais
  • Elke U. Weber

Abstract

This paper provides 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 reported 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 (i.e., individual-level) 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 as a stable trait. Le présent document propose une version révisée de l'échelle originale Domain-Specific Risk-Taking (DOSPERT) mise de l'avant par Weber, Blais, et Betz (2002). Il s'agit d'une version abrégée qui se veut plus générale, s'adressant à un plus large éventail d'âges, de cultures et de degrés de scolarisation. Ce document offre également une traduction française de l'échelle révisée. Nous avons étudié, à l'aide de la modélisation multiniveaux, la relation risque-rendement entre la prise de risque apparente et la perception du risque dans cinq domaines de risque. Les résultats reproduisent les différences déjà notées au sujet du degré de prise de risque et de la perception du risque au niveau moyen de l'analyse. La modélisation multiniveaux démontre, de façon plus intéressante, que la variation dans la prise de risque pour tous les éléments des domaines de l'échelle était sept fois plus grande chez un même participant (i.e., au niveau individuel) que la variation entre les différents participants. Nous étudions les implications des résultats de l'étude en termes du débat lié à la personne-situation voulant que l'attitude à l'égard du risque soit considérée comme un trait stable.

Suggested Citation

  • Ann-Renée Blais & Elke U. Weber, 2006. "A Domain-Specific Risk-Taking (DOSPERT)Scale for Adult Populations," CIRANO Working Papers 2006s-24, CIRANO.
  • Handle: RePEc:cir:cirwor:2006s-24
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    File URL: http://www.cirano.qc.ca/files/publications/2006s-24.pdf
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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. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    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. 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.
    5. 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.
    6. 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.
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