Sensation seeking and financial risk taking in everyday money matters

1991 ◽  
Vol 5 (4) ◽  
pp. 525-530 ◽  
Author(s):  
Alan Wong ◽  
Bernardo J. Carducci
Keyword(s):  
Risk Taking ◽  
Sensation Seeking ◽  
Financial Risk

scholarly journals Impact of Induced Moods, Sensation Seeking, and Emotional Contagion on Economic Decisions Under Risk

2022 ◽  
Vol 12 ◽  
Author(s):  
Kirill Efimov ◽  
Ioannis Ntoumanis ◽  
Olga Kuskova ◽  
Dzerassa Kadieva ◽  
Ksenia Panidi ◽  
...  
Keyword(s):  
Risk Aversion ◽  
Personality Traits ◽  
Risk Taking ◽  
Sensation Seeking ◽  
Financial Risk ◽  
Emotional Contagion ◽  
Simple Task ◽  
Decisions Under Risk ◽  
Increased Risk ◽  
Sad Mood

In addition to probabilities of monetary gains and losses, personality traits, socio-economic factors, and specific contexts such as emotions and framing influence financial risk taking. Here, we investigated the effects of joyful, neutral, and sad mood states on participants’ risk-taking behaviour in a simple task with safe and risky options. We also analysed the effect of framing on risk taking. In different trials, a safe option was framed in terms of either financial gains or losses. Moreover, we investigated the effects of emotional contagion and sensation-seeking personality traits on risk taking in this task. We did not observe a significant effect of induced moods on risk taking. Sad mood resulted in a slight non-significant trend of risk aversion compared to a neutral mood. Our results partially replicate previous findings regarding the presence of the framing effect. As a novel finding, we observed that participants with a low emotional contagion score demonstrated increased risk aversion during a sad mood and a similar trend at the edge of significance was present in high sensation seekers. Overall, our results highlight the importance of taking into account personality traits of experimental participants in financial risk-taking studies.

Mediational effects of sensation seeking on the age and financial risk-taking relationship

2009 ◽  
Vol 47 (8) ◽  
pp. 917-921 ◽  
Author(s):  
Kevin L. Zabel ◽  
Andrew N. Christopher ◽  
Pam Marek ◽  
Mareike B. Wieth ◽  
Jacqueline J. Carlson
Keyword(s):  
Risk Taking ◽  
Sensation Seeking ◽  
Financial Risk

Effects of Social Exclusion on Financial Risk Taking

2013 ◽  
Author(s):  
Rod Duclos ◽  
Echo Wen Wan ◽  
Yuwei Jiang
Keyword(s):  
Social Exclusion ◽  
Risk Taking ◽  
Financial Risk

Positive risk-taking: Mixed-methods validation of a self-report scale and evidence for genetic links to personality and negative risk-taking

2019 ◽  
Author(s):  
Megan Wales Patterson ◽  
Lilla Pivnick ◽  
Frank D Mann ◽  
Andrew D Grotzinger ◽  
Kathryn C Monahan ◽  
...  
Keyword(s):  
Youth Development ◽  
Risk Taking ◽  
Sensation Seeking ◽  
Empirical Work ◽  
Well Being ◽  
Population Based ◽  
Self Report ◽  
Personality Factors ◽  
Positive Behaviors ◽  
Adolescent Risk

Adolescents are more likely to take risks. Typically, research on adolescent risk-taking has focused on its negative health and societal consequences. However, some risk-taking behaviors might be positive, defined here as behavior that does not violate the rights of others and that might advance socially-valuable goals. Empirical work on positive risk-taking has been limited by measurement challenges. In this study, we elicited adolescents’ free responses (n = 75) about a time they took a risk. Based on thematic coding, we identified positive behaviors described as risks and selected items to form a self-report scale. The resulting positive risk-taking scale was quantitatively validated in a population-based sample of adolescent twins (n = 1249). Second, we evaluated associations between positive risk-taking, negative risk-taking, and potential personality and peer correlates using a genetically informed design. Sensation seeking predicted negative and positive risk-taking equally strongly, whereas extraversion differentiated forms of risk-taking. Additive genetic influences on personality accounted for the total heritability in positive risk-taking. Indirect pathways from personality through positive and negative peer environments were identified. These results provide promising evidence that personality factors of sensation seeking and extraversion can manifest as engagement in positive risks. Increased understanding of positive manifestations of adolescent risk-taking may yield targets for positive youth development strategies to bolster youth well-being.

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