Risk Attitude Scales: Concepts, Questionnaires, Utilizations Information about crafted instruments

Preview People's mind-sets towards risk-taking, i.e., risk attitudes, such as risk propensity and risk aversion, have been far less investigated than risk behavior and especially risk perceptions. These can be conceptualized as two poles of a one-dimensional attitude towards risk-taking but also as two separate concepts. It is widely assumed that people differ considerably in their attitude towards risks, ranging from cautiousness to risk-seeking and even pleasure in risk-taking. However, there is no convincing evidence that this presumed dimension is a general trait (rather than a state, or a domain-specific attitude, e.g., distinct for physical, financial, or social risks people may encounter). Furthermore, basically no established measurement tools exist. In the project report "Risk attitude scales: Concepts, questionnaires, uttilizations" The results so far indicate that risk attitudes are multi-dimensional, that individual risk orientations are not necessarily consistent across domains, and that the motivations for accepting risks vary considerably, depending on the type of hazard. Finally, potential applications and implications for further research are discussed. The purpose of the present research report is to provide descriptions of the four instruments crafted in Project RAC. These are: o Risk Orientations Questionnaire (ROQ) o Risk Propensity Questionnaire (RPQ) o Risk Scenarios Questionnaire (RSQ) o Risk Motivations Questionnaire (RMQ) All instruments are based on the respondents' view of their principal standpoint in risk situations (rather than hypothetical gambles), they are fully standardized questionnaires, and they are handled as self-administered 'paper-and-pencil' devices. To supply pertinent information, below the text of Report RAX is reprinted, and the essential sections are marked; they belong to chapter 3 and partly chapter 4