Risk Taking Behaviours

Question 1

What is Risk Propensity

Answer 1

an individual’s tendency to show either risk seeking or risk avoidance attitude

Question 2

What factors influence risk taking behaviours

Answer 2

Thrill Seeking, Substance Abuse, Social Influences

Question 3

What happens when there is a risk shift

Answer 3

There is a shift from risk aversion to risk preference when a need has to be fufilled

Question 4

Define Risk Behaviour

Answer 4

An outcome that may occur with a certain probability

Question 5

What did Fuller (1988) suggest

Answer 5

There is an unconscious process that occurs

Question 6

What Three terms did Fuller (1988) derive

Answer 6

Hazard, Danger and Threat

Question 7

What is the Prospect Theory of Framing

Answer 7

Being presented with 2 or more options, which are worded differently with the same outcome

Question 8

Why is Framing important in Risk Taking Behaviours

Answer 8

It makes people feel like they are getting a better outcome

Question 9

Figner et al 2019 found what

Answer 9

The older you get the more likely you are to risk avoid

Question 10

Why are Adolescents and Young Adults more likely to Risk Seek

Answer 10

To gain social status, fitness relative outcome, approach mates and control resources

Question 11

What is the Biological Framework

Answer 11

Every risky decision that meets ones needs, guarantees survival and enhances reproductive success and fitness

Question 12

What is the Isolation Effect

Answer 12

Indivdiuals tend to simplify choices between alternatives by focusing on components that make them different.

Question 13

What is Loss Aversion.

Answer 13

Individuals minimising their losses because it can be more painful than the gain

Question 14

Can you think of an example of Loss Aversion

Answer 14

Loosing £10 causes more distress than finding £10

Question 15

What does the Evolutionary Perspective prove

Answer 15

Risk taking behaviour is Dominance Specific.

Question 16

What does Risk Sensitivity Propose

Answer 16

Individuals tend to prioritise their needs by allocating time and energy accordingly

Question 17

Example of Risk Sensitivity

Answer 17

An animal is well fed, or has high status is less likely to chance for a larger reward when a smaller, certain amount is available

Question 18

What does the Biological Framework specify

Answer 18

underlying fitness/ motivation drives all behaviours

Question 19

What is a critique about the Biological Perspective

Answer 19

It is an animal-based model, ignoring subjective perceptions and does not offer mechanisms involving emotions

Question 20

What are the different types of Risk Propensity measures

Answer 20

Single items, multiple items, scenarios and behavioural games

Question 21

What did Dohmen et al (2011) develop

Answer 21

The Single-term Measure (Dohmen Measure)

Question 22

What is the Dohmen Measure?

Answer 22

An individuals willingness to engage in risk actions

Question 23

What was the results of the Dohmen Measure

Answer 23

age was negatively associated and men were more willing to take risks

Question 24

Limitation to Risk Propensity Single Item Measures (Dohmen Measure)

Answer 24

1. health and social domains not explored
2. questions were abstract and did not provide concrete examples of financial, occupational or leisure risks
3. vagueness and lack of clarity may introduce significant random measurement errors

Question 25

Who developed Multiple Items Measure

Answer 25

Blais and Weber (2006)

Question 26

What is the Multiple Item Measure also KNown as

Answer 26

Domain-Specific Risk Taking Scale (DOSPERT)

Question 27

What does DOSPERT capture?

Answer 27

Self-reported convectional risk propensity across 5 domains

Question 28

What are the Five domains of DOSPERT

Answer 28

Ethical, Financial, Health’/Safety, Recreational and Social

Question 29

What did Mayhorn, Fisk and Whittle (2002) find

Answer 29

Individuals tend to choose the safe option when their choices are phrased in terms of gains, but choose the more risky option when outcomes are framed in terms of losses

Question 30

What did the Prospect Theory indicate

Answer 30

People are generally risk averse when outcomes are framed as gains and risk-seekers when are framed as losses

Question 31

What does Risk Propensity speculate

Answer 31

men (especially young men) are inclined to forego any safe options in the again to maximize financial outcomes

Question 32

What perspective is Risk Propensity consistent with

Answer 32

Evolutionary- young men are compelled to follow high risk- high reward strategy

Question 33

Why is financial domain important?

Answer 33

Major goal is obtaining resources, therefore financial risk taking may serve to accumulate both wealth and status

Question 34

What Behavioural Measure is a good predictory of health-related risk

Answer 34

Balloon Analogue Risk Task (BART)

Question 35

What does BART do

Answer 35

Adjusts average number of pumps on unexploded balloons, higher scores = greater risk-taking propensity