Analysis

The Risk Aversion Measure is a tool used to assess individuals’ willingness to take risks. Risk aversion refers to the tendency of a person to prefer safety and certainty over uncertainty and risk, even if this means missing opportunities for greater gains or rewards.

Objective

The aim of the measure is to provide a reliable and valid assessment of risk aversion.

Scoring

The scale includes a series of statements or scenarios regarding risk aversion in financial, professional, and personal contexts. Participants are asked to respond using a Likert scale, ranging from “1 = Strongly Disagree” to “5 = Strongly Agree,” or by choosing from preferences that range from complete risk avoidance to acceptance of high risk.

References

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Weber, E. U., Blais, A.-R., & Betz, N. E. (2002). A domain-specific risk-attitude scale: Measuring risk perceptions and risk behaviors. Journal of Behavioral Decision Making, 15(4), 263–290.
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