Exploring the Concept and Measurement of General Risk Aversion

Carter A. Mandrik, Koc University
Yeqing Bao, University of Alabama in Huntsville
ABSTRACT - In this paper we explore the concept and measurement of a generalBas opposed to domain-specificBrisk aversion construct. We review the literature on risk aversion and perceived risk, focusing on issues of concept meaning and measurement, and discuss problems with current measures of risk aversion for research application. An exploratory empirical investigation is reported in which we (1), develop a scale to measure general risk aversion and (2), explore its relationships with intentions to engage in various behaviors vis a vis other similar measures used in the past. The paper concludes with a discussion of the implications of our findings and suggestions for future research.
[ to cite ]:
Carter A. Mandrik and Yeqing Bao (2005) ,"Exploring the Concept and Measurement of General Risk Aversion", in NA - Advances in Consumer Research Volume 32, eds. Geeta Menon and Akshay R. Rao, Duluth, MN : Association for Consumer Research, Pages: 531-539.