Exploring the Concept and Measurement of General Risk Aversion

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.


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.


Carter A. Mandrik, Koc University
Yeqing Bao, University of Alabama in Huntsville


NA - Advances in Consumer Research Volume 32 | 2005

Share Proceeding

Featured papers

See More


When Novices have more Influence than Experts: Empirical Evidence from Online Peer Reviews

Peter Nguyen, Ivey Business School
Xin (Shane) Wang, Western University, Canada
Xi Li, City University of Hong Kong
June Cotte, Ivey Business School

Read More


Q13. Liquid Consumption From Another Perspective: The Case of “Investomers”

Carina Hoffmann, Heinrich-Heine-University
Lasse Meißner, Heinrich-Heine-University
Peter Kenning, Heinrich-Heine-University

Read More


Personal Budgeting: Does It Work?

Christina Kan, Texas A&M University, USA
Philip M. Fernbach, University of Colorado, USA
John Lynch, University of Colorado, USA

Read More

Engage with Us

Becoming an Association for Consumer Research member is simple. Membership in ACR is relatively inexpensive, but brings significant benefits to its members.