Measuring Generalized Risk Orientation with a Single Survey Item

Maestas, Cherie D.; Pollock, William

doi:10.2139/ssrn.1599867

Cited by 14 publications

(14 citation statements)

References 10 publications

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“…While multi-item scales are ideal to measure risk orientation, when faced with limited space on national survey batteries, scholars note that this single-item measure can provide a reliable and valid assessment of an individual's proclivity for risk (Nadeau, Martin, and Blais 1999;Ehrlich and Maestas 2010;Maestas and Pollock 2010). In this study, we opted for a single-item measure due to survey space constraints.…”

Section: Control Variablesmentioning

confidence: 99%

“…We believe that risk orientation will moderate one’s risk perception and in turn impact their welfare opinions. We measure risk orientation by asking respondents how comfortable (or uncomfortable) they are in taking risks when making financial, career or other life decisions denoted as risk orientation (Maestas and Pollock 2010). The variable uses a seven-point ordinal scale, where one end represents extreme risk acceptance and the opposite pole represents extreme risk aversion 6 .…”

Section: Data and Analysismentioning

confidence: 99%

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It could happen to you: how perceptions of personal risk shape support for social welfare policy in the American States

Milita¹,

Bunch²,

Yeganeh³

2019

J. Pub. Pol.

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Is public support for social welfare programs’ contingent on an individual’s exposure to risk? Prior work has examined whether tough economic times lead people to “reach out” (i.e. become more accepting of government expansion of social welfare programs) or “pull back” (i.e. become less supportive of welfare). However, these studies do not account for the conditional relationship between an individual’s exposure to risk and his or her risk orientation. Using new survey data, we find that an individual’s risk orientation moderates the relationship between risk exposure and public support for welfare spending. When individuals perceive exposure to economic risk, those who are risk averse are highly supportive of welfare expansion; those who are risk acceptant become less supportive. Broadly, these findings suggest that public support for welfare spending is contingent on whether an individual perceives exposure to risk and, if so, the individual’s propensity to tolerate that risk.

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Section: Control Variablesmentioning

confidence: 99%

Section: Data and Analysismentioning

confidence: 99%

It could happen to you: how perceptions of personal risk shape support for social welfare policy in the American States

Milita¹,

Bunch²,

Yeganeh³

2019

J. Pub. Pol.

View full text Add to dashboard Cite

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“…Please note that 1 indicates that you avoid taking any risks at all costs and 10 indicates that you engage in extremely risky and dangerous behaviors"). A single item rated on a Likert scale has been shown to be a valid and reliable way of assessing generalized risk orientation in different settings (Dohmen et al, 2011;Maestas & Pollock, 2010). …”

Section: Indices Of Risk-avoidancementioning

confidence: 99%

Clinical implications of risk aversion: An online study of risk-avoidance and treatment utilization in pathological anxiety

Lorian

Grisham

2011

Journal of Anxiety Disorders

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“…First, we used a single-item measure of risk orientation that asks participants to rate their overall comfort with taking risks from extremely comfortable to extremely uncomfortable. 6 Second, we used the Risk Propensity Scale (RPS), a seven-item self-report measure of an individual's general propensity to take risks. 7 For the RPS, the summary score was calculated by rescaling each of the items so that higher scores were associated with preference for risk seeking.…”

Section: Participants and Methodsmentioning

confidence: 99%

Risk attitudes and risk perceptions in individuals with multiple sclerosis

Glanz

Greeke

LaRussa

et al. 2016

Multiple Sclerosis Journal - Experimental, Translational and Cl

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BackgroundLittle is known about risk attitudes and risk perceptions in multiple sclerosis (MS).ObjectivesThe objectives of this paper are to investigate the range of risk attitudes and risk perceptions and examine associations between risk attitudes and risk perceptions and demographic and clinical features of the disease.MethodsA total of 223 individuals completed a risk questionnaire. Risk attitude was measured using two rating scales and a standard gamble scenario. Risk perception was measured by asking participants to estimate the likelihood of disease progression and the likelihood of minor and serious side effects associated with common MS therapies.ResultsParticipants were risk neutral overall and risk averse on issues related to health and safety. There was a significant association between disease duration and risk attitude, with patients with longer disease duration showing greater tolerance for risk. On the standard gamble scenario, males were significantly more likely to take treatments with a likelihood of death of 1:10,000 or 1:100,000 than females. Individuals with higher disability or a progressive disease course were significantly more likely to expect progression at two, five and 10 years.ConclusionIndividuals with MS demonstrate low tolerance for risk. Risk attitudes and perceptions are influenced by some demographic and clinical features of the disease.

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Measuring Generalized Risk Orientation with a Single Survey Item

Cited by 14 publications

References 10 publications

It could happen to you: how perceptions of personal risk shape support for social welfare policy in the American States

It could happen to you: how perceptions of personal risk shape support for social welfare policy in the American States

Clinical implications of risk aversion: An online study of risk-avoidance and treatment utilization in pathological anxiety

Risk attitudes and risk perceptions in individuals with multiple sclerosis

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