Measuring an individual's tendency to take risks: the Risk Propensity Scale.

R.M. Meertens, R. Lion

Research output: Contribution to journalArticleAcademicpeer-review

Abstract

A new, short, and easily administered Risk Propensity Scale (RPS) is introduced that measures general risk-taking tendencies. This paper investigates the reliability and discriminant validity of the RPS. The RPS provided scores that yielded a good internal reliability coefficient and adequate test-retest reliability, and the scores correlated moderately to well with those of the Everyday Risk Inventory and the short Sensation-Seeking Scale. The correlation with the scores from other scales (Need for Cognition scale, Need for Structure scale, and 2 self-esteem scales) was low to moderate, indicating good discriminant validity. The findings are discussed in relation to risk-perception research using gambling experiments and in relation to their usefulness for risky decision-making research.
Original languageEnglish
Pages (from-to)1506-1520
JournalJournal of Applied Social Psychology
Volume38
DOIs
Publication statusPublished - 1 Jan 2008

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