Risk Preference of Adults and Children

What makes some people risk-seeking and othersrisk-averse? We investigate whether the availabilityof processing resources moderates the relationshipbetween temperament and risk preference. Furthermore,we examine the moderating role of processingresources between temperament and risk takingdevelopmentally, in younger children (aged 6),older children (aged 9), and adults. The findings arediscussed in relation to theories of risky decisionmaking that posit dual cognitive-affective appraisalprocesses, specifically the "risk-as-feelings"hypothesis of Loewenstein and colleagues (2001). Thecurrent findings lend support to the theoreticalclaims of dual-process models of risk taking. Whencognitive resources are restricted there is anincreased reliance on automatic, emotional responsesto the risky decision task.

Autorentext

Stephanie S. Hart Ph.D. received her doctorate in Psychology from University of Iowa and is an Assistant Professor of Psychology, University of Houston-Clear Lake. Irwin P. Levin, Ph.D. received his doctorate in Psychology from UCLA and is a Professor of Psychology and Research Fellow at Tippie College of Business, University of Iowa.

Klappentext
What makes some people risk-seeking and others risk-averse? We investigate whether the availability of processing resources moderates the relationship between temperament and risk preference. Furthermore, we examine the moderating role of processing resources between temperament and risk taking developmentally, in younger children (aged 6), older children (aged 9), and adults. The findings are discussed in relation to theories of risky decision making that posit dual cognitive-affective appraisal processes, specifically the "risk-as-feelings" hypothesis of Loewenstein and colleagues (2001). The current findings lend support to the theoretical claims of dual-process models of risk taking. When cognitive resources are restricted there is an increased reliance on automatic, emotional responses to the risky decision task.