Risk Taking Behaviours Flashcards
(35 cards)
What is Risk Propensity
an individual’s tendency to show either risk seeking or risk avoidance attitude
What factors influence risk taking behaviours
Thrill Seeking, Substance Abuse, Social Influences
What happens when there is a risk shift
There is a shift from risk aversion to risk preference when a need has to be fufilled
Define Risk Behaviour
An outcome that may occur with a certain probability
What did Fuller (1988) suggest
There is an unconscious process that occurs
What Three terms did Fuller (1988) derive
Hazard, Danger and Threat
What is the Prospect Theory of Framing
Being presented with 2 or more options, which are worded differently with the same outcome
Why is Framing important in Risk Taking Behaviours
It makes people feel like they are getting a better outcome
Figner et al 2019 found what
The older you get the more likely you are to risk avoid
Why are Adolescents and Young Adults more likely to Risk Seek
To gain social status, fitness relative outcome, approach mates and control resources
What is the Biological Framework
Every risky decision that meets ones needs, guarantees survival and enhances reproductive success and fitness
What is the Isolation Effect
Indivdiuals tend to simplify choices between alternatives by focusing on components that make them different.
What is Loss Aversion.
Individuals minimising their losses because it can be more painful than the gain
Can you think of an example of Loss Aversion
Loosing £10 causes more distress than finding £10
What does the Evolutionary Perspective prove
Risk taking behaviour is Dominance Specific.
What does Risk Sensitivity Propose
Individuals tend to prioritise their needs by allocating time and energy accordingly
Example of Risk Sensitivity
An animal is well fed, or has high status is less likely to chance for a larger reward when a smaller, certain amount is available
What does the Biological Framework specify
underlying fitness/ motivation drives all behaviours
What is a critique about the Biological Perspective
It is an animal-based model, ignoring subjective perceptions and does not offer mechanisms involving emotions
What are the different types of Risk Propensity measures
Single items, multiple items, scenarios and behavioural games
What did Dohmen et al (2011) develop
The Single-term Measure (Dohmen Measure)
What is the Dohmen Measure?
An individuals willingness to engage in risk actions
What was the results of the Dohmen Measure
age was negatively associated and men were more willing to take risks
Limitation to Risk Propensity Single Item Measures (Dohmen Measure)
- health and social domains not explored
- questions were abstract and did not provide concrete examples of financial, occupational or leisure risks
- vagueness and lack of clarity may introduce significant random measurement errors
