Abstract
A comprehensive set of sixteen measures of willingness to take risks has been developed. This set includes measures from three categories: measures from standardized risky situations having an underlying theory of risk, measures inferred from revealed choices in financial decisions, and measures derived from attitudes. A study of over 500 top-level business executives shows significant relationships within categories, but relatively little relationship across categories. Context differences, especially personal versus business situations and opportunities versus threats, underlie the responses.
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Maccrimmon, K.R., Wehrung, D.A. A portfolio of risk measures. Theor Decis 19, 1–29 (1985). https://doi.org/10.1007/BF00134352
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DOI: https://doi.org/10.1007/BF00134352