The role of perceived costs and perceived benefits in the relationship between personality and risk-related choices

Emma Soane, Chris Dewberry and Sunitha Narendran

Journal of Risk Research, 2010, vol. 13, issue 3, 303-318

Abstract: This paper considers how perceptions of costs and benefits can influence the association between personality and risky choice behaviour. We assessed perceptions and behaviours in six domains (ethical; investment; gambling; health and safety; recreational; social) using the DOSPERT and measured personality using the NEO PI-R. Results from structural equation modelling showed that personality had a direct effect on risky choice behaviour in four domains (social, ethical, gambling and recreational risk-taking). In addition, perceived costs and benefits mediated the relations between personality and risk-taking in the five domains (social, ethical, gambling, recreational and investment risk-taking). Evidence for a mechanism that integrates both direct and indirect effects of personality on behaviour is discussed.

Date: 2010
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DOI: 10.1080/13669870902987024

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