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Measuring an Individual's Tendency to Take Risks: The Risk Propensity Scale 1
Author(s) -
Meertens Ree M.,
Lion René
Publication year - 2008
Publication title -
journal of applied social psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.822
H-Index - 111
eISSN - 1559-1816
pISSN - 0021-9029
DOI - 10.1111/j.1559-1816.2008.00357.x
Subject(s) - psychology , scale (ratio) , reliability (semiconductor) , sensation seeking , discriminant validity , perception , social psychology , test validity , validity , psychometrics , internal consistency , clinical psychology , personality , power (physics) , physics , quantum mechanics , neuroscience
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.