Individual differences in risk-taking preference of undergraduate students

Abstract

Risk-taking preference is an important contributor to undergraduates' decisions and behavior. This study aims to explore the associations between risk-taking preference and demographic factors and psychological traits. Undergraduates from Bogazici University (N=177, 42% female) completed questionnaires during a lab session. Risk-taking preference was measured by a well-established general risk question. The results showed that individuals who are older, male, and have higher income exhibit higher risk-taking preference. Furthermore, those with higher extraversion, agreeableness, openness and self-esteem, and with lower neuroticism and trait anxiety, had higher risk-taking preference. Gender differences among these associations and implications for students' behavior is discussed.