Abstract
This chapter provides an overview of the important role financial risk tolerance plays in shaping consumer financial decisions. A review of normative and descriptive models of risk tolerance is provided. Additional discussion regarding the measurement of risk tolerance is also presented. The chapter includes the presentation of a conceptual model of the principal factors affecting financial risk tolerance with recommendations designed to enhance the consumer finance field's knowledge of risk tolerance. The chapter concludes with a summary of additional research needed to better understand the multidimensional nature of risk tolerance. © 2008 Springer Science+Business Media, LLC.
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CITATION STYLE
Grable, J. E. (2008). Risk tolerance. In Handbook of Consumer Finance Research (pp. 3–19). Springer New York. https://doi.org/10.1007/978-0-387-75734-6_1
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