Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/240439 
Year of Publication: 
2021
Series/Report no.: 
Working Papers in Economics and Statistics No. 2021-11
Publisher: 
University of Innsbruck, Research Platform Empirical and Experimental Economics (eeecon), Innsbruck
Abstract: 
Risk is one of the key aspects in financial decision-making and therefore an integral part of the behavioral economics and finance literature. Focusing on the conceptualization of the term "risk", which researchers have addressed from numerous angles, this comment aims to offer a critical perspective on the interactions between risk preferences (a latent trait), risk perceptions (how individuals judge whether something is risky), and risk-taking behavior as distinct concepts, and hence to guide future research on (individual-level) decision-making processes in this direction.
Subjects: 
risk-taking behavior
risk preferences
risk perception
JEL: 
D81
D91
G41
Document Type: 
Working Paper

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