MULTIMETHODOLOGICAL APPROACH TO EXAMINING RISK-TAKING

Research on risk-taking behavior has shown to yield inconsistent findings. Three studies were conducted using four different analysis techniques. The first study used a phenomenological approach and qualitative analysis to gain an understanding of risk-taking. A model of factors relating to risk-taking was developed and tested in a second study. The third study was conducted to develop scales of risk and used magnitude estimation and multidimensional scaling techniques. Results from the studies confirmed the multidimensionality of the construct of risk-taking. Also indicated was a gender difference in risk-taking behavior and perception. These studies expand our knowledge of risk-taking behavior in that 1) a method of categorizing risks was developed, 2) gender similarities and differences in risk-taking were explored, and 3) perceived magnitude and underlying dimensions of risk were developed.