Information processing, situation specificity, and the generality of risk-taking behavior.

Abstract

Constructed 2 structurally similar risk-taking tasks to evaluate intertask consistency of individual differences. Only the mode of response differed between tasks. A total of 92 college students served as Ss. In 1 task, Ss chose their preferred bet within each of a number of pairs of bets. In the other, Ss set selling prices for these same bets. A measure of S's preference for "long-shot" gambles was obtained from each response. Reliable individual differences were found for each measure. However, the intermeasure correlation was relatively low considering the high degree of similarity between tasks. It is argued that the 2 response modes triggered different methods of processing information about probabilities and payoffs in a way that perturbed individual differences and reduced intertask consistency. Information-processing considerations may be one important component of the situation specificity prevalent in risk-taking behavior. Results suggest that high correlations are unlikely between risk-taking measures in structurally different settings or between risk-taking and other behaviors. (24 ref.) (PsycINFO Database Record (c) 2016 APA, all rights reserved)