Journal of Business and Psychology

, Volume 5, Issue 4, pp 525–530

Sensation seeking and financial risk taking in everyday money matters

  • Alan Wong
  • Bernardo J. Carducci
Research Notes

DOI: 10.1007/BF01014500

Cite this article as:
Wong, A. & Carducci, B.J. J Bus Psychol (1991) 5: 525. doi:10.1007/BF01014500

Abstract

The present study investigated the degree to which the previously established relationship between sensation seeking and risk taking associated with gambling could be extended to everyday financial matters (e.g., personal banking activities). The subjects, classified into high and low sensation seekers, were asked to make a series of everyday financial decisions that varied in their degrees of risk. Overall, the results indicate high sensation seekers displayed greater risk-taking tendencies in everyday financial matters than low sensation seekers. This difference in everyday financial risk taking between high and low sensation seekers was also found within each gender group. Implications and suggestions for future research involving sensation seeking in other personal and professional financial decision-making areas are also presented.

Copyright information

© Human Sciences Press, Inc. 1991

Authors and Affiliations

  • Alan Wong
    • 1
  • Bernardo J. Carducci
    • 2
  1. 1.Department of FinanceIndiana University SoutheastNew Albany
  2. 2.Department of PsychologyIndiana University SoutheastNew Albany

Personalised recommendations