Theory and Decision

, Volume 19, Issue 1, pp 1–29

A portfolio of risk measures

  • Kenneth R. Maccrimmon
  • Donald A. Wehrung
Article

Abstract

A comprehensive set of sixteen measures of willingness to take risks has been developed. This set includes measures from three categories: measures from standardized risky situations having an underlying theory of risk, measures inferred from revealed choices in financial decisions, and measures derived from attitudes. A study of over 500 top-level business executives shows significant relationships within categories, but relatively little relationship across categories. Context differences, especially personal versus business situations and opportunities versus threats, underlie the responses.

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Copyright information

© D. Reidel Publishing Company 1985

Authors and Affiliations

  • Kenneth R. Maccrimmon
    • 1
  • Donald A. Wehrung
    • 1
  1. 1.Faculty of Commerce and Business Administration, University of British ColumbiaVancouverCanada

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