Measuring Risk Attitude and Relation to Marketing Behavior

Jason R.V. Franken, Joost Pennings () and Philip Garcia

No 124471, 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington from Agricultural and Applied Economics Association

Abstract: Researchers employ various measures of risk attitudes to investigate their relation to market behavior with mixed results. We find that a higher-order global risk attitude construct, developed using survey scales and experiments based on expected utility theory, is related to several marketing alternatives, but does not exhibit substantially greater explanatory power than underlying measures. With few exceptions, scales yield greater significance of risk attitudes for these choices, but experimental measures reveal other insights, e.g., differential attitudes in gain and loss domains. Given recent concerns with experimental measures in the literature, we suggest studies include scales as a low cost supplemental measure.

Keywords: Marketing; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 44
Date: 2012
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea12:124471

DOI: 10.22004/ag.econ.124471

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