Two-Outcome Risky Decision Task

Lauriola, M., Levin, I. P., & Hart, S. S. (2007). Common and distinct factors in decision making under ambiguity and risk: A psychometric study of individual differences. Organizational Behavior and Human Decision Processes, 104(2), 130-149.external image clear.gifdoi:10.1016/j.obhdp.2007.04.001


Table of Contents

Description

History of Use

References

Description:

Purpose
The Two-Outcome Risky Decision Task was designed to assess risk preferences through choices between gambles.
Questions
32 gambles, each with 2 options with the same expected value:
  • amount of money with probability p or nothing with probability 1-p
  • sure amount of money (p=100%)
Gambles varied along the following dimensions:
  • 16 trials involved gains and 16 trials involved losses
  • probability p was .02, .05, .25 or .50
  • expected value was $1, $10, $100, or $1000
Sub-scales
N/A
Domain

Psychometrics

Sample items
Exact wording not reported.

References:

Scale:
Lauriola, M., Levin, I. P., & Hart, S. S. (2007). Common and distinct factors in decision making under ambiguity and risk: A psychometric study of individual differences. Organizational Behavior and Human Decision Processes, 104(2), 130-149.doi:10.1016/j.obhdp.2007.04.001
Uses:
Leikas, S., Lindeman, M., Roininen, K., & Lahteenmak, L. (2009). Avoidance Motivation, Risk Perception and Emotional Processing. [Article]. European Journal of Personality, 23(2), 125-147. doi: 10.1002/per.708

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