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The role of perceived costs and perceived benefits in the relationship between personality and risk-related choices

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This paper considers how perceptions of costs and benefits can influence the association between personality and risky choice behaviour. We assessed perceptions and behaviours in six domains (ethical; investment; gambling; health and safety; recreational; social) using the DOSPERT and measured personality using the NEO PI-R. Results from structural equation modelling showed that personality had a direct effect on risky choice behaviour in four domains (social, ethical, gambling and recreational risk-taking). In addition, perceived costs and benefits mediated the relations between personality and risk-taking in the five domains (social, ethical, gambling, recreational and investment risk-taking). Evidence for a mechanism that integrates both direct and indirect effects of personality on behaviour is discussed.

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en

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application/pdf

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http://eprints.lse.ac.uk/28353/1/Perceived_costs_and_perceived_benefits_in_the_relationship_between_personality_and_risk_related_choices%28lsero%29.pdf

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