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- Title
Environmental and Biopsychosocial Profiling as a Means for Describing Financial Risk-Taking Behavior.
- Authors
Grable, John E.; Britt, Sonya L.; Webb, Farrell J.
- Abstract
A conceptual model of personal financial risk-taking behavior is described. The approach incorporated environmental and biopsychosocial factors associated with risk-tolerance attitudes and risk-taking financial management behavior. Findings indicated, similar to the method used to describe socioeconomic status, generalized profiling can be a useful tool to help researchers and policy makers improve understanding of the determinants of risk taking. Level of affluence, as described by a person's environmental profile, appeared to serve as a protection against circumstances that could lead to negative financial behavior. Risk tolerance, as a precipitating risk factor, was an important determinant of financial risk-taking behavior.
- Subjects
FINANCIAL planning; FINANCIAL management; FINANCIAL risk; INFLATION risk; FINANCIAL risk management; RISK management in business; SOCIAL status
- Publication
Journal of Financial Counseling & Planning, 2008, Vol 19, Issue 2, p3
- ISSN
1052-3073
- Publication type
Article