References
- Adamowicz, W, Louviere, J & Williams, M 1994, ‘Combining revealed and stated preferences methods for valuing environmental amenities’, Journal of Environmental Economics and Management, vol. 26, pp. 271–292.
- Ahmad, A, Safwan, N, Ali, M & Tabasum, A 2011, ‘How demographic characteristics affect the perception of investors about financial risk tolerance’, Interdisciplinary Journal of Contemporary Research in Business, vol. 3, no. 2, pp. 412–417.
- ASIC 2011, Review of financial advice industry practice, Australian Securities & Investments Commission, Brisbane, QLD.
- ASIC 2017, Risk management systems of responsible entities, Australian Securities & Investments Commission, Brisbane, QLD.
- Barsky, RB, Juster, FT, Kimball, MS & Shapiro, MD 1997, ‘Preference parameters and behavioral heterogeneity: an experimental approach in the health and retirement study’, The Quarterly Journal of Economics, vol. 112, pp. 537–579.
- Beauchamp, JP, Cesarini, D & Johannesson, M 2017, ‘The psychometric and empirical properties of measures of risk preference, Journal of Risk and Uncertainty, vol. 54, pp. 203–237.
- Brand, M, Fujiwara, E, Borsutzky, S, Kalbe, E, Kessler, J & Markowitsch, HJ, 2005a, ‘Decision-making deficits of Korsakoff patients in a new gambling task with explicit rules: associations with executive functions’, Neuropsychology, vol. 19, pp. 267–277.
- Buss, AH 1989, ‘Personality as traits’, American Psychologist, vol. 44, pp. 1378–1388.
- Certified Financial Planner Board of Standards Inc 2018, Code of Ethics and Standards of Conduct, CFP Board Washington, DC.
- Charness, G, Gneezy, U & Imas, A 2013, ‘Experimental methods: eliciting risk preferences’, Journal of Economic Behavior & Organization, vol. 87, pp. 43–51.
- Corter, JE & Chen, YJ 2006, ‘Do investment risk tolerance attitudes predict portfolio risk?’, Journal of Business and Psychology, vol. 20, pp. 369–381.
- Dave, C, Eckel, CC, Johnson, CA & Rojas, C 2010, ‘Eliciting risk preferences: when is simple better? Journal of Risk and Uncertainty, vol. 41, pp. 219–243.
- Dohmen, T, Falk, A, Huffman, D, Sunde, U, Schupp, JU & Wagner, GG 2011, ‘Individual risk attitudes: measurement, determinants, and behavioral consequences’, Journal of the European Economic Association, vol. 9, pp. 522–550.
- Dow, J & Werlang, SRDC 1992, ‘Uncertainty aversion, risk aversion, and the optimal choice of portfolio’, Econometrica, vol. 60, pp. 197–204.
- Eckel, CC & Grossman, PJ 2008, ‘Forecasting risk attitudes: an experimental study using actual and forecast gamble choices’, Journal of Economic Behavior & Organization, vol. 68, pp. 1–17.
- Ellsberg, D 1961, ‘Risk, ambiguity and savage axioms’, Quarterly Journal of Economics, vol. 75, pp. 643–679.
- Faff, R, Hallahan, T & McKenzie, M 2009, ‘Nonlinear linkages between financial risk tolerance and demographic characteristics’, Applied Economics Letters, vol. 16, pp. 1329–1332.
- Fischhoff, B, Slovic, P, Lichtenstein, S, Read, S & Combs, B 1978, ‘How safe is enough? A psychometric study of attitudes towards technological risks and benefits’, Policy Sciences, vol. 9, pp. 127–152.
- Frey, R, Pedroni, A, Mata, R, Rieskamp, J, & Hertwig, R 2017, ‘Risk preference shares the psychometric structure of major psychological traits’, Science Advances, vol. 3, DOI: 10.1126/sciadv.1701381.
- Grable, JE & Lytton, RH 1999, ‘Financial risk tolerance revisited: the development of a risk assessment instrument’, Financial Services Review, vol. 8, no. 3, pp. 163–181.
- Hanna, SD & Lindamood, S 2004, ‘An improved measure of risk aversion’, Journal of Financial Counseling and Planning, vol. 15, no. 2, pp. 27–45.
- Hanna, SD, Gutter, MS & Fan, JX 2001, ‘A measure of risk tolerance based on economic theory’, Journal of Financial Counseling and Planning, vol. 12, no. 2, pp. 53–60.
- Houthakker, HS 1950, ‘Revealed preference and the utility function’, Economica, New Series, vol. 17, pp. 159–174.
- Joseph, AK, Richter, D, Samanez-Larkin, GR, Wagner, GG, Hertwig, R & Mata, R 2016, ‘Stability and change in risk-taking propensity across the adult life span’, Journal of Personality and Social Psychology, vol. 111, pp. 430–450.
- Knight, FH 1921, Risk, Uncertainty, and Profiit, Sentry Press, New York.
- Kuzniak, S, Rabbani, A, Heo, W, Ruiz-Menjivar, J & Grable, JE 2015, ‘The Grable and Lytton risk tolerance scale: a 15-year retrospective’, Financial Services Review, vol. 24, pp. 177–192.
- LÖnnqvist, J-E, Verkasalo, M, Walkowitz, G & Wichardt, PC 2015, ‘Measuring individual risk attitudes in the lab: task or ask? An empirical comparison’, Journal of Economic Behavior & Organization, vol. 119, pp. 254–266.
- Moore, S 2018, ‘Communication task difficulty in investment risk profiling: a linguistic perspective’, Financial Planning Research Journal, vol. 4, no. 1, pp. 33–52.
- Nunnally, J & Bernstein, L 1994, Psychometric Theory, McGraw-Hill, New York.
- Pett, JA 2016, Nonparametric statistics for health care research: Statistics for small samples and unusual distributions (2nd ed.), Sage, Los Angeles.
- Rabbani, AG, Grable, JE, Heo W, Nobre, L & Kuzniak, S 2017, ‘Stock market volatility and changes in financial risk tolerance during the Great Recession’, Journal of Financial Counseling and Planning, vol. 28, no. 1, pp. 140–154.
- Remler, DK, & Van Ryzin, GG 2015, Research Methods in Practice (2nd ed.), Sage, Los Angeles.
- Reynaud, A & Couture, S 2012, ‘Stability of risk preference measures: results from a field experiment on French farmers’, Theory and Decision, vol. 73, pp. 203–221.
- Richter, MK 1966, ‘Revealed preference theory’, Econometrica, vol. 34, pp. 635–645.
- Samuelson, PA 1948, ‘Consumption theory in terms of revealed preference’, Economica, New Series, vol. 15, pp. 243–253.
- Schiebener, J & Brand, M 2015, ‘Decision making under objective risk conditions–a review of cognitive and emotional correlates, strategies, feedback processing, and external influences’, Neuropsychology Review, vol. 25, no. 2, pp. 171–198.
- Weber, EU, Blais, A-R & Betz, NE 2002, ‘A domain-specific risk-attitude scale: measuring risk perceptions and risk behaviors’, Journal of Behavioral Decision Making, vol. 15, pp. 263–290.
- Weber, EU & Johnson, EJ 2009, ‘Decisions under uncertainty: psychological, economic, and neuroeconomic explanations of risk preference’, in Glimcher, PW, Camerer, CF, Fehr, E & Poldrack, RA (eds.) Neuroeconomics: Decision Making and the Brain, Elsevier, Oxford, UK, pp. 127–144.