VDM Verlag Risk Preference of Adults and Children: The Influence of Cognitive Load and Temperament

What makes some people risk-seeking and othersrisk-averse? We investigate whether the availabilityof processing resources moderates the relationshipbetween temperament and risk preference. Furthermore,we examine the moderating role of processingresources between temperament and risk takingdevelopmentally, in younger children (aged 6),older children (aged 9), and adults. The findings arediscussed in relation to theories of risky decisionmaking that posit dual cognitive-affective appraisalprocesses, specifically the “risk-as-feelings”hypothesis of Loewenstein and colleagues (2001). Thecurrent findings lend support to the theoreticalclaims of dual-process models of risk taking. Whencognitive resources are restricted there is anincreased reliance on automatic, emotional responsesto the risky decision task. About the Author Stephanie S. Hart Ph.D. received her doctorate in Psychology fromUniversity of Iowa and is an Assistant Professor of Psychology,University of Houston-Clear Lake.Irwin P. Levin, Ph.D. received his doctorate in Psychology fromUCLA and is a Professor of Psychology and Research Fellow atTippie College of Business, University of Iowa.