Probability, Personality, Age, and Risk Taking

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Abstract
Male and female college (n = 22) and high school (n = 18) students were presented information concerning probability and were also measured on the personality variables of independence of judgment, response set, Machiavellianism, and open-mindedness. An investigation of the risky shift phenomenon revealed that an understanding of probability did not vitiate the shift toward greater risk. Age was shown to be functionally related to risk taking, the teen years showing greater proclivity for risk than later years. Independence of judgment emerged as a powerful predictor of initial risk; Machiavellianism bore no relationship to risk taking. Both of these findings concerning personality variables were at odds with earlier work. An interpretation of contextual interaction was advanced as a possible explanation.

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