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November 14, 2025Financial Planning Review

Domain‐Specific Predictors of Financial Risk Taking: Revisiting the Role of Knowledge, Experience, and Financial Risk Tolerance

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Authors

NPNicki PottsJGJohn GrableRMRyan O. Murphy

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Overview

Study finds knowledge and experience influence financial risk tolerance in investors, suggesting specific factors matter.

Key Points

  • Financial risk tolerance is significantly influenced by knowledge and experience, highlighting their predictive power.
  • Findings reveal that subjective financial knowledge and investment experience are key factors in financial decision-making.
  • Hierarchical partitioning analysis of data gathered from 1334 investors across multiple countries supports the Domain‐Specificity Principle.
  • Using domain-specific characteristics provides a clearer understanding of investor outcomes and risk tolerance.

Cite This Study

Potts et al. (2025) studied this question.

synapsesocial.com/papers/692519acc0ce034ddc35437dhttps://doi.org/10.1002/cfp2.70020
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