This article demonstrates a technique to educate individuals on risk preferences, suggesting improved decision-making in personal choices.
As Extension professionals, we are faced with the need to educate youth and adults about risk and to assess their preference for risk; however, many find the concepts difficult to illustrate. This article lays out a simple technique that can be used to illustrate how personal attitudes toward risk change with changes in situations. Youth and adults who participate in the exercise will have a better understanding of risk and their attitudes about risk, which will lead them to make personal choices that are right for them.
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Bardon et al. (2009) studied this question.
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