A Unidimensional Scale for Measuring Risk Attitudes in Uncertain Travel Environments: Construction and Validation

Risk attitudes play a key role in travel choices under uncertainty. Current practice of a-priori segmenting travelers into risk takers, risk avoiders and a risk-neutral category or of identifying latent classes based on actual travel decisions is limited in that (i) it does not cover the full spectrum of risk attitudes on a continuous scale, and (ii) it does not measure stable personality traits. Based on the conjecture that decision-making under uncertainty is domain-specific, the goal of this study is to develop a unidimensional scale for measuring risk attitudes in uncertain travel environments that does not exhibit these limitations. The paper discusses the development of the scale. Results of (confirmatory) factor analysis and Cronbach's alpha confirm the unidimensionality and the validity of the constructed scale.

Language

  • English

Media Info

  • Media Type: DVD
  • Features: References; Tables;
  • Pagination: 10p
  • Monograph Title: TRB 89th Annual Meeting Compendium of Papers DVD

Subject/Index Terms

Filing Info

  • Accession Number: 01154785
  • Record Type: Publication
  • Report/Paper Numbers: 10-1984
  • Files: TRIS, TRB
  • Created Date: Jan 25 2010 10:55AM