Title
Mediational Effects of Sensation Seeking on the Age and Financial Risk-Taking Relationship
Department
Psychology
Document Type
Article
Publication Date
12-2009
Abstract
The current study examined the potential mediating role of sensation seeking in the well-established negative relationship between age and financial risk-taking. A total of 299 participants, aged 17–90years, allocated hypothetical money into mutual funds that varied in risk and completed a sensation seeking measure. Hierarchical multiple regressions revealed that the amount of variability age accounted for in risk-taking (4.1%; β =−.22) was significantly reduced when sensation seeking was controlled for (0.8%; β =−.12). A Sobel test revealed that sensation seeking fully mediated the aforementioned relationship. Results suggest sensation seeking’s role as a mediator in more physiologically arousing risk-taking contexts (e.g., surfing). Discussion recommends investigating potential biologically and cognitively-rooted mediators and moderators of the age and risk-taking relationship.
Journal Title
Personality and Individual Differences
Journal ISSN
0191-8869
Volume
47
Issue
8
First Page
917
Last Page
921
Digital Object Identifier (DOI)
10.1016/j.paid.2009.07.016