Chapter 30: A critical perspective on the conceptualization of risk in behavioral and experimental finance
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Risk is one of the key aspects in financial decision-making and therefore an integral part of the behavioral economics and finance literature. Focusing on the conceptualization of "risk," which researchers in various fields have addressed from numerous angles, this comment aims to offer a critical perspective on the interactions between risk preferences (a latent trait), risk perceptions (how individuals judge whether something is risky), and risktaking behavior as distinct concepts, and hence to guide future research on individual-level decision-making processes under risk.

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