Scale Overview
The Risk Aversion Measure (RAM) was developed by Timothy A. Judge, Daniel M. Cable (1994). It is designed to measure Risk Aversion. The scale is intended for use with Adults.
Scale Structure
This instrument consists of 8 items.
Response Format
Respondents rate each item using a 5-point Likert scale (1 = Strongly Disagree to 5 = Strongly Agree).
The scale includes 1 reverse-scored items to reduce acquiescence bias.
Scoring
Item scores are averaged to produce a mean score.
Total scores range from 1 to 5. Interpretation guidelines:
- Low Risk Aversion (Risk Seeking): 1 – 2
- Moderate Risk Aversion: 2 – 3
- High Risk Aversion: 3 – 5
Administration
The scale is self-administered and typically takes approximately 3 minutes to complete. It can be administered individually or in group settings. No special training is required for administration.