Individual characteristics and risk perceptions: A study with a sample from Brazil

Decisions are often made under risk and a decision-maker's risk preference naturally interferes the decision made. This study analyzes how Brazilians react when they made a decision under risk. The analysis involves the use of lotteries in a smartphone purchase scenario, attempting to identify if specific characteristics of the individuals, such as age, educational level, gender or marital situation, interferes with their risk propensity (risk averse, risk prone or risk neutral). The study concludes that in this sample only the gender factor influences the attitudes toward risk, showing that Brazilian men are averse to the risk while women are risk neutral.