AKSHI

20221605
POSITIVE PSYCHOLOGY
OBJECTIVE: To study the relation between optimism and risk taking behaviours among
college going students and working adults.
INTRODUCTION
An optimistic mindset or perspective is one that has a hopeful outlook on life and the future.
Even in difficult or ambiguous circumstances, it entails believing that pleasant outcomes are
more likely to occur. Those who are optimistic have a propensity to see the opportunities,
possibilities, and positive aspects of events, which can help them become more resilient, feel
better, and have a more positive outlook on life. Some people tend to see the positive aspects
of things, while others see the negative. Martin Seligman (1980) defined optimism as the
tendency to attribute positive events to one's own character or efforts while attributing
negative events to external factors. He argued that optimistic individuals tend to have a more
positive outlook on life. while Albert Bandura (1987) viewed optimism as self-efficacy—the
belief in one's own ability to achieve goals and overcome challenges. According to Bandura,
people with high self-efficacy are more optimistic about their chances of success.
Dispositional Optimism (Scheier and Carver,1985)
According to Charles S. Carver and Michael F. Scheier, dispositional optimism is a notion
that describes a person's general anticipation that positive things will happen in their life and
that bad events are either situation-specific, transient, or under control. Put otherwise, it
symbolizes a person's general optimistic attitude towards life. Self-report questionnaires are
frequently used to measure dispositional optimism; the most well-known of these is the Life
Orientation Test (LOT). This exam gauges a person's overall perspective on life, emphasizing
their views about the future and their capacity for influence over events. A more optimistic
attitude is suggested by high LOT scores, whilst a more gloomy outlook is suggested by low
values. In their 2009 study of The Benefits of Optimism, Suzanne and Mille examined the
connection between dispositional optimism and a range of health outcomes. The researchers
discovered that improved immune system performance, less psychological discomfort, and
general improved health were all linked to higher levels of optimism.
Learned Optimism (Martin Seligman, 1978).
The idea that people can learn to have a more upbeat and optimistic attitude on life is known
as "learned optimism," and it was first proposed by Martin Seligman in 1978. Changing one's
explanatory style, or how one interprets and explains life's events, can help people adopt a
more positive outlook, according to Seligman's research. The explanatory style, which refers
to an individual's habitual way of explaining and interpreting life events, particularly negative
ones. It involves how people attribute the causes of these events and the implications they
draw from them. Seligman identified three key dimensions of explanatory style: permanence,
pervasiveness, and personalization. Permanence refers to whether a person sees the causes of
negative events as permanent or temporary. Pervasiveness refers to whether a person
interprets the causes of negative events as affecting all aspects of their life or specific to a
particular situation. Personalization relates to whether an individual attributes negative events
to their own shortcomings or external factors. Seligman's research suggests that a more
optimistic explanatory style, emphasizing temporary, specific, and external causes, can lead
to greater resilience, improved mental health, and a more positive outlook on life.
Studies involving college students also revealed this increased motivation (Solberg Nes,
Evans, & Segerstrom, 2009). Perhaps because optimistic tendencies have been linked to
higher persistence, higher optimism was also associated with better grade point averages in
academic contexts (Segerstrom & Solberg Nes, 2006).

APPLICATION OF OPTIMISM
Numerous areas of life might benefit from optimism. Optimism is a powerful psychological
tool when it comes to mental health and wellbeing. People can increase their resilience to
adversity by maintaining an optimistic mindset. A person's capacity to successfully deal with
life's obstacles can be improved by having a positive outlook. It promotes optimism, which
helps lessen the effects of anxiety and sadness. Furthermore, optimism frequently results in
increased life satisfaction, empowering people to face the challenges of life with more
satisfaction and meaning.
Optimism offers concrete advantages for physical health in addition to its effects on mental
health. Positive people frequently adopt healthy living habits including regular exercise and a
well-balanced diet. In turn, these actions support better general health outcomes. Optimism
has also been linked to a lower chance of developing chronic diseases and a quicker recovery
from illnesses or medical treatments. This optimistic perspective on health can motivate
people to take proactive measures to preserve and improve their physical well-being, which
will ultimately result in a more rewarding and healthier life.
Studies involving college students also revealed this increased motivation (Solberg Nes,
Evans, & Segerstrom, 2009). Perhaps because optimistic tendencies have been linked to
higher persistence, higher optimism was also associated with better grade point averages in
academic contexts (Segerstrom & Solberg Nes, 2006).
RISK TAKING BEHAVIOUR
Individuals who participate in risk-taking activity do acts or make decisions that could have
unfavorable outcomes, such as the possibility of suffering physical harm, incurring financial
loss, or having unfavorable social repercussions. These actions entail making decisions that
subject the person to potentially dangerous or unclear outcomes. Laurence Steinberg and M.
Kyle Garner, 1984 defined risk-taking behavior in adolescence as "engaging in actions that
carry the potential for harmful consequences, especially when those consequences are more
likely than not to occur." And Byrnes and Miller (1999) defined risk taking behaviour as
"engagement in actions that have potentially negative outcomes but also potentially positive
outcomes."
Taking risks and optimism frequently go hand in hand because those who are more optimistic
may be more likely to take certain kinds of risks. Those who are optimistic may see risks as
chances for good things to happen and are more likely to have faith in their capacity to deal
with potential unfavorable results. Excessive optimism can sometimes result in harmful
behaviors if people misjudge the potential negative effects of their activities, even though it
can also lead to adaptive risk-taking. Risk-taking behavior's impact on positive or bad
outcomes in numerous life areas depends critically on the ability to strike a balance between
optimism and a realistic evaluation of hazards. In 2011 study "Risk Taking in Competitive
Environments: Evidence from Match Play Golf Tournaments" by Devin G. Pope and Maurice
E. Schweitzer In this research, professional golfers' risk-taking behavior in competitive
settings was examined. Golfers are more likely to take chances when they are lagging behind
their rivals, according to the study, which suggests that competitiveness may have an impact
on risk-taking.
REVIEW OF LITERATURE
Moutafi et al. (2003) conducted research to investigate how dispositional optimism influences
risk-taking behavior in decision-making. Participants were presented with decision scenarios
that involved different levels of risk and uncertainty. The study found that individuals with
higher levels of dispositional optimism tended to make riskier decisions. Optimistic
individuals were more likely to take chances in situations where the outcomes were uncertain,
suggesting that optimism may be associated with a greater tolerance for risk.
A study by Prabhakar et al. (1996) looked at optimism bias as the root cause of young drivers'
propensity for taking risks. We took into account the differences between younger and older
drivers. Respondents, both male and female, exuded excessive confidence in their ability to
drive. Males were more optimistically biased than females, and this optimism effect grew
with age. The survey's overestimation of the number of casualties in all traffic accidents could
lead to optimism bias in driving abilities and even the perception that one is immune to traffic
accidents because one believes that others are worse off than oneself.
Research on the effects of emotional states, such as optimism, on risk-taking behavior was
done by Lerner and Keltner (2001). After being exposed to various emotional states,
participants were asked to make choices that could result in gains or losses. Positive
emotions, which are frequently linked to optimism, may promote risk-taking, according to the
research. Positive emotions made participants more open to taking chances, especially when
the rewards could be substantial.
Bouchard and McGue (2003) examined the relationship between optimism and risk-taking
by conducting an experiment to see if optimism could predict people's tendency to focus on
the consequences of risky behavior. They discovered that optimists have a propensity to focus
on the positive effects of risk, whereas pessimists tend to focus on the negative effects, and
that this propensity to focus on the outcomes influences the actual behavior of taking risks.
They proposed that dispositional optimism, rather than leading to a mistaken perception of
probability, may primarily influence risk-taking by drawing attention to particular outcomes.
A study by Zuckerman and Kuhlman (2000) looked at how dispositional optimism and mood
affected risk-taking behavior in Chinese and American college students. An autobiographical
mood induction task, the Raven's Advanced Progressive Matrices reasoning task on easy,
medium, or hard difficulty for hypothetical money, and a dispositional optimism
questionnaire were used to evaluate 231 college students. In the American sample, there was
a decrease in risk-taking, or choosing easier puzzle difficulties, when dispositional optimism
and positive mood were higher. However, in the Chinese sample, there was an increase in
risk-taking decisions, or choosing harder difficulties. These results imply that mood and
optimism may have different effects on decision-making depending on a person's nationality
or culture.
HYPOTHESES
1) There is no significant relationship between optimism and risk taking behavior among
college going students and working adults
2) There will be no significant difference among college going and working adults in terms of
risk-taking behaviors
3) There will be no significant difference among college going and working adults in terms of
optimism
METHOD
SAMPLE
A total number of _ participants were assessed for the study in two age groups. First is the
college going students of 18 to 21 years of age (N-197) and the second is working adults in
the age range of 28-40 years. (N-164)
The individual data for this study was collected from three male college going students and
three male working adults.
Measures
Two tools were used in the present study, namely LOT-R(for measuring optimism) and
DOSPERT( For measuring risk taking behavior).
LOT-R (Revised Life Orientation Test) was developed by Scheier, Carver and Bridges
in 1994. The questionnaire contains 10 items that measure optimism in individuals. The
scale has an internal consistency of 0.82, and a test-retest reliability of 0.75 (Scheier,
Carver & Bridges, 1994). The scale is a five point likert scale with each item having five
options to choose from, namely, strongly disagree, disagree, neutral, agree, and strongly
agree, all of which are scored in a 0, 1, 2, 3, 4 fashion respectively.

DOSPERT (Domain Specific Risk-taking ) scale was developed by Weber, Blais, and
Betz in 2002. The scale measures risk-taking behaviours in five domains namely,
Financial, Health/Safety, Social, Ethical, and Recreational.The internal consistency of the
different domains was found to be 0.68 to 0.80 (Shou & Olney, 2020). The scale has 30
items and is a seven point likert scale with each item having seven options namely,
extremely unlikely, moderately likely, somewhat likely, not sure, somewhat likely,
moderately likely, and extremely likely, each of which is scored in a 1 to 7 fashion
respectively.

Design
The design of the present study is correlation design. A correlation research design is a
quantitaive research design that investigates relationship between two (or more) variables
without the researcher controlling or manipulating any of them.
Procedure
1. Through brainstorming and class discussion, the research topic was chosen.
2. Based on the goal, a research question was developed, and the right instruments for the
practical were chosen.
3. Next, a Google form was created with the intention of gathering data.
4. Personal information was gathered. Every person was expected to gather information
from six people, three of whom belonged to the 18–21 age group and three to the 28–40
age group.
5. Individual data was pooled following data collection.
6. The Jamovi program was then used to conduct the analysis.
7. The data was interpreted in light of the findings.
Analysis
The t-test and Pearson correlation were used to analyze the data. The t-test was used to
examine the difference between the two groups, and Pearson correlation was used to
examine the relationship between the variables. For the same, Jamovi software was
employed.
Results
The following tables provide a summary of the findings from the analysis:

GROUP N MEAN MEDIAN SD SE

RISK T 1 197 111.4 112.0 22.68 1.616
2 164 109.5 109.0 23.21 1.812
OPTIMISM T 1 197 13.2 13.0 4.10 0.292
2 164 14.0 14.0 3.50 0.273
Table 1: The descriptives of the group data

RISK T OPTIMISM T

RISK TAKING Person’s r -

p-value -
OPTIMISM TAKING Person’s r -0.054 -
P value 0.310 -
Table 2: Correlation matrix
 STATISTIC df p
RISK T Student’s t 0.749 359 0.428
OPTIMISM T Student’s t -2.012 359 0.045*
Table 3: T-test

INTERPRETATION AND DISCUSSION

The objective of the practical was to study the relationship between optimism and risk
taking behaviour among college going students and working adults. 362 participants from
two age groups : 18 to 21 (N= 197) and 28 to 40 (N=164) were assessed using both LOT-
R and DOSPERT scales.

The findings show that among college-bound students and working adults, there was no
discernible relationship between optimism and risk-taking behaviors. Therefore, it is not
possible to reject the first hypothesis. One possible explanation for this could be the
incompleteness of the data resulting from the inability to obtain responses in person.
According to Cartesen et al. (2008), there is also a chance that the nature of the risky work
plays a crucial role in the association between optimism and risk acceptance. Precise
probabilities and pure chance-related risk are the two prerequisites for a positive
correlation between optimism and risk-taking. The present practicum's measurement items
do not place a lot of focus on chance-based risk.

In terms of optimism, there is a significant difference (p=0.045) between college-bound kids

and working adults (at the alpha level of 0.05). As a result, the third theory is no longer
valid. It has been discovered that working adults are more upbeat than college students.
Numerous research have indicated that optimism rises with age (e.g. Whang, 2020). It has
been discovered that elderly persons' increased spiritual engagement may be the cause of
this. According to Dutton et al. (1976), younger participants definitely lacked optimism
since older individuals judged their lives as better than younger participants imagined their
lives would be at the same age. Furthermore, employed adults have more stable relationships
and finances (Lejuz et. al., 2005).

Regarding risk-taking behaviors, however, no significant difference has been discovered

between working people and college students. It is therefore unsuccessful to dismiss the
second hypothesis. Because there is no discernible overall difference, it is possible that both
age groups have high risk-taking behaviors in distinct domains or areas. At least for men,
older age causes a sharp decline in risk-taking tendencies in the financial sphere.
Comparatively, risk-taking in the social sphere decreases more sharply as one ages, while it
decreases more steeply in the leisure sphere from childhood to middle age. As people age,
accepting health and ethical risks declines more gradually (Dougel et al. 2008)

CONCLUSION
Among college-going students and working adults, there was no
significant correlation between optimism and risk-taking behaviors. There is no significant
difference in the risk-taking behaviors of working people and college students. There is a
significant difference in optimism between college going students and working adults
(p=0.045) at the alpha level of 0.05.
LIMITATIONS
The following are the constraints of the practical:
1. The results cannot be generalized because there are no controls in the correlational
research methodology that was selected.
2. There wasn't much attention paid to the review of the literature because of time
restrictions.
3. The convenience sampling approach used meant that the samples were out of
proportion.

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