Abstract:  The term “risk-domain specificity” refers to the domain-specific nature of risky decision making due to the presence of factors that are particular to a certain content domain. Based on classical risky decision making theories stemming from laws of expectation, risk-taking propensity is domain-general. On the other hand, substantial evidences from past studies indicate that risk-taking propensity is domain-specific. The literature on risk-domain specificity has witnessed considerable progress in terms of mechanisms, measurements, and independent variables. Theoretically, early mainstream mechanisms deconstructed risk behavior based on a risk-return framework, whereas recent studies have validated the mechanisms with new sets of evidence and explained risk-domain specificity from the perspectives of evolution, personality and motivation. In terms of measurements, Domain-specific Risk Taking Scale (DOSPERT), as a dominant scale, has been further validated in various cultures, content domains, and groups. In comparison, other scales based on different content domains have been proven to be consistent and valid. In terms of independent variables, the regularity of risk-domain specificity has been proposed from various perspectives, such as genetics, environment and individual differences. Future research may focus on content domain integration and theory validation in detailed content domains as well as exploring regularity and mechanisms of risk-domain specificity at an individual level.

Key words: risk, risk-taking propensity, risk domains, domain specificity