Risk preferences refer to an individual's attitude towards taking risks when making decisions. It is a key concept in the field of behavioral economics and finance, as it influences individuals' choices in various situations, such as investing, gambling, or career decisions. Researchers in this area study how individuals evaluate and make decisions under uncertainty, weighing the potential gains or losses against the likelihood of different outcomes. These studies seek to understand the factors that influence risk preferences, such as individual characteristics, cognitive biases, and emotional responses to risk. Overall, research on risk preferences provides valuable insights into human decision-making processes and helps policymakers, businesses, and individuals better understand and manage risk in various contexts.