Journal of Economics and Social Sciences
Vol. 5 No. 1 (2026)

The Effect of Demographic Factors on Risk Tolerance and Investment Instrument Choice: Evidence From Indonesian Investors

Jumeil, T Muhammad (Unknown)
Asmara, Desy (Unknown)

Article Info

Publish Date
21 Feb 2026

Abstract

Traditional economics portrays investors as rational decision-makers, but this assumption doesn’t always true. Investment decisions are shaped by various factors, one of which is the investor's demographic profile. This study aimed to ascertain whether differences exist in risk tolerance levels and the selection of investment instruments among investors based on demographic variables. Data were gathered through an online questionnaire. The findings reveal significant differences in risk tolerance levels correlated with the demographic variables of age and marital status. Additionally, the results indicate variations in the selection of investment instruments based on the demographic factors of gender, education, and income.

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Journal Info
Journal of Economics and Social Sciences
Website

Abbrev

jess

Publisher

CV. Civiliza Publishing

Subject

Agriculture, Biological Sciences & Forestry Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Materials Science & Nanotechnology Social Sciences

Description

ournal of Economics and Social Sciences (JESS) is a peer-reviewed journal published twice a year (every June and December) by CV. Civiliza Publishing. Journal of Economics and Social Sciences (JESS) accepts original scientific papers that have never been published. The discussion in this journal ...