Advanced Search
MyIDEAS: Login

Mortality Risk Perceptions: A Bayesian Reassessment

Contents:

Author Info

  • Hakes, Jahn K
  • Viscusi, W Kip

Abstract

This paper uses a Bayesian learning model to assess the respective influence of different risk measurements on mortality risk perceptions. People form risk beliefs using several sources of information, including the actual population mean death risk level the discounted lost life expectancy, and the age-specific hazard rate considered by Benjamin and Dougan (1997). The appropriate criterion for judging the validity of risk perceptions is not the perfect information case, but rather whether people form their risk beliefs in a rational manner given a world of costly and limited risk information. Although the statistical results support the overall conclusion that the learning process is rational, the character of the learning process differs depending on the risk level. Risk-related variables are much better predictors of larger risks than of small risks which reflects the role of information costs and the benefits of learning about larger risks. Copyright 1997 by Kluwer Academic Publishers

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://journals.kluweronline.com/issn/0895-5646/contents
File Function: link to full text
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 15 (1997)
Issue (Month): 2 (November)
Pages: 135-50

as in new window
Handle: RePEc:kap:jrisku:v:15:y:1997:i:2:p:135-50

Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100299

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Glenn C. Blomquist, 2003. "Self Protection and Averting Behavior, Values of Statistical Lives, and Benefit Cost Analysis of Environmental Policy," NCEE Working Paper Series 200302, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Mar 2003.
  2. ANDERSSON Henrik, 2008. "Perception of Own Death Risk : A Reassessment of Road-Traffic Mortality Risk," LERNA Working Papers 08.26.270, LERNA, University of Toulouse.
  3. Trudy Cameron, 2005. "Updating Subjective Risks in the Presence of Conflicting Information: An Application to Climate Change," Journal of Risk and Uncertainty, Springer, vol. 30(1), pages 63-97, January.
  4. Georges Dionne & Claude Fluet & Denise Desjardins, 2007. "Predicted risk perception and risk-taking behavior: The case of impaired driving," Journal of Risk and Uncertainty, Springer, vol. 35(3), pages 237-264, December.
  5. Adeline Delavande, 2005. "Measuring Revisions to Subjective Expectations," 2005 Meeting Papers 682, Society for Economic Dynamics.
  6. Joan Costa-Font & Montserrat Costa-Font, 2011. "Explaining Optimistic Old Age Disability and Longevity Expectations," Social Indicators Research, Springer, vol. 104(3), pages 533-544, December.
  7. Hyytinen, Ari & Pajarinen, Mika, 2005. "Why Are All New Entrepreneurs Better Than Average? Evidence from Subjective Failure Rate Expectations," Discussion Papers 987, The Research Institute of the Finnish Economy.
  8. Andrea M. Leiter & Gerald J. Pruckner, 2006. "Proportionality of Willingness to Pay to Small Risk Changes – The Impact of Attitudinal Factors in Scope Tests," Working Papers 2006.90, Fondazione Eni Enrico Mattei.
  9. Olivier Armantier, 2006. "Estimates of Own Lethal Risks and Anchoring Effects," Journal of Risk and Uncertainty, Springer, vol. 32(1), pages 37-56, January.
  10. Andersson, Henrik & Lundborg, Petter, 2006. "Perception of Own Death Risk: An Analysis of Road-Traffic and Overall Mortality Risks," Working Papers 2006:1, Swedish National Road & Transport Research Institute (VTI).
  11. Henrik Andersson & Petter Lundborg, 2007. "Perception of own death risk," Journal of Risk and Uncertainty, Springer, vol. 34(1), pages 67-84, February.
  12. Joan Rovira & W. Kip Viscusi & Fernando Antoñanzas & Joan Costa-i-Font & Warren Hart & Irineu Carvalho, 2000. "Smoking risks in Spain: part II - perceptions of environmental tobacco smoke externalities," LSE Research Online Documents on Economics 13318, London School of Economics and Political Science, LSE Library.
  13. Andrea M. Leiter & Gerald J. Pruckner, . "Proportionality of willingness to pay to small changes in risk - The impact of attitudinal factors in scope tests," Working Papers 2007-30, Faculty of Economics and Statistics, University of Innsbruck.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:kap:jrisku:v:15:y:1997:i:2:p:135-50. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.