Risk as Value: Combining Affect and Analysis in Risk Judgments
Author
Abstract
Suggested Citation
DOI: 10.1080/13669870500166930
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 272-292, March.
- Paul Slovic & Torbjörn Malmfors & Daniel Krewski & C. K. Mertz & Nancy Neil & Sheryl Bartlett, 1995. "Intuitive Toxicology. II. Expert and Lay Judgments of Chemical Risks in Canada," Risk Analysis, John Wiley & Sons, vol. 15(6), pages 661-675, December.
- Weber, Elke U. & Hsee, Christopher K. & Sokolowska, Joanna, 1998. "What Folklore Tells Us about Risk and Risk Taking: Cross-Cultural Comparisons of American, German, and Chinese Proverbs, , ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 75(2), pages 170-186, August.
- Payne, John W & Bettman, James R & Schkade, David A, 1999. "Measuring Constructed Preferences: Towards a Building Code," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 243-270, December.
- Calfee, John & Winston, Clifford, 1998. "The value of automobile travel time: implications for congestion policy," Journal of Public Economics, Elsevier, vol. 69(1), pages 83-102, July.
- Paul Slovic & Melissa L. Finucane & Ellen Peters & Donald G. MacGregor, 2004. "Risk as Analysis and Risk as Feelings: Some Thoughts about Affect, Reason, Risk, and Rationality," Risk Analysis, John Wiley & Sons, vol. 24(2), pages 311-322, April.
- Hsee, Christopher K., 1996. "The Evaluability Hypothesis: An Explanation for Preference Reversals between Joint and Separate Evaluations of Alternatives," Organizational Behavior and Human Decision Processes, Elsevier, vol. 67(3), pages 247-257, September.
- Cynthia J. Atman & Ann Bostrom & Baruch Fischhoff & M. Granger Morgan, 1994. "Designing Risk Communications: Completing and Correcting Mental Models of Hazardous Processes, Part I," Risk Analysis, John Wiley & Sons, vol. 14(5), pages 779-788, October.
- Loewenstein, George & Adler, Daniel, 1995. "A Bias in the Prediction of Tastes," Economic Journal, Royal Economic Society, vol. 105(431), pages 929-937, July.
- Valerie F. Reyna & Allan J. Hamilton, 2001. "The Importance of Memory in Informed Consent for Surgical Risk," Medical Decision Making, , vol. 21(2), pages 152-155, April.
- Satterfield, Terre & Slovic, Paul & Gregory, Robin, 2000. "Narrative valuation in a policy judgment context," Ecological Economics, Elsevier, vol. 34(3), pages 315-331, September.
- Kida, Thomas & Smith, James F., 1995. "The encoding and retrieval of numerical data for decision making in accounting contexts: Model development," Accounting, Organizations and Society, Elsevier, vol. 20(7-8), pages 585-610.
- Isen, Alice M. & Geva, Nehemia, 1987. "The influence of positive affect on acceptable level of risk: The person with a large canoe has a large worry," Organizational Behavior and Human Decision Processes, Elsevier, vol. 39(2), pages 145-154, April.
- Stone, Eric R. & Yates, J. Frank & Parker, Andrew M., 1994. "Risk Communication: Absolute versus Relative Expressions of Low-Probability Risks," Organizational Behavior and Human Decision Processes, Elsevier, vol. 60(3), pages 387-408, December.
- Slovic, Paul & Finucane, Melissa & Peters, Ellen & MacGregor, Donald G., 2002. "Rational actors or rational fools: implications of the affect heuristic for behavioral economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(4), pages 329-342.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Teun Terpstra, 2011. "Emotions, Trust, and Perceived Risk: Affective and Cognitive Routes to Flood Preparedness Behavior," Risk Analysis, John Wiley & Sons, vol. 31(10), pages 1658-1675, October.
- repec:cup:judgdm:v:3:y:2008:i::p:111-120 is not listed on IDEAS
- Yang, Xue & Ramezani, Ramin & Utne, Ingrid Bouwer & Mosleh, Ali & Lader, PÃ¥l Furset, 2020. "Operational limits for aquaculture operations from a risk and safety perspective," Reliability Engineering and System Safety, Elsevier, vol. 204(C).
- Sierra, Jeremy J. & Jillapalli, Ravi K. & Badrinarayanan, Vishag A., 2013. "Determinants of a lasting purchase: The case of the tattoo patron," Journal of Retailing and Consumer Services, Elsevier, vol. 20(4), pages 389-399.
- Olsen, Robert A., 2008. "Trust as risk and the foundation of investment value," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2189-2200, December.
- Robert A. Olsen, 2010. "Toward a theory of behavioral finance: implications from the natural sciences," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 2(2), pages 100-128, June.
- Sierra, Jeremy J. & Taute, Harry A. & Heiser, Robert S., 2012. "Explaining NFL fans' purchase intentions for revered and reviled teams: A dual-process perspective," Journal of Retailing and Consumer Services, Elsevier, vol. 19(3), pages 332-342.
- Yixin Chen & Xinchuan Liu, 2021. "How Do Environmental News and the Under the Dome Documentary Influence Air-Pollution Knowledge and Risk Perception Among Beijing Residents?," SAGE Open, , vol. 11(2), pages 21582440211, May.
- Soane, Emma & Dewberry, Chris & Narendran, Sunitha, 2010. "The role of perceived costs and perceived benefits in the relationship between personality and risk-related choices," LSE Research Online Documents on Economics 28353, London School of Economics and Political Science, LSE Library.
- Sverre Kjetil Rød & Carl Botan & Are Holen, 2012. "Risk communication and worried publics in an imminent rockslide and tsunami situation," Journal of Risk Research, Taylor & Francis Journals, vol. 15(6), pages 645-654, June.
- Angela Bearth & Linda Miesler & Michael Siegrist, 2017. "Consumers’ Risk Perception of Household Cleaning and Washing Products," Risk Analysis, John Wiley & Sons, vol. 37(4), pages 647-660, April.
- Verteramo Chiu, Leslie J. & Turvey, Calum G., 2015. "Perception and Action in a Conflict Zone: a Study of Rural Economy and Rural Life amidst Narcos in Northeastern Mexico," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205447, Agricultural and Applied Economics Association.
- Matt Twyman & Nigel Harvey & Clare Harries, 2008. "Trust in motives, trust in competence: Separate factors determining the effectiveness of risk communication," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 111-120, January.
- Emma Soane & Chris Dewberry & Sunitha Narendran, 2010. "The role of perceived costs and perceived benefits in the relationship between personality and risk-related choices," Journal of Risk Research, Taylor & Francis Journals, vol. 13(3), pages 303-318, April.
- Bekiros, Stelios & Jlassi, Mouna & Naoui, Kamel & Uddin, Gazi Salah, 2017. "The asymmetric relationship between returns and implied volatility: Evidence from global stock markets," Journal of Financial Stability, Elsevier, vol. 30(C), pages 156-174.
- Christoph M. Rheinberger, 2010. "Experimental Evidence Against the Paradigm of Mortality Risk Aversion," Risk Analysis, John Wiley & Sons, vol. 30(4), pages 590-604, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Rita Saleh & Angela Bearth & Michael Siegrist, 2019. "“Chemophobia” Today: Consumers’ Knowledge and Perceptions of Chemicals," Risk Analysis, John Wiley & Sons, vol. 39(12), pages 2668-2682, December.
- David Faro & Yuval Rottenstreich, 2006. "Affect, Empathy, and Regressive Mispredictions of Others' Preferences Under Risk," Management Science, INFORMS, vol. 52(4), pages 529-541, April.
- Kuhberger, Anton & Schulte-Mecklenbeck, Michael & Perner, Josef, 2002. "Framing decisions: Hypothetical and real," Organizational Behavior and Human Decision Processes, Elsevier, vol. 89(2), pages 1162-1175, November.
- Lucius Caviola & Nadira Faulmüller & Jim. A. C. Everett & Julian Savulescu & Guy Kahane, 2014. "The evaluability bias in charitable giving: Saving administration costs or saving lives?," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 9(4), pages 303-315, July.
- Angela Bearth & Marie‐Eve Cousin & Michael Siegrist, 2016. "“The Dose Makes the Poison”: Informing Consumers About the Scientific Risk Assessment of Food Additives," Risk Analysis, John Wiley & Sons, vol. 36(1), pages 130-144, January.
- repec:cup:judgdm:v:17:y:2022:i:5:p:988-1014 is not listed on IDEAS
- Diego Fernandez-Duque & Timothy Wifall, 2007. "Actor/observer asymmetry in risky decision making," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 2, pages 1-8, February.
- Thomas Kourouxous & Thomas Bauer, 2019. "Violations of dominance in decision-making," Business Research, Springer;German Academic Association for Business Research, vol. 12(1), pages 209-239, April.
- Ivan Barreda-Tarrazona & Ainhoa Jaramillo-Gutierrez & Daniel Navarro-Martinez & Gerardo Sabater-Grande, 2014. "The role of forgone opportunities in decision making under risk," Journal of Risk and Uncertainty, Springer, vol. 49(2), pages 167-188, October.
- Simonson, Itamar, 2007. "Will I Like A "Medium" Pillow? Another Look At Constructed And Inherent Preferences," Research Papers 1977r1, Stanford University, Graduate School of Business.
- (Grace) Chae, Boyoun & Yoon, Sangsuk & Baskin, Ernest & (Juliet) Zhu, Rui, 2023. "The lasting smell of temptation: Counteractive effects of indulgent food scents," Journal of Business Research, Elsevier, vol. 155(PA).
- Wells, Rachael E. & Iyengar, Sheena S., 2005. "Positive illusions of preference consistency: When remaining eluded by one's preferences yields greater subjective well-being and decision outcomes," Organizational Behavior and Human Decision Processes, Elsevier, vol. 98(1), pages 66-87, September.
- repec:jdm:journl:v:17:y:2022:i:5:p:988-1014 is not listed on IDEAS
- Meredith Frances Dobbie & Rebekah Ruth Brown, 2014. "A Framework for Understanding Risk Perception, Explored from the Perspective of the Water Practitioner," Risk Analysis, John Wiley & Sons, vol. 34(2), pages 294-308, February.
- Shu, Hui-Chu, 2010. "Investor mood and financial markets," Journal of Economic Behavior & Organization, Elsevier, vol. 76(2), pages 267-282, November.
- Van Boven, Leaf & Loewenstein, George & Dunning, David, 2003. "Mispredicting the endowment effect:: Underestimation of owners' selling prices by buyer's agents," Journal of Economic Behavior & Organization, Elsevier, vol. 51(3), pages 351-365, July.
- Slovic, Paul & Finucane, Melissa & Peters, Ellen & MacGregor, Donald G., 2002. "Rational actors or rational fools: implications of the affect heuristic for behavioral economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(4), pages 329-342.
- George Loewenstein & Ted O'Donoghue & Matthew Rabin, 2003.
"Projection Bias in Predicting Future Utility,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 118(4), pages 1209-1248.
- Loewenstein, George & O'Donoghue, Ted & Rabin, Matthew, 2000. "Projection Bias in Predicting Future Utility," Department of Economics, Working Paper Series qt5qh6142m, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- George Loewenstein & Ted O'Donoghue & Matthew Rabin, 2001. "Projection Bias in Predicting Future Utility," General Economics and Teaching 0012003, University Library of Munich, Germany.
- Loewenstein, George & O'Donoghue, Ted & Rabin, Matthew, 2002. "Projection Bias in Predicting Future Utility," Working Papers 02-11, Cornell University, Center for Analytic Economics.
- George Loewenstein, Ted O'Donoghue and Matthew Rabin., 2000. "Projection Bias in Predicting Future Utility," Economics Working Papers E00-284, University of California at Berkeley.
- Berrada, Tony & Detemple, Jérôme & Rindisbacher, Marcel, 2018. "Asset pricing with beliefs-dependent risk aversion and learning," Journal of Financial Economics, Elsevier, vol. 128(3), pages 504-534.
- Pham, Michel Tuan & Faraji-Rad, Ali & Toubia, Olivier & Lee, Leonard, 2015. "Affect as an ordinal system of utility assessment," Organizational Behavior and Human Decision Processes, Elsevier, vol. 131(C), pages 81-94.
- Stephan Dickert & Janet Kleber & Ellen Peters & Paul Slovic, 2011. "Numeracy as a precursor to pro-social behavior: The impact of numeracy and presentation format on the cognitive mechanisms underlying donation decisions," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 6(7), pages 638-650, October.
- Arnout R. H. Fischer & Aarieke E. I. De Jong & Rob De Jonge & Lynn J. Frewer & Maarten J. Nauta, 2005. "Improving Food Safety in the Domestic Environment: The Need for a Transdisciplinary Approach," Risk Analysis, John Wiley & Sons, vol. 25(3), pages 503-517, June.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:jriskr:v:9:y:2006:i:2:p:141-164. See general information about how to correct material in RePEc.
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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RJRR20 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.