Risk Attitudes and Global Infrastructure Technology Choices

Abstract

Past research shows that Hofstede’s cultural dimension of uncertainty avoidance explains variance in nations’ technology choice for sanitation and electricity infrastructure construction. The uncertainty avoidance dimension describes the way that nations deal with ambiguity and uncertainty. This paper is part of a larger project that links that previous national scale research to the project level that is most relevant to the construction practice. As such, this paper reviews methods from the literature that measure individual risk attitudes, including issues of measurement and risk determinants. For example, this paper discusses paid real-stakes lotteries, general risk questions, and context specific risk questions. Respondent gender, age, and income are identified as determinants of risky behavior. The utility of these various measurement strategies is discussed with specific regard to future research intended to explain variance in the construction of distributed household renewable electricity infrastructure. Finally, a questionnaire design for future research is proposed.

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