Characterizing Perceived Risk

Paul Slovic · Baruch Fischhoff · Sarah Lichtenstein

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Risk Perception and Management Decision-Making and Behavioral Economics Risk and Safety Analysis

Abstract

In this chapter, we report on three psychometric scaling studies, summarized in Table 1. In each study, participants rated a given set of hazards on a range of risk characteristics and indicated the degree of risk reduction and regulation they desired. Based on this data, we explore the relationships among risk characteristics and a smaller number of dimensions (factors) derived from them. We also relate risk characteristics to people's perception of risk and their desire for risk reduction and regulation. Our work builds on and extends earlier studies with a smaller number of hazards and risk characteristics (Fischhoff et al., 1978).

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1998A Quantitative Test of the Cultural Theory of Risk Perceptions: Comparison with the Psychometric Paradigm 1984Behavioral decision theory perspectives on risk and safety 1986The Psychometric Study of Risk Perception 1993Demographic Influences on Risk Perceptions 1999The Songlines of Risk 2000Cross-Cultural Risk Perception 2001Differences in Expert and Lay Judgments of Risk: Myth or Reality?2002Information Processing and Risk Perception: An Adaptation of the Heuristic-Systematic Model

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