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Risk preferences regarding multiple fatalities and some implications for societal risk decision making-an empirical study

På svenska

Author

Summary, in English

Risk preferences related to accidents or other situations involving the possibility of multiple fatalities were studied in 87 persons in Sweden belonging to two separate groups with professional or educational knowledge of risk- and crisis-management issues. Use was made of a tradeoff method, the results obtained consisting of von Neuman-Morgenstern utility functions over the range of 0-1000 fatalities. Most of the utility curves for the number of fatalities were found to be convex, implying the majority of subjects to display risk-seeking behaviour. Implications of the findings for societal risk decision making are discussed, along with prospective areas of application and the possibilities of considering other dimensions than the number of fatalities.

Department/s

Publishing year

2006

Language

English

Pages

703-715

Publication/Series

Journal of Risk Research

Volume

9

Issue

7

Document type

Journal article

Publisher

Routledge

Topic

  • Building Technologies
  • Social Sciences Interdisciplinary
  • Other Civil Engineering

Keywords

  • Societies and institutions
  • Function evaluation
  • Decision making
  • Health risks
  • Social aspects
  • Risk assessment
  • Accident prevention

Status

Published

ISBN/ISSN/Other

  • ISSN: 1366-9877