ECON 1 Lecture Notes - Lecture 17: Risk Perception, Risk Assessment, Parking Meter
Document Summary
Perception of risk posed by extreme events, in risk. Management strategies in an uncertain world conference, palisades, new york, april 12-13. Technological failure/ human error (e. g. chernobyl, bhopal, etc. ) Can differ between different groups of people (e. g. technical experts vs. general public, men vs. women, different cultures) Play a big role in decisions that people make, The field of risk analysis focuses on: risk assessment = involves identification, quantification, and characterisation of threats. A way to objectively quantify the subjective topic of risk: risk management = involves processes of communication, mitigation, and decision making. Further involved factors are politics, and the perception of risk. and differences can cause disagreements about which is the best course of action to take. Are related to individual and group differences in preference for risky decision alternatives". Risk as hazard ( which risks should we rank? ) Risk as probability ( what is the risk of getting aids from an infected needle? )
