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A Belief-Based Account of Decision Under Uncertainty

Fox, Craig R.; Tversky, Amos - In: Management Science 44 (1998) 7, pp. 879-895

(i) judgments of probability, which are assumed to satisfy support theory; and (ii) decisions under risk, which are … assumed to satisfy prospect theory. In two experiments, subjects evaluated uncertain prospects and assessed the probability of …

Persistent link: https://www.econbiz.de/10009214756

Risk, Public Perception and Education: Quantitative and Qualitative Risk

Shubik, Martin - School of Management, Yale University - 2001

A brief survey of the development of the study of risk and probability is given together with some basic observations … on their application to insurance. This is followed with observations on the lack of appreciation of probability studies … and an elementary feeling for probability by the public at large and a suggestion that the time is ripe for a new science …

Persistent link: https://www.econbiz.de/10005369005

Submarine landslide tsunamis: how extreme and how likely?

Harbitz, Carl; Løvholt, Finn; Bungum, Hilmar - In: Natural Hazards 72 (2014) 3, pp. 1341-1374

A number of examples are presented to substantiate that submarine landslides have occurred along most continental margins and along several volcano flanks. Their properties of importance for tsunami generation (i.e. physical dimensions, acceleration, maximum velocity, mass discharge, and travel...

Persistent link: https://www.econbiz.de/10010996774

Getting Risk Governance Right

Huertas, Thomas - In: Journal of Financial Perspectives 1 (2013) 1, pp. 75-83

. Finally, the bank has to ensure that its three lines of defense (management, risk management and compliance, and internal …

Persistent link: https://www.econbiz.de/10010840136

Compliance with veterinary prescriptions: The role of physical and social risk revisited

Maille, Virginie; Hoffmann, Jonas - In: Journal of Business Research 66 (2013) 1, pp. 141-144

This study replicates and extends prior research related to human health prevention programs by examining why pet owners comply with therapeutic prescriptions issued by their veterinarian. Empirical data demonstrates that overall, people comply according to physical, but above all, social risk....

Persistent link: https://www.econbiz.de/10010603350

A Method for Scenario-based Risk Assessment for Robust Aerospace Systems

Thomas, Victoria Katherine - 2007

A methodology for the conceptual design phase risk assessment of an aerospace system was proposed. The method was designed to examine political, social, and economic risk over a systems lifecycle through the use of future scenarios to bound uncertainty. A decision support framework was developed...

Persistent link: https://www.econbiz.de/10009475961

Preferences for 'life-saving' programmes: Small for all or gambling for the prize?

Gyrd-Hansen, D; Kristiansen, IS - 2008

Persistent link: https://www.econbiz.de/10009448801

Ambiguity seeking as a result of the status quo bias

Roca, Mercè; Hogarth, Robin; Maule, A. - In: Journal of Risk and Uncertainty 32 (2006) 3, pp. 175-194

Several factors affect attitudes toward ambiguity. What happens, however, when people are asked to exchange an ambiguous alternative in their possession for an unambiguous one? We present three experiments in which individuals preferred to retain the former. This status quo bias emerged both...

Persistent link: https://www.econbiz.de/10005542715

Risk Taking and Information Aggregation in Groups

Bougheas, Spiros; Nieboerr, Jeroen; Sefton, Martin - Centre for Decision Research and Experimental Economics … - 2014

We report an experiment examining risk taking and information aggregation in groups. Group members come to the table with an individual preference for a choice under risk, based on privately received information, and can share this information with fellow group members. They then make a decision...

Persistent link: https://www.econbiz.de/10011154553

Shared losses reduce sensitivity to risk: A laboratory study of moral hazard

Bixter, Michael T.; Luhmann, Christian C. - In: Journal of Economic Psychology 42 (2014) C, pp. 63-73

Moral hazards are said to occur when one party makes decisions that have potential negative consequences that will either be fully or partially experienced by another party. The present experiment sought to explore moral hazard in a laboratory setting. Participants made choices between certain...

Persistent link: https://www.econbiz.de/10010785247