Empirical evidence suggests that people’s risk-perceptions are often systematically biased. This paper develops a simple framework to analyse public policy when this is the case. Expected utility (well-being) is shown to depend on both objective and subjective risks. The latter are important...

Much psychological evidence suggests that people’s risk-perceptions are biased. This paper assumes that public policy should intrinsically be concerned with people’s expected welfare, rather than their preferences, which sometimes implies a degree of paternalism. Still, expected welfare...

Research on risk communication relates basic risk perception studies to the formulation of policies, the currently evolving legislation dealing with hazards, the key issues of public involvement, the risk and environmental management. Risk communication is a relatively new field based on a...

Research on risk communication relates basic risk perception studies to the formulation of policies, the currently evolving legislation dealing with hazards, the key issues of public involvement, the risk and environmental management. Risk communication is a relatively new field based on a...

Recent finance and real estate empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it is more consistent with investors' behaviours. Conversely, qualitative studies into the behaviours of investors, particularly real...

The purpose of this article is to show the effect of Risk Perception RP and Risk Definition RD on the Risk-Addressing Behaviour RB. To carry out this study secondary data was used from a semi-structured survey administered between February and June 2020, a period during the early stages of the...

Wir untersuchen, ob und wie Unternehmerinnen und Unternehmer den Klimawandel wahrnehmen und sich an diesen anpassen. Unsere Umfrageergebnisse legen nahe, dass die überwiegende Mehrheit der Unternehmerinnen und Unternehmer in Deutschland den Klimawandel und dessen Folgen im Blick hat....

Agriculture is a risky business that is subject to endogenous risks. Endogenous risks caused by input utilization, input affordability and input availability may prove detrimental to the production potential of farmers. The study was aimed at examining the risk perception, risk aversion and risk...