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The Risk Mapping Using Cluster Analysis Within Pandemic Context: Empirical Evidence From Romania

Author

Listed:
  • Diaconu Mihaela

    (University of Pite?ti)

  • Du?u Amalia Viorica

    (University of Pite?ti)

Abstract

During the last two years the entire world faced the worst crisis in its modern history. During the recent history, different crisis hit different regions and affected different aspects of people life (economic, social, political, terrorist and public health). Moreover, the future comes along with many challenges and different potential crisis (energetic, economic, migration, food etc.). Thus, understanding the crisis dynamic and how risk exposure is connected to human behavioral shift become more and more important for market mood understanding and business strategies adoption. Thus, the present study propose was to display an individual risk perception measurement model, considering risk probability, risk consequences and risk exposure controllability. Also, risk mapping using Cluster analysis was developed using individual risk perception and individual risk aversion using empirical data collected in the first stage of the pandemic.

Suggested Citation

  • Diaconu Mihaela & Du?u Amalia Viorica, 2022. "The Risk Mapping Using Cluster Analysis Within Pandemic Context: Empirical Evidence From Romania," Management Strategies Journal, Constantin Brancoveanu University, vol. 56(2), pages 70-78.
    • Handle: RePEc:brc:journl:v:56:y:2022:i:2:p:70-78
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    File URL: http://www.strategiimanageriale.ro/papers/220224.pdf
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    References listed on IDEAS

    as
    1. Sven Ove Hansson, 2010. "Risk: objective or subjective, facts or values," Journal of Risk Research, Taylor & Francis Journals, vol. 13(2), pages 231-238, March.
    2. Yongbao Zhang & Jingqi Gao & Xiaowei Luo & Xiang Wu & Haoqi Bao, 2021. "Dynamic Evolution of Public’s Positive Emotions and Risk Perception for the COVID-19 Pandemic: A Case Study of Hubei Province of China," Mathematical Problems in Engineering, Hindawi, vol. 2021, pages 1-14, March.
    3. Paul Slovic & Melissa L. Finucane & Ellen Peters & Donald G. MacGregor, 2004. "Risk as Analysis and Risk as Feelings: Some Thoughts about Affect, Reason, Risk, and Rationality," Risk Analysis, John Wiley & Sons, vol. 24(2), pages 311-322, April.
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    More about this item

    Keywords

    crisis; individual risk perception; risk mapping; human behavior;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions

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