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Perceived Risk, Dread, and Benefits

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  • Robin Gregory
  • Robert Mendelsohn

Abstract

This paper uses regression techniques to take a second look at a classic risk‐perception data set originally collected by Paul Slovic, Sarah Lichtenstein, and Baruch Fischhoff. As discussed in earlier studies, the attributes expected mortality, effects on future generations, immediacy, and catastrophic potential all significantly affect risk ratings. However, we find that perceived risk and dread show different regression patterns; most importantly, only perceived risk ratings correlate with expected mortality. In addition, average risk ratings are found to be significantly affected by perceived individual benefits, which suggests that perceptions of risk are net rather than gross indicators of harm.

Suggested Citation

  • Robin Gregory & Robert Mendelsohn, 1993. "Perceived Risk, Dread, and Benefits," Risk Analysis, John Wiley & Sons, vol. 13(3), pages 259-264, June.
    • Handle: RePEc:wly:riskan:v:13:y:1993:i:3:p:259-264
    DOI: 10.1111/j.1539-6924.1993.tb01077.x
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    References listed on IDEAS

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    1. Smith, V Kerry & Johnson, F Reed, 1988. "How Do Risk Perceptions Respond to Information? The Case of Radon," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 1-8, February.
    2. Robin Gregory & Howard Kunreuther & Doug Easterling & Ken Richards, 1991. "Incentives Policies to Site Hazardous Waste Facilities," Risk Analysis, John Wiley & Sons, vol. 11(4), pages 667-675, December.
    3. L. Robin Keller & Rakesh K. Sarin, 1988. "Equity in Social Risk: Some Empirical Observations," Risk Analysis, John Wiley & Sons, vol. 8(1), pages 135-146, March.
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    2. Barbara A. Knuth & Nancy A. Connelly & Judy Sheeshka & Jacqueline Patterson, 2003. "Weighing Health Benefit and Health Risk Information when Consuming Sport‐Caught Fish," Risk Analysis, John Wiley & Sons, vol. 23(6), pages 1185-1197, December.
    3. Yang, Ya Ling, 2020. "Comparison of public perception and risk management decisions of aircraft noise near Taoyuan and Kaohsiung International Airports," Journal of Air Transport Management, Elsevier, vol. 85(C).
    4. Michel Setbon & Jocelyn Raude & Claude Fischler & Antoine Flahault, 2005. "Risk Perception of the “Mad Cow Disease” in France: Determinants and Consequences," Risk Analysis, John Wiley & Sons, vol. 25(4), pages 813-826, August.
    5. John D. Graham & John A. Rupp & Olga Schenk, 2015. "Unconventional Gas Development in the USA: Exploring the Risk Perception Issues," Risk Analysis, John Wiley & Sons, vol. 35(10), pages 1770-1788, October.
    6. Horia-Nicolai L. Teodorescu, 2015. "Defining resilience using probabilistic event trees," Environment Systems and Decisions, Springer, vol. 35(2), pages 279-290, June.
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    8. Piyapong Janmaimool & Tsunemi Watanabe, 2014. "Evaluating Determinants of Environmental Risk Perception for Risk Management in Contaminated Sites," IJERPH, MDPI, vol. 11(6), pages 1-23, June.

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