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Risk preferences regarding multiple fatalities and some implications for societal risk decision making-an empirical study

Abrahamsson, Marcus LU and Tehler, Henrik LU (2006) In Journal of Risk Research 9(7). p.703-715
Abstract
Risk preferences related to accidents or other situations involving the possibility of multiple fatalities were studied in 87 persons in Sweden belonging to two separate groups with professional or educational knowledge of risk- and crisis-management issues. Use was made of a tradeoff method, the results obtained consisting of von Neuman-Morgenstern utility functions over the range of 0-1000 fatalities. Most of the utility curves for the number of fatalities were found to be convex, implying the majority of subjects to display risk-seeking behaviour. Implications of the findings for societal risk decision making are discussed, along with prospective areas of application and the possibilities of considering other dimensions than the number... (More)
Risk preferences related to accidents or other situations involving the possibility of multiple fatalities were studied in 87 persons in Sweden belonging to two separate groups with professional or educational knowledge of risk- and crisis-management issues. Use was made of a tradeoff method, the results obtained consisting of von Neuman-Morgenstern utility functions over the range of 0-1000 fatalities. Most of the utility curves for the number of fatalities were found to be convex, implying the majority of subjects to display risk-seeking behaviour. Implications of the findings for societal risk decision making are discussed, along with prospective areas of application and the possibilities of considering other dimensions than the number of fatalities. (Less)
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author
and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Societies and institutions, Function evaluation, Decision making, Health risks, Social aspects, Risk assessment, Accident prevention
in
Journal of Risk Research
volume
9
issue
7
pages
703 - 715
publisher
Routledge
external identifiers
  • wos:000242214400001
  • scopus:33750050550
ISSN
1366-9877
DOI
10.1080/13669870600799853
language
English
LU publication?
yes
id
7111c096-6278-42af-a320-5bd073fb2591 (old id 609071)
date added to LUP
2016-04-01 12:36:49
date last changed
2021-03-24 04:11:04
@article{7111c096-6278-42af-a320-5bd073fb2591,
  abstract     = {Risk preferences related to accidents or other situations involving the possibility of multiple fatalities were studied in 87 persons in Sweden belonging to two separate groups with professional or educational knowledge of risk- and crisis-management issues. Use was made of a tradeoff method, the results obtained consisting of von Neuman-Morgenstern utility functions over the range of 0-1000 fatalities. Most of the utility curves for the number of fatalities were found to be convex, implying the majority of subjects to display risk-seeking behaviour. Implications of the findings for societal risk decision making are discussed, along with prospective areas of application and the possibilities of considering other dimensions than the number of fatalities.},
  author       = {Abrahamsson, Marcus and Tehler, Henrik},
  issn         = {1366-9877},
  language     = {eng},
  number       = {7},
  pages        = {703--715},
  publisher    = {Routledge},
  series       = {Journal of Risk Research},
  title        = {Risk preferences regarding multiple fatalities and some implications for societal risk decision making-an empirical study},
  url          = {http://dx.doi.org/10.1080/13669870600799853},
  doi          = {10.1080/13669870600799853},
  volume       = {9},
  year         = {2006},
}