Managing Differences in Individual Risk Perceptions: A Pilot Experiment to Integrate Individual Perceptions

  • W. Larry Petcovic
Part of the Advances in Risk Analysis book series (AIRA, volume 4)

Abstract

There are two ways of dealing with risk perception and biases: attempt conformity to logical, quantitative manners; develop an awarenesses and recognition of risk preferences and biases with the intent to team the individual results so as to balance perceptions as a group. A pilot learning experiment, using an interactive computer based program, was created with the intent to provide participants feedback concerning their cognitive style preference, risk aversion or risk seeking preference for small quantities in the 10E-4 to 10E-6 range, and to provide indirect experience with feedback on decision biases concerning availability, overconfidence, weighting, and framing. No judgments were made concerning the correctness of any input or feedback. Instead, comments were made within the context of the individual determining relevance.

Key Words

Process consultation Computer based training Heiristics and Biases Risk Perception Availability Overconfidence Framing Weighting Cognitive Style 

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References

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Copyright information

© Plenum Press, New York 1987

Authors and Affiliations

  • W. Larry Petcovic
    • 1
  1. 1.Advanced Communication TechniquesColumbiaUSA

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