Managing Differences in Individual Risk Perceptions: A Pilot Experiment to Integrate Individual Perceptions
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 WordsProcess consultation Computer based training Heiristics and Biases Risk Perception Availability Overconfidence Framing Weighting Cognitive Style
Unable to display preview. Download preview PDF.
- Briggs Meyers, Isabel and Peter Briggs Meyer, “Gifts Differing”, Consulting Psychologist Press, 1980.Google Scholar
- Douglas, Mary and Aaron Wildaysky, “Risk and Culture”, University of California Press, 1982.Google Scholar
- Kahneman, Daniel, Paul Slovic and Amos Tversky, “Judgment Under Uncertainty” Heuristics and Biases”, Cambridge University Press, 1982.Google Scholar
- Kahneman, Daniel, and Amos Tversky, “The Psychology of Preferences”, Scientific America, Vol 246, Number 1.Google Scholar
- Knowles, Malcolm, “The Adult Learner: A Neglected Species”, Guld Publishing, 1978.Google Scholar
- Moore, Peter, G. “The Business of Risk”, Cambridge University Press, 1983.Google Scholar
- Schein, Edgar H., “Process Consultation: Its Role in Organization Development”, Addison-Wesley Publishing Company, 1969.Google Scholar