The psychology of human risk preferences and vulnerability to scare-mongers: experimental economic tools for hypothesis formulation and testing

Show simple item record

dc.contributor.author Harrison, Glenn W.
dc.contributor.author Ross, Don
dc.date.accessioned 2017-08-02T10:49:54Z
dc.date.available 2017-08-02T10:49:54Z
dc.date.issued 2016-10
dc.identifier.citation Harrison, G. W. and Ross, D. (2016) 'The psychology of human risk preferences and vulnerability to scare-mongers: experimental economic tools for hypothesis formulation and testing', Journal of Cognition and Culture, 16(5), pp. 383-414. doi:10.1163/15685373-12342185 en
dc.identifier.volume 16 en
dc.identifier.issued 5 en
dc.identifier.startpage 383 en
dc.identifier.endpage 414 en
dc.identifier.issn 1567-7095
dc.identifier.uri http://hdl.handle.net/10468/4416
dc.identifier.doi 10.1163/15685373-12342185
dc.description.abstract The Internet and social media have opened niches for political exploitation of human dispositions to hyper-alarmed states that amplify perceived threats relative to their objective probabilities of occurrence. Researchers should aim to observe the dynamic “ramping up” of security threat mechanisms under controlled experimental conditions. Such research necessarily begins from a clear model of standard baseline states, and should involve adding treatments to established experimental protocols developed by experimental economists. We review these protocols, which allow for joint estimation of risk preferences and subjective beliefs about probabilities and their distributions. Results we have obtained on such estimates, from populations in various countries, are gathered for comparison. Most people show moderate risk aversion in non-alarmed states. We also find universal heterogeneity in risk preference structures, with substantial sub-samples weighting probabilities in such a way as to display “probability pessimism” (rank dependent utility), while others make risky choices in accordance with expected utility theory. en
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher Brill Academic Publishers en
dc.relation.uri http://booksandjournals.brillonline.com/content/journals/10.1163/15685373-12342185
dc.rights © 2016, Brill Academic Publishers. All rights reserved. en
dc.subject Rank dependent utility en
dc.subject Heterogeneity of preference and belief structures en
dc.subject Security threats en
dc.subject Experimental economics en
dc.subject Expected utility theory en
dc.subject Human risk preferences en
dc.subject Subjective beliefs about probabilities en
dc.title The psychology of human risk preferences and vulnerability to scare-mongers: experimental economic tools for hypothesis formulation and testing en
dc.type Article (peer-reviewed) en
dc.internal.authorcontactother Don Ross, Philosophy, University College Cork, Cork, Ireland. +353-21-490-3000 Email: don.ross@ucc.ie en
dc.internal.availability Full text available en
dc.check.info Access to this article is restricted until 24 months after publication by request of the publisher. en
dc.check.date 2018-10-01
dc.date.updated 2017-08-02T10:37:22Z
dc.description.version Accepted Version en
dc.internal.rssid 405431292
dc.description.status Peer reviewed en
dc.identifier.journaltitle Journal of Cognition and Culture en
dc.internal.copyrightchecked Yes en
dc.internal.licenseacceptance Yes en
dc.internal.IRISemailaddress don.ross@ucc.ie en


Files in this item

This item appears in the following Collection(s)

Show simple item record

This website uses cookies. By using this website, you consent to the use of cookies in accordance with the UCC Privacy and Cookies Statement. For more information about cookies and how you can disable them, visit our Privacy and Cookies statement