Perceived risk: psychological factors and social implications

Abstract
Subjective judgements, whether by experts or lay people, are a major component in any risk assessment. If such judgements are faulty, risk management efforts are likely to be misdirected. This paper begins with an analysis of biases exhibited by lay people and experts when they make judgements about risk. Next, the similarities and differences between lay and expert evaluations are examined in the context of a specific set of hazardous activities and technologies. Finally, insights from this research are applied to the problems of informing people about risk and forecasting public response towards nuclear power.

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