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

• 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.

Subject headings

TEKNIK OCH TEKNOLOGIER  -- Samhällsbyggnadsteknik -- Husbyggnad (hsv//swe)

ENGINEERING AND TECHNOLOGY  -- Civil Engineering -- Building Technologies (hsv//eng)

SAMHÄLLSVETENSKAP  -- Annan samhällsvetenskap -- Tvärvetenskapliga studier inom samhällsvetenskap (hsv//swe)

SOCIAL SCIENCES  -- Other Social Sciences -- Social Sciences Interdisciplinary (hsv//eng)

TEKNIK OCH TEKNOLOGIER  -- Samhällsbyggnadsteknik -- Annan samhällsbyggnadsteknik (hsv//swe)

ENGINEERING AND TECHNOLOGY  -- Civil Engineering -- Other Civil Engineering (hsv//eng)

Keyword

Societies and institutions

Function evaluation

Decision making

Health risks

Social aspects

Risk assessment

Accident prevention

Publication and Content Type

art (subject category)

ref (subject category)