Differences In Risk Perception Research Articles

Addressing Risk Challenges in a Changing Financial Environment: The Need for Greater Accountability in Financial Regulation and Risk Management

The need for continuous monitoring and regulation is particularly attributed to, and justified by, the inevitable presence of risks and uncertainty – both in terms of certain externalities and indeterminacies which are capable of being reasonably quantified and those which are not.Amongst other goals, this paper aims to address complexities and challenges faced by regulators in identifying and assessing risk, problems arising from different perceptions of risk, and solutions aimed at countering problems of risk regulation. It will approach these issues through an assessment of explanations put forward to justify the growing importance of risks, well known risk theories such as cultural theory, risk society theory and governmentality theory. “Socio cultural” explanations which relate to how risk is increasingly becoming embedded in organisations and institutions will also be considered as part of those factors attributable to why the financial environment has become transformed to the state in which it currently exists.A consideration of regulatory developments which have contributed to a change in the way financial regulation is carried out, as well as developments which have contributed to the de formalisation of rules and a corresponding “loss of certainty”, will also constitute focal points of the paper. To what extent are risks capable of being quantified? Who is able to assist with such quantification – and why has it become necessary to introduce other regulatory actors and greater measures aimed at fostering corporate governance and accountability into the regulatory process? These questions constitute some of the issues which this paper aims to address.

Secondhand Smoke (SHS) Exposures: Workplace Exposures, Related Perceptions of SHS Risk, and Reactions to Smoking in Catering Workers in Smoking and Nonsmoking Premises

Smoke-free workplace legislation often exempts certain venues. Do smoking (exempted) and nonsmoking (nonexempted) catering premises' workers in Hong Kong report different perceptions of risk from and reactions to nearby smoking as well as actual exposure to secondhand smoke (SHS)? In a cross-sectional survey of 204 nonsmoking catering workers, those from 67 premises where smoking is allowed were compared with workers from 36 nonsmoking premises in Hong Kong on measures of perceptions of risk and behavioral responses to self-reported SHS exposure, plus independent exposure assessment using urinary cotinine. Self-reported workplace SHS exposure prevalence was 57% (95% CI = 49%-65%) in premises prohibiting and 100% (95% CI = 92%-100%) in premises permitting smoking (p < .001). Workers in smoking-permitted premises perceived workplace air quality as poorer (odds ratio [OR] = 9.3, 95% CI = 4.2-20.9) with higher associated risks (OR = 3.7, 95% CI = 1.6-8.6) than workers in smoking-prohibited premises. Workers in smoking-prohibited premises were more bothered by (OR = 0.2, 95% CI = 0.1-0.5) and took more protective action to avoid SHS (OR = 0.2, 95% CI = 0.1-0.4) than workers in smoking-permitted premises. Nonwork exposure was negatively associated with being always bothered by nearby smoking (OR = 0.3, 95% CI = 0.1-0.9), discouraging nearby smoking (OR = 0.5, 95% CI = 0.2-1.1), and discouraging home smoking (OR = 0.4, 95% CI = 0.2-0.9). Urinary cotinine levels were inversely related to workers' avoidance behavior but positively related to their perceived exposure-related risks. Different workplace smoking restrictions predicted actual SHS exposure, exposure-related risk perception, and protective behaviors. Workers from smoking-permitted premises perceived greater SHS exposure-related risks but were more tolerant of these than workers in smoking-prohibited premises. This tolerance might indirectly increase both work and nonwork exposures.

Lessons learned from the 2009 influenza A(H1N1) pandemic at EU level

Lessons learned from the 2009 influenza A(H1N1) pandemic at EU level

The need for harmonizing methodologies for assessing soil threats in Europe

AbstractCentral to the EU thematic strategy for soil protection is that areas affected by soil degradation through erosion, soil organic matter (SOM) decline, compaction, salinization and landslides should be identified in a clear and consistent way. However, the current methodologies to achieve this often differ and this can result in different perceptions of risks amongst EU Member States. The aims of this paper are to: (i) assess the current status of assessment methodologies in Europe (EU27) associated with erosion, SOM decline, compaction, salinization and landslides and (ii) discuss the issues associated with harmonization of these methodologies throughout the EU27. The need for harmonization is assessed using the relative share of common elements between different methodologies. The results demonstrate that the need for harmonization in methodology is greatest for erosion and compaction and least for SOM decline and landslides. However, many of the methodologies which were investigated are still incomplete and there are significant differences in terms of: (i) understanding the threats, (ii) methods of data collection, (iii) processing and interpretation and (iv) risk perception. We propose two options for the harmonized assessment of soil threats: (i) a two‐tiered approach based on data availability and spatial scale and (ii) a combination of standardization and harmonization for each assessment methodology. Future assessments should focus on the advantages and disadvantages of these options as the current situation will result in endless discussions on differences and the merits of particular methodologies instead of taking appropriate measures to reduce or eliminate the actual threats.

Risk perception of nesting Great Blue Herons: experimental evidence of habituation

The nesting behaviour of the Great Blue Heron ( Ardea herodias L., 1758) was studied in western Canada in 1998 and 1999 to (i) investigate how individual parents assess risk when repeatedly exposed to a disturbance stimulus (an investigator) and (ii) experimentally test in the field whether any variation in their nest defense behaviour was due to experience with the disturbance stimuli or the stage of the nesting period. Heron response declined through the nesting period and the level of response varied among colonies, suggesting different perceptions of risk among groups of herons in the study. It was experimentally shown that variation in the response of herons through one nesting period was due to both behavioural habituation and the stage of the nesting period. Response was stronger in 1999 than in 1998, indicating that habituation did not hold between nesting periods. In general, habituation in herons may bode well for their potential to persist in areas with light human use. But irrespective of habituation, stimuli early in the nesting period and large or novel events may still cause herons to abandon their nests owing to the effects of the stage of the nesting period.

Grassroots mobilisations against waste disposal sites in Greece

The government of Greece has gained notoriety for its failure to implement EU environmental directives in general, and is criticised specifically for its lack of an effective plan for the safe disposal of waste. Local mobilisations against a series of planned ‘Sanitary Waste Disposal Sites’ (HETAs) in three municipalities of Attica are examined. Should such protests be classified as NIMBY (not in my backyard)? Or do they present broader claims of justice and equity? Qualitative analysis of the protesters' on-line campaign material reveals that while these mobilisations do demonstrate some NIMBY characteristics, such campaigns should rather be perceived as ad hoc mobilisations reflective of tensions of late modernity. The public's mistrust of science and concerns about democratic deficit and accountability, as well as different perceptions of risk, are prominent.

Responsive Regulation: Achieving the Right Balance between Persuasion and Penalisation

This paper not only considers the regulatory challenges faced by regulators, but also the potential of responsive regulation and particularly meta regulation to address these challenges. It explores developments which have necessitated a change from the traditional form of regulation, that is, command and control regulation to more responsive hybrids of regulation. Even though traditional regulation has its advantages, its inability to address the demands of changing business environments has resulted in the adoption of more flexible forms of regulation such as risk based regulation and responsive regulation. Whilst the potential of responsive regulation is considered, the complexities and challenges faced by the regulator in identifying and assessing risk, solutions aimed at countering problems of risk regulation, along with the problems arising from different perceptions of risk will be addressed only briefly.

Policy lessons from comparing mortality from two global forces: international terrorism and tobacco

BackgroundThe aim of this study was to compare the mortality burdens from two global impacts on mortality: international terrorism and the major cause of preventable death in developed countries – tobacco use. We also sought to examine the similarities and differences between these two causes of mortality so as to better inform the policy responses directed at prevention.MethodsData on deaths from international terrorism were obtained from a US State Department database for 1994–2003. Estimates for tobacco-attributable deaths were based on Peto et al 2003. The countries were 37 developed and East European countries.Results and discussionThe collective annualized mortality burden from tobacco was approximately 5700 times that of international terrorism. The ratio of annual tobacco to international terrorism deaths was lowest for the United States at 1700 times, followed by Russia at 12,900 times. The tobacco death burden in all these countries was equivalent to the impact of an 11 September type terrorist attack every 14 hours.Different perceptions of risk may contribute to the relative lack of a policy response to tobacco mortality, despite its relatively greater scale. The lack is also despite tobacco control having a stronger evidence base for the prevention measures used.ConclusionThis comparison highlights the way risk perception may determine different policy responses to global forces causing mortality. Nevertheless, the large mortality differential between international terrorism and tobacco use has policy implications for informing the rational use of resources to prevent premature death.

Who REALLY Wants To Be A Millionaire: Game Show Contestant Behavior Under Risk

On the popular game show Who Wants To Be A Millionaire, men appear to average higher winnings than women. This paper investigates potential reasons, including different uses of information sources (lifelines) and different perceptions of risk. We include gender-based tests of Kahneman and Tversky's prospect theory, but offer instead the counterintuitive conclusion that men are rewarded for acting slightly more cautiously than women do.

Optimal portfolio selection and dynamic benchmark tracking

This paper analyzes different approaches to portfolio selection when the requirement to portfolio performance is formulated relative to a given benchmark. For example, it may be desirable to track a market index as closely as possible. We develop several portfolio selection algorithms based on different perceptions of risk and different risk/target measures, ranging from the traditional variance to the more modern value-at-risk. In a dynamic setting we address the issue of optimal portfolio rebalancing. We develop an algorithm for determining whether or not to rebalance a given portfolio, based on transaction costs and new information about market conditions. Our approaches are tested on a set of stock data from the Oslo stock exchange.

Living Alone with Dementia

As the number of people with dementia is increasing alongside the social trend of a greater proportion of the population living on their own, this article seeks to explore a number of issues arising from these circumstances. It summarizes a qualitative study of ten people with dementia who live alone in their own homes. The views of these individuals, their families and care staff, GPs, district nurses and social workers are described and analysed, providing insights into the different perceptions of risk. The findings and discussion highlight issues relating to assessing and managing risk and problems and opportunities related to living alone with dementia. In this study no incidents of major harm were reported and daily contact with others was considerable. However, resources and support are needed to enable professionals, families and people with dementia to achieve a sense of shared negotiated responsibility for risk taking.

Patient perceptions of multiple gestations: An assessment of knowledge and risk aversion

Objective: To determine whether knowledge of the increased risk of certain pregnancy complications affects a woman's desire to achieve a multifetal gestation. Study Design: Women who attended an infertility clinic were given an interviewer-administered survey that ascertained how intensely they desired a multifetal pregnancy and how accurately they perceived the risks of multifetal complications. In addition, 5-point Likert scales were used to assess how different perceptions of risk affected the desire for gestations of different plurality. Results: Most respondents (67%) expressed the desire to conceive a twin pregnancy, although they could not accurately estimate the probability of risks associated with this type of pregnancy. Nevertheless, their desire was affected by perceptions of pregnancy-associated risk. On the basis of ordinal regression, desire for twins was more likely after in vitro fertilization (P <.01) but less likely as a woman's estimation of the risk of pregnancy complications increased (P <.05). When women were presented with scenarios of differing pregnancy-associated risk magnitudes, their desire for twin pregnancy decreased as risk magnitudes increased (median Likert score decrease from 4 to 3 to 2, P <.01). After being confronted with the actual probabilities of specified perinatal complications associated with a twin pregnancy, women were less desirous of having a twin pregnancy (median Likert score decrease from 4 to 3, P <.001) than they had originally expressed. Conclusion: Women who undergo treatment for infertility are not well aware of the risks of perinatal complications associated with multiple gestations. Moreover, these women are risk sensitive and change their desires on the basis of their perception of overall risk. (Am J Obstet Gynecol 2001;185:920-4.)

Sex and Sexual Orientation

No previous study has directly compared homosexual and heterosexual men and women's perceptions of HIV risk. In fact, empirical research focusing on homosexual women's perception of HIV risk is scarce. This paper, therefore, examines whether homosexual and heterosexual women and men (N = 60) make varied self and other (peer and non-peer) HIV risk judgments. The paper also examines the roles of motivational (health anxiety) and cognitive (HIV knowledge) factors in relation to HIV risk judgments. The results show that each group held different perceptions of risk for various “other” groups. Only homosexual men showed evidence for an optimistic bias, whereas homosexual women showed evidence of realistic perceptions. Both cognitive and motivational factors were shown to be associated with risk judgments for homosexual women and heterosexual men. Methodologically the use of Multidimensional scaling as an analytic strategy is recommended.

Accommodating perceptions of risk in performance-based building fire safety code development

Differing perceptions of risk by various stakeholders have long played a role in influencing the development of prescriptive-based building fire safety codes. As performance-based building fire safety codes are developed, differing perceptions of risk will continue to be a significant influence. In this paper, the concepts of revealed preference, risk factors, risk adjustment factors and risk conversion factors are discussed, and two methods to address risk perceptions in a performance-based building fire safety code are introduced. The first method proposes the use of risk factors to classify buildings in terms such as low, medium, and high risk. Each class of building would be assigned a risk adjustment factor. Similar to safety factors, risk adjustment factors would be applied during deterministic building fire safety design to provide an increased level of safety in buildings where the risk perceptions would mandate greater safety. The second method would be used with a probabilistic-based building fire safety design approach, and uses risk factors to develop risk conversion factors (RCFs). In the probabilistic approach, a maximum expected-risk-to-life (ERL) value would be established by the code, with appropriate RCFs being applied to adjust maximum ERL values depending on how the building's fire safety risk is perceived.

Heterosexual behaviour, risk factors and sexually transmitted infections among self-classified homosexual and bisexual men.

Our study of men presenting at a genitourinary medicine clinic shows that self-classification into homosexual or bisexual does not accurately define behaviour. We found that 8.5% of self-defined homosexual men had had heterosexual intercourse in the past year and that 26% of self-defined bisexual men had not. Overall, 19% of homosexual/bisexual men reported vaginal intercourse in the past year and a further 42% in their lifetime. Compared with heterosexual men attending our clinic, the practising bisexual men were significantly more likely to come from a white ethnic group (P < 0.003) and to use condoms invariably with regular female partners (P = 0.0001). There was no significant difference in consent for HIV testing between homosexual (43%), practising bisexual (49%) and heterosexual (42%) men despite significantly different perceptions of risk. None of the practising bisexual men was seropositive for HIV infection (P = 0.06) or for syphilis (P = 0.02), or had chlamydial infection, which was found infrequently among homosexual men in general (P = 0.00001). HIV infection found in 19.4% of the exclusively homosexual men was associated with more frequent alcohol consumption (P=0.06).

Decision making in conditions of risk and uncertainty: The response to HIV/AIDS

This paper addresses influences on decision making under conditions of risk and uncertainty and draws on empirical data from longitudinal qualitative studies of British health authority responses to HIV/AIDS. It considers a little discussed aspect of the response made to an identified hazard, the possible influence of the hazard in fundamentally changing the situation in which it occurs. This may give rise to perceptions of qualitatively different risks from those attributable to the nature of the hazard itself, which may influence decision making in unexpected ways. The paper looks first at the nature of decision making in situations of risk and uncertainty, and of people's behaviour when forced to make risky choices. In the following sections, empirical evidence about the development of services for HIV/AIDS is used to illustrate some qualitatively different perceptions of risk that have mediated decision making, and some possible consequences of these decision processes. Finally, moving from HIV/AIDS as a specific issue, the paper considers the contribution these findings may make to general understanding of the nature of decision making in situations of risk and uncertainty. It is suggested that in seeking to understand decision making under these conditions it may be fruitful to consider the nature and extent of any changes in the environment as a consequence of the focal hazard, and decision makers' perceptions of and reactions to other, qualitatively different, risks these may pose.

Influences on Ratings of Risk for Consumer Products

Previous studies have suggested many persons do not know the meanings of many terms commonly used as stand alone descriptions of hazards. Studies (Leonard &amp; Digby, 1992; Leonard &amp; Hill, 1993) have shown that the same hazard description, for example flammable, associated with different products resulted in very different perceptions of risk. The present study eliminated anchoring effects that may have resulted from using separate categories by combining 13 different products into a single set for both rating and ranking. The results were consonant with previous findings in that a low correlation between subjective impressions and physical characteristics was found. Subjects in a second study who received a demonstration of some of the products' flammability significantly changed their ratings. The discussion involved consideration of how cognitive information may be developed.

The adverse renal effects of nonsteroidal anti-inflammatory drugs: increasing problems or overrated risk.

I N the past few years the industry has provided the clinician with a host of new nonsteroidal anti-inflammatory medications which are effective in the treatment of many chronic disorders such as rheumatoid arthritis, degenerative joint disease, gout, and spondyloarthritis. Their mechanism of action is at least in part achieved by prostaglandin inhibition. The market for these drugs is large and there are estimates that over 5 million individuals are exposed daily. This figure may be conservative if one considers individuals exposed to older nonsteroidal anti-inflammatory compounds such as aspirin. The growth in the number of available drugs has been paralleled by an explosion of information regarding the critical role of prostaglandins in normal and abnormal renal function. Since there appears to be a divergence of opinion regarding the prevalence and significance of renal dysfunction associated with the use of these compounds the articles to follow have been solicited to outline what would appear to represent opposing points of view. Careful analysis of the information presented, however, should convince the reader that certain patients at risk are more likely to be encountered by nephrologists and as such account for the growing awareness of renal complications of nonsteroidal therapy. Extensive use of the compounds by rheumatologists in outpatient practice on otherwise healthy individuals, as well as a certain inevitable degree of underemphasis of adverse reactions by drug manufacturers, probably accounts for the different perceptions of risk. Dr. William L. Henrich of the University of Texas Health Science Center and Chief ot the Nephrology Section at the VA Medical Center in Dallas reviews renal prostaglandin physiology in experimental animals and man emphasizing the critical role these compounds play in situations where renal blood flow is threatened such as extracellular fluid volume depletion. cirrhosis, pre-existing renal disease, sodium restriction and congestive heart failure. Furthermore, he outlines evidence concerning the role of prostaglandins in protection from ischemic acute renal failure. He details the predisposing risk factors for development of renal dysfunction in patients receiving nonsteroidal anti-inflammatory drugs and gives his recommendation for monitoring patients during therapy. Dr. Andrei Calin of the Department of Medicine and Division of Immunology at Stanford University and Chief of the Rheumatology Section at the Palo Alto VA highlights the paucity of reports of renal dysfunction considering the large numbers of individuals actually taking nonsteroidal drugs. He challenges the role of prostaglandin inhibition as the sole explanation of nonsteroidal drug action. He then identifies the same patient risk groups as outlined by Dr. Henrich and concludes with practical recommendations for nephrologists. Thus, we can conclude that the pharmacologic properties of nonsteroidal drugs can produce renal functional and adverse renal reactions depending on the nature of the patient population and level of awareness of the prescribing physician. With the discovery of new uses of nonsteroidal agents due to the rapidly expanding body of knowledge in prostaglandin biology and a pharmaceutical industry intensively competing for profits, the clinical nephrologist should be on the alert for nephrotoxicity from this class of drugs. Anticipation of clinical circumstances during which the use of nonsteroidal drugs may be hazardous is the responsibility of all prescribers and an educational objective towards which industry and academic nephrologists could direct their attention.