In recent years a number of building managers have invested small amounts of money to measure indoor air quality in offices and other non-industrial buildings. Their objective is to reduce the number of occupant complaints, and not necessarily to reduce the risk associated with such complaints. Clearly, reduction of the risk would require greater investment of funds and effort. This paper focuses on individuals and the amount of money they are willing to invest in order to reduce risks associated with indoor air pollution in their home. Psychologists assert that lay judgement of risks are influenced by cognitive biases and attitudes. This study investigates the possibility that cognitive elements and general attitudes influence not only the perceived risk associated with exposures to indoor air pollutants, but also the willingness of individuals to invest in order to reduce the risk. A three-stage study was performed to determine some of the factors that influence public decisions to control the quality of the air inside their home. The study is focused on the design of a risk ladder, and the survey of 400 randomly selected individuals in the Chicago metropolitan area. The survey was designed to determine if demographics, smoking, education, or income influence the desire of individuals to invest in order to reduce indoor air pollution. The following conclusions were reached: (i) public awareness of indoor air pollution is high; (ii) media campaigns on indoor air pollution affect the determination of the specific pollutant the public perceives as important, but do not influence the public's desire to invest larger amounts of money to reduce risks from exposures to air pollutants in the residential environment; (iii) the public is not willing to spend large amounts of money to reduce indoor residential air pollution; (iv) education does not affect the level of awareness regarding indoor air pollution, but it increases the willingness to invest in an effort to reduce indoor air pollution; and (v) smoking status does not affect any of the above.