Title
Major accident prevention decision-making : a large-scale survey-based analysis Major accident prevention decision-making : a large-scale survey-based analysis
Author
Faculty/Department
Faculty of Applied Economics
Faculty of Law
Faculty of Social Sciences. Communication Sciences
Faculty of Social Sciences. Sociology
Faculty of Medicine and Health Sciences
Publication type
article
Publication
Amsterdam ,
Subject
Economics
Law
Mathematics
Source (journal)
Safety science. - Amsterdam, 1991, currens
Volume/pages
88(2016) , p. 242-250
ISSN
0925-7535
ISI
000379629800025
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
Decision-making under risk and uncertainty is not straightforward. This paper investigates how people make decisions when they need to choose between prevention and production investments and the decision involves risks and uncertainties that could have major negative consequences. A questionnaire was conducted among 405 students at the University of Antwerp, in Belgium. With regard to decision-making under risk, the findings reveal that the respondents behaved in a more risk-averse manner than predicted by the theory of expected values. Concerning decision-making under uncertainty, the respondents also displayed more risk-averse decision-making behaviour than anticipated, especially under circumstances of complete uncertainty. The study also shows that men are more likely to behave in a more risk-seeking manner than women are, and that people with a high intuitive thinking style are less risk-averse than people with a low intuitive thinking style. Furthermore, people with a high rational thinking style are more risk-averse than people with a low rational thinking style, and respondents with a high sensation-seeking style make decisions in a more risk-seeking way than respondents with a low sensation-seeking style.
E-info
https://repository.uantwerpen.be/docman/iruaauth/4e089d/132705.pdf
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Handle