Km. Kuhn et Dv. Budescu, THE RELATIVE IMPORTANCE OF PROBABILITIES, OUTCOMES, AND VAGUENESS IN HAZARD RISK-DECISIONS, Organizational behavior and human decision processes, 68(3), 1996, pp. 301-317
Citations number
45
Categorie Soggetti
Psychology, Applied",Management,"Psychology, Social
This study investigated the joint effects of vagueness on both the pro
bability and the outcome dimensions of hazard risk, using both pairwis
e choice and rating response tasks. Seventy-two subjects evaluated ris
k stimuli (concerning either environmental or health hazards), which v
aried in the level of probability of loss, the amount of loss, and the
precision with which each dimension was specified. We found strong ev
idence of a consistent individual attitude toward vagueness on both ri
sk dimensions and an almost equal number of vagueness-seeking and prec
ision-seeking subjects. Choices were consistent with a decision rule b
ased on dimension preference, but attitude toward vagueness significan
tly predicted choice in cases where a dimension preference rule was no
t appropriate. An asymmetric preference reversal pattern was also demo
nstrated, with many subjects choosing an option in a pair that they ra
ted as more risky. (C) 1996 Academic Press.