Information Presentation in Decision and Risk Analysis: Answered, Partly Answered, and Unanswered Questions

Information Presentation in Decision and Risk Analysis: Answered, Partly Answered, and Unanswered Questions

For the last 30 years, researchers in risk analysis, decision analysis, and economics have consistently proven that decisionmakers employ different processes for evaluating and combining anticipated and actual losses, gains, delays, and surprises. Although rational models generally prescribe a consi...

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Bibliographic Details
Published in:Risk analysis Vol. 37; no. 6; pp. 1132 - 1145
Main Authors: Keller, L. Robin, Wang, Yitong
Format: Journal Article
Language:English
Published: United States 01-06-2017
Subjects:
Decisions
information presentation
message design
risk analysis
risk perception
utility theory
Decisions
message design
information presentation
risk analysis
risk perception
utility theory
Online Access:Get full text
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Summary:For the last 30 years, researchers in risk analysis, decision analysis, and economics have consistently proven that decisionmakers employ different processes for evaluating and combining anticipated and actual losses, gains, delays, and surprises. Although rational models generally prescribe a consistent response, people's heuristic processes will sometimes lead them to be inconsistent in the way they respond to information presented in theoretically equivalent ways. We point out several promising future research directions by listing and detailing a series of answered, partly answered, and unanswered questions.
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ISSN:0272-4332
1539-6924
DOI:10.1111/risa.12697