THE RISK MAPPING USING CLUSTER ANALYSIS WITHIN PANDEMIC CONTEXT: EMPIRICAL EVIDENCE FROM ROMANIA

Diaconu Mihaela () and Du?u Amalia Viorica
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Diaconu Mihaela: University of Pite?ti
Du?u Amalia Viorica: University of Pite?ti

Management Strategies Journal, 2022, vol. 56, issue 2, 70-78

Abstract: During the last two years the entire world faced the worst crisis in its modern history. During the recent history, different crisis hit different regions and affected different aspects of people life (economic, social, political, terrorist and public health). Moreover, the future comes along with many challenges and different potential crisis (energetic, economic, migration, food etc.). Thus, understanding the crisis dynamic and how risk exposure is connected to human behavioral shift become more and more important for market mood understanding and business strategies adoption. Thus, the present study propose was to display an individual risk perception measurement model, considering risk probability, risk consequences and risk exposure controllability. Also, risk mapping using Cluster analysis was developed using individual risk perception and individual risk aversion using empirical data collected in the first stage of the pandemic.

Keywords: crisis; individual risk perception; risk mapping; human behavior (search for similar items in EconPapers)
JEL-codes: M21 M51 O47 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:56:y:2022:i:2:p:70-78

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