Decision Making: Psychological Perspective

Gianni Brighetti, Cristina Ottaviani, Valeria Nucifora and Rosita Borlimi

Chapter 5 in Risk Tolerance in Financial Decision Making, 2011, pp 133-152 from Palgrave Macmillan

Abstract: Abstract In general, risk perception is the subjective judgement that people make about the characteristics and severity of a risk. In physiology, perception is a detectable change in the internal or external environment. But what is risk? The concept is highly complex. There are many definitions of risk, which vary by specific application and situational context. Fear is a clear example of what we think about risk in terms of our intuitive feelings. In all the definitions, the emphasis is on the negative nature of the consequences. Risk is any situation where negative or adverse outcomes cannot be ruled out. Neither do we know that they will happen, nor can we guarantee that they won’t.

Keywords: Risk Perception; Trading Performance; Iowa Gambling Task; Psychological Perspective; Attention Deficit Hyperactivity Disorder Child (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-30382-9_6

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DOI: 10.1057/9780230303829_6

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