We present experimental evidence that supports the thesis :602–625, 2015, Br J Philos Sci 70:77–102, 2019; Bradley in Decisions theory with a human face, Cambridge University Press, Cambridge, 2017; Goldschmidt and Nissan-Rozen in Synthese 198:7553–7575, 2021) that people might positively or negatively desire risky prospects conditional on only some of the prospects’ outcomes obtaining. We argue that this evidence has important normative implications for the central debate in normative decision theory between two general approaches on how to rationalize several common (...) patterns of preference, which are ruled out as irrational by orthodox decision theory, namely the re-individuation approach and the non-expected utility approach. (shrink)

A philosophical account of risk, such as this book provides, states what risk is, which attitudes to it are rational, and which acts affecting risks are rational. Attention to the nature of risk reveals two types of risk, first, a chance of a bad event, and, second, an act’s risk in the sense of the volatility of its possible outcomes. The distinction is normatively significant because different general principles of rationality govern attitudes to (...) these two types of risk. Rationality strictly regulates attitudes to the chance of a bad event and is more permissive about attitudes to an act’s risk. Principles of rationality governing attitudes to risk also justify evaluating an act according to its expected utility given that the act’s risk, if any, belongs to every possible outcome of the act. For a rational ideal agent, the expected utilities of the acts available in a decision problem explain the agent’s preferences among the acts. Maximizing expected utility is just following preferences among the acts. This view takes an act’s expected utility, not just as a feature of a representation of preferences among acts, but also as a factor in the explanation of preferences among acts. The view extends to evaluations of combination of acts, either simultaneous or in a sequence. It takes account of an agent’s attitudes to an act’s risk without weakening the standard of expected-utility maximization. The book’s theory of risk also grounds a justification of the risk-return evaluation of investments that finance advances, and a generalized version of this type of evaluation that a professional may use to advise clients about risks and that a government regulatory agency may use to make decisions about risks on behalf of the public. (shrink)

Prior research has investigated the influence of decision maker characteristics on decision choice. This research examines the effect two personality traits of taxpayers, attitude towards risk and ethical standards, on intentional noncompliance. A taxpayer who is more (less) ethical will have lower (greater) intentional noncompliance, while a taxpayer who is more (less) risk averse will have lower (greater) intentional noncompliance. However, this study also found significant correlation between risk attitudes and ethical standards. This is because tax (...) evasion is not just a gamble which can be explained by merely considering the risk variable. To understand tax evasive behavior better requires incorporation of noneconomic factors in the analysis, such as ethical standards, although risk attitudes may be an important explanatory factor. The current research suggests that individuals with lower ethical standards will have more intentional noncompliance. However, since ethical standards are correlated with attitude toward risk, the Internal Revenue Service (IRS) can partially overcome the influence of ethics by making the tax audit environment more uncertain. Thus, the research results justify the decision of the IRS not to release all its audit parameters because it makes the audit environment less uncertain. (shrink)

How should we choose on behalf of people with different attitudes to risk? Simon Blessenohl has recently argued that this question poses a dilemma: it seems that sometimes we must choose either acts that everyone disprefers or else acts that are sure to turn out worse than some other act. In this article, I offer a complaints-centered account of how to take people’s attitudes to risk into consideration in our decision-making, and then I show that it (...) provides a way out of Blessenohl’s dilemma. (shrink)

Makin argues that doctors1 should defer to each patient’s attitude to risk, over and above standard, utility-based and outcome-focussed medical decision-making models, in selecting treatment options for that patient.1 Although Makin articulates the problem as a dilemma of whether ‘to give the treatment or to withhold it’, it can be assumed that his question is whether the doctor should offer a certain treatment; because both the General Medical Council and law require doctors to engage patients in shared decision-making (SDM) (...) and to obtain consent before ‘giving’ any treatment. Yet, Makin is correct in asserting that doctors ‘make choices on behalf of their patients on a daily basis’ insofar that doctors do have to make certain a priori decisions. SDM requires a starting point—a range of clinically appropriate or reasonable options—on which patients and doctors can collaboratively deliberate in order to reach a treatment decision; and the doctor has to set out this starting point.2 Thus, Makin’s reductive claim is that doctors should take each patient’s risk attitude into account in setting out the starting points for SDM. In this commentary, I will explore UK case law in response to Makin’s proposal; because, ultimately, doctors have to work within the legal framework. Makin relies on the bioethical principles of respect …. (shrink)

Developers are often the engine behind the creation and implementation of new technologies, including in the artificial intelligence surge that is currently underway. In many cases these new technologies introduce significant risk to affected stakeholders; risks that can be reduced and mitigated by such a dominant party. This is fully recognized by texts that analyze risks in the current AI transformation, which suggest voluntary adoption of ethical standards and imposing ethical standards via regulation and oversight as tools to compel (...) developers to reduce such risks. However, what these texts usually sidestep is the question of how aware developers are to the risks they are creating with these new AI technologies, and what their attitudes are towards such risks. This paper asks to rectify this gap in research, by analyzing an ongoing case study. Focusing on six Israeli AI startups in the field of radiology, I carry out a content analysis of their online material in order to examine these companies’ stances towards the potential threat their automated tools pose to patient safety and to the work-standing of healthcare professionals. Results show that these developers are aware of the risks their AI products pose, but tend to deny their own role in the technological transformation and dismiss or downplay the risks to stakeholders. I conclude by tying these findings back to current risk-reduction recommendations with regards to advanced AI technologies, and suggest which of them hold more promise in light of developers’ attitudes. (shrink)

Discounting is a manifestation of behavioral impulsivity, which is closely related to self-regulation processes. The decision-making process for intertemporal choices is governed by the inhibition of impulses, which can influence both risk and time-related attitudes. This paper utilizes self-reported measures of risk, impatience, and impulsivity attitudes to examine their impact on the implicit discount rate used when weighing the current purchase cost against future energy savings of appliances. It analyzes and tests the interplay between these (...) class='Hi'>attitudes using specific functional forms and causal models. The results highlight the role of risk, impatience and impulsivity on the discount rate and the biases that arise from omitting impulsive attitudes. In addition, other factors such as environmental and social preferences, attitudes, and financial constraints contribute to the implicit discount rate. (shrink)

We use the multiple price list method and a recursive expected utility theory of smooth ambiguity to separate out attitude towards risk from that towards ambiguity. Based on this separation, we investigate if there are differences in agent behaviour under uncertainty over gain amounts vis-a-vis uncertainty over loss amounts. On an aggregate level, we find that (i) subjects are risk averse over gains and risk seeking over losses, displaying a “reflection effect” and (ii) they are ambiguity neutral (...) over gains and are mildly ambiguity seeking over losses. Further analysis shows that on an individual level, and with respect to both risky and ambiguous prospects, there is limited incidence of a reflection effect where subjects are risk/ambiguity averse (seeking) in gains and seeking (averse) in losses, though this incidence is higher for ambiguous prospects. A very high proportion of such cases of reflection exhibit risk (ambiguity) aversion in gains and risk (ambiguity) seeking in losses, with the reverse effect being significantly present in the case of risk but almost absent in case of ambiguity. Our results suggest that reflection across gains and losses is not a stable individual characteristic, but depends upon whether the form of uncertainty is precise or ambiguous, since we rarely find an individual who exhibits reflection in both risky and ambiguous prospects. We also find that correlations between attitudes towards risk and ambiguity were domain dependent. (shrink)

Ramsey (1926) sketches a proposal for measuring the subjective probabilities of an agent by their observable preferences, assuming that the agent is an expected utility maximizer. I show how to extend the spirit of Ramsey's method to a strictly wider class of agents: risk-weighted expected utility maximizers (Buchak 2013). In particular, I show how we can measure the risk attitudes of an agent by their observable preferences, assuming that the agent is a risk-weighted expected utility maximizer. (...) Further, we can leverage this method to measure the subjective probabilities of a risk-weighted expected utility maximizer. (shrink)

A lively topic of debate in decision theory over recent years concerns our understanding of the different risk attitudes exhibited by decision makers. There is ample evidence that risk-averse and risk-seeking behaviours are widespread, and a growing consensus that such behaviour is rationally permissible. In the context of clinical medicine, this matter is complicated by the fact that healthcare professionals must often make choices for the benefit of their patients, but the norms of rational choice are (...) conventionally grounded in a decision maker’s own desires, beliefs and actions. The presence of both doctor and patient raises the question of whose risk attitude matters for the choice at hand and what to do when these diverge. Must doctors make risky choices when treating risk-seeking patients? Ought they to be risk averse in general when choosing on behalf of others? In this paper, I will argue that healthcare professionals ought to adopt a deferential approach, whereby it is the risk attitude of the patient that matters in medical decision making. I will show how familiar arguments for widely held anti-paternalistic views about medicine can be straightforwardly extended to include not only patients’ evaluations of possible health states, but also their attitudes to risk. However, I will also show that this deferential view needs further refinement: patients’ higher-order attitudes towards their risk attitudes must be considered in order to avoid some counterexamples and to accommodate different views about what sort of attitudes risk attitudes actually are. (shrink)

In ‘Patients, doctors and risk attitudes,’ Makins argues for ‘straightforwardly’ (Makins1 p1) extending antipaternalistic views about medical decision-making to include deferential considerations of risk attitudes that a patient might endorse. Reflecting on Makins’ important contribution to higher order attitudes in decision theory, we seek to clarify the practical applicability of his argument to specific clinical settings, namely in mental health. We argue that considering low and higher order risk preferences are not only practically difficult, (...) but also potentially ethically fraught and especially so in the provision of mental healthcare. Deferring to risk attitudes potentially mutes a more robust curiosity of patients’ preferences and desires that can promote both autonomy and beneficence but are explicitly relationally grounded. We argue that a relational understanding of autonomy is a much more robust way of thinking about the value of risk attitudes among other patient preferences, attitudes and goals. Makins rightly expounds on the challenges faced by healthcare professionals who are often required to make determinative recommendations for their patients. Providers must explain uncertain benefits in relation to uncertain risks, therefore, exploring the risk attitudes of patients, appears, prima facie, a rational, patient-centred and autonomy-promoting choice. It invariably invites discussion of Perske’s 1972 dignity of …. (shrink)

According to a common judgement, a social planner should often use a lottery to decide which of two people should receive a good. This judgement undermines one of the best-known arguments for utilitarianism, due to John C. Harsanyi, and more generally undermines axiomatic arguments for utilitarianism and similar views. In this paper we ask which combinations of views about (a) the social planner’s attitude to risk and inequality, and (b) the subjects’ attitudes to risk are consistent with (...) the aforementioned judgement. We find that the class of combinations of views that can plausibly accommodate this judgement is quite limited. But one theory does better than others: the theory of chance-sensitive utility. (shrink)

Boredom has dominated discussions about longevity thanks to Bernard Williams’s influential “The Makropulos Case.” I reveal the presence in that paper of a neglected, additional problem for the long-lived person, namely alienation in the face of unwanted change. Williams gestures towards this problem but does not pursue it. I flesh it out on his behalf, connecting it to what I call the ‘curmudgeonly attitude to change.’ This attitude manifests itself in the tendency, amongst those getting on in years, to observe (...) that things are getting worse. Curmudgeonliness is typically met with dismissal because it often concerns changes that don’t radically inhibit the curmudgeon’s well-being or autonomy. I believe that taking the curmudgeonly attitude more seriously will provide insight into the longer-lived self and its relation to the future. Using Williams’s approach to longevity as the framework, I contend that—as with boredom—a sense of alienation born of curmudgeonliness can become terminal for the subject, rendering her unable to envision the future as a site of worthwhile activity. However, I also uncover ways in which this agential stasis is significantly distinct from boredom and constitutes a different worry and a different risk for the long-lived individual. (shrink)

Several different Bayesian models of epistemic utilities (see, e. g., [37], [24], [40], [46]) have been used to explain why it is rational for scientists to perform experiments. In this paper, I argue that a model-suggested independently by Patrick Maher [40] and Graham Oddie [46]-that assigns epistemic utility to degrees of belief in hypotheses provides the most comprehensive explanation. This is because this proper scoring rule (PSR) model captures a wider range of scientifically acceptable attitudes toward epistemic risk (...) than the other Bayesian models that have been proposed. I also argue, however, that even the PSR model places unreasonably tight restrictions on a scientist's attitude toward epistemic risk. As a result, such Bayesian models of epistemic utilities fail as normative accounts-not just as descriptive accounts (see, e. g., [31], [14])-of scientific inquiry. (shrink)

How should we choose on behalf of groups of agents who violate expected utility theory by being risk averse or risk seeking? Unfortunately, we sometimes have to choose either acts that everyone disprefers or acts that are sure to turn out worse than another act. This observation is particularly troubling for risk-expected utility theorists: neither option sits comfortably with their view.

We evaluate the consistency of different constructs affecting risk attitude in individuals’ decisions across different levels of risk. Specifically, we contrast views suggesting that risk attitude is a single primitive construct with those suggesting it consists of multiple latent components. Additionally, we evaluate such constructs as sensitivity to losses, diminishing sensitivity to increases in payoff, sensitivity to variance, and risk acceptance (the willingness to accept probable outcomes over certainty). In search of trait-like constructs, the paper reviews (...) experimental results focusing on the consistency of these constructs in different tasks as well as their temporal consistency. Overall, the findings show that the most consistent factor is risk acceptance, and they also demonstrate its potential boundaries. These results are modeled with a simple quantitative index of subjective risk. A survey of decisions under risk further reveals that participants exhibit almost no consistency across different tasks in this setting, highlighting the advantage of experiential tasks for studying individual differences. (shrink)

In his paper, ‘Patients, doctors and risk attitudes,’ Nicholas Makins1 argues that healthcare professionals should defer to a patient’s higher-order risk attitudes (ie, the risk attitudes they desire to have or endorse within themselves upon reflection) when making medical decisions. We argue against Makins’ deference to higher-order risk attitudes on the basis that (1) there are significant practical concerns regarding our ability to easily and consistently access and verify the higher-order risk (...) attitudes of patients, (2) there is a lack of a theoretical limit on higher-order risk attitudes (eg, second, third, fourth order), and (3) the consideration of higher-order risk attitudes is actually more paternalistic than Makins suggests because it narrows what counts as an autonomous preference to the limited occasions in which an individual actually reflects on his or her own risk attitude. On the issue of practicality, we can reasonably expect that healthcare professionals would find difficulty eliciting the higher-order risk attitudes of their patients. Take for example the patient who has never expressed his higher-order desire to be more risk adverse and who is not willing nor comfortable expressing this desire. What is the healthcare professional expected to do in this situation? This is even more of a concern for the incapacitated patient, to which Makins seems to imply that …. (shrink)

Nicholas Makins makes a valuable contribution to the literature on medical decision-making, highlighting the role that risk attitudes play in deliberation and subsequently arguing that, in medical choices under uncertainty, if considerations of autonomy and beneficence support deference to patient values and outcome preferences then they also support deference to patients’ attitudes to risk.1 Crucially, however, Makins suggests that it is not simply first-order risk attitudes that are the appropriate target of deference but, rather, (...) patients’ higher-order risk attitudes. In other words, Makins argues that if considerations of autonomy and beneficence support deference in medical decision-making, this deference should include the risk attitudes that individuals desire to have or reflectively endorse. This commentary draws out a morally relevant and overlooked distinction between: (1) deferring to patients’ higher-order attitudes that endorse the first-order risk attitudes they currently hold. and (2) deferring to patients’ higher-order attitudes that endorse risk attitudes that are at odds with the first-order risk attitudes they currently hold (which equates to a higher-order desire to change one’s first-order risk-attitudes). I agree with Makins that if respect for autonomy and beneficence support deference to patient preferences, then these considerations may also support deference to at least some higher-order risk attitudes, namely, those of type (1). But I think that whether they support deference to those of type (2) is less clear. In particular, it does not …. (shrink)

In this paper, I examine the decision-theoretic status of risk attitudes. I start by providing evidence showing that the risk attitude concepts do not play a major role in the axiomatic analysis of the classic models of decision-making under risk. This can be interpreted as reflecting the neutrality of these models between the possible risk attitudes. My central claim, however, is that such neutrality needs to be qualified and the axiomatic relevance of risk (...) attitudes needs to be re-evaluated accordingly. Specifically, I highlight the importance of the conditional variation and the strengthening of risk attitudes, and I explain why they establish the axiomatic significance of the risk attitude concepts. I also present several questions for future research regarding the strengthening of risk attitudes. (shrink)

In this paper, we introduce the notion of ‘rupture’ from the French philosopher Michel Foucault, whose studies of discourse and governmentality have become prominent within nursing research during the last 25 years. We argue that a rupture perspective can be helpful for identifying and maintaining a critical potential within nursing research. The paper begins by introducing rupture as an inheritance from the French epistemological tradition. It then describes how rupture appears in Foucault's works, as both an overall philosophical approach and (...) as an analytic tool in his historical studies. Two examples of analytical applications of rupture are elaborated. In the first example, rupture has inspired us to make an effort to seek alternatives to mainstream conceptions of the phenomenon under study. In the second example, inspired by Foucault's work on discontinuity, we construct a framework for historical epochs in nursing history. The paper concludes by discussing the potential of the notion of rupture as a response to the methodological concerns regarding the use of Foucault‐inspired discourse analysis within nursing research. We agree with the critique of Cheek that the critical potential of discourse analysis is at risk of being undermined by research that tends to convert the approach into a fixed method. (shrink)

Background: Adolescence is a period with physical, psychological, biological, intellectual, and social changes in which there is usually little perception of risk. COVID-19 has generated constant situations of change and uncertainty worldwide. During the pandemic, the acquisition of preventive behaviors has been relevant. Various studies carried out with adults associate risk perception and the implementation of preventive behaviors with knowledge about the COVID-19 and with age, but there are not many studies with adolescents. Therefore, the objective is to (...) validate, in Spanish, the questionnaire of the knowledge, attitudes, risk perceptions, and practices of adolescents toward the pandemic, and analyze it according to sociodemographic characteristics.Method: This study was a descriptive cross-sectional study, which included adolescents between the ages of 12–18. First, a translation and a back-translation of the questionnaire were performed. The questionnaire was presented in several high schools chosen by convenience sampling and following a non-probabilistic snowball sampling. Reliability and validity analyses were then carried out and the relationships between the different sociodemographic variables were analyzed.Results: The reliability of the questionnaire is acceptable. Knowledge was higher in women, and in those with a higher level of education; and were lower in those who lived in smaller towns, as well as in those who had a member of their family receiving financial aid. In terms of attitudes and risk perceptions, younger adolescents had higher scores, and those who had a member of their family receiving financial aid, lower.Conclusion: The questionnaire is a reliable tool in the Spanish adolescent population. Knowledge was influenced by gender, place of residence, level of education, and financial aid. Attitudes and risk perceptions were influenced by age and financial aid. For practices, no predictors were found. In general, adolescents scored lower on knowledge about COVID-19, but they scored higher on COVID-19 safety practices. (shrink)

When our choice affects some other person and the outcome is unknown, it has been argued that we should defer to their risk attitude, if known, or else default to use of a risk avoidant risk function. This, in turn, has been claimed to require the use of a risk avoidant risk function when making decisions that primarily affect future people, and to decrease the desirability of efforts to prevent human extinction, owing to the significant (...) risks associated with continued human survival. I raise objections to the claim that respect for others’ risk attitudes requires risk avoidance when choosing for future generations. In particular, I argue that there is no known principle of interpersonal aggregation that yields acceptable results in variable population contexts and is consistent with a plausible ideal of respect for others’ risk attitudes in fixed population cases. GPI Working Paper No. 20-2022. (shrink)

Prominent theories of decision under risk that challenge expected utility theory model risk attitudes at least partly with transformation of probabilities. This paper shows how attributing local risk aversion to attitudes towards probabilities can produce extreme probability distortions that imply paradoxical risk aversion.

Scientific knowledge has not stabilized in the current, early, phase of research and development of nanotechnologies creating a challenge to ‘upstream’ public engagement. Nevertheless, the idea that the public should be involved in deliberative discussions and assessments of emerging technologies at this early stage is widely shared among governmental and nongovernmental stakeholders. Many forums for public debate including focus groups, and citizen juries, have thus been organized to explore public opinions on nanotechnologies in a variety of countries over the past (...) few years. In Switzerland the Centre for Technology Assessment (TA-Swiss) organized such a citizen panel in fall 2006. Drawing from an ethnographic study of this panel called ‘publifocus on nanotechnologies, health, and environment’ this paper looks at the ways members of a stakeholder group deal with the epistemic uncertainty in their deliberation of nanotechnologies. By exploring the statements of the participants in the stakeholder discussion group, this paper reconstructs the narratives that constitute the epistemic foundations of the participants’ evaluations of nanotechnologies. (shrink)

A challenge of performing research in the paediatric emergency and acute care setting is obtaining valid prospective informed consent from parents. The ethical issues are complex, and it is important to consider the perspective of participants, health care workers and researchers on research without prospective informed consent while planning this type of research. We performed a systematic review according to PRISMA guidelines, of empirical evidence relating to the process, experiences and acceptability of alternatives to prospective informed consent, in the paediatric (...) emergency or acute care setting. Major medical databases and grey sources were searched and results were screened and assessed against eligibility criteria by 2 authors, and full text articles of relevant studies obtained. Data were extracted onto data collection forms and imported into data management software for analysis. Thirteen studies were included in the review consisting of nine full text articles and four abstracts. Given the heterogeneity of the methods, results could not be quantitatively combined for meta-analysis, and qualitative results are presented in narrative form, according to themes identified from the data. Major themes include capacity of parents to provide informed consent, feasibility of informed consent, support for alternatives to informed consent, process issues, modified consent process, child death, and community consultation. Our review demonstrated that children, their families, and health care staff recognise the requirement for research without prior consent, and are generally supportive of enrolling children in such research with the provisions of limiting risk, and informing parents as soon as possible. Australian data and perspectives of children are lacking and represent important knowledge gaps. (shrink)

When our choice affects some other person and the outcome is unknown, it has been argued that we should defer to their risk attitude, if known, or else default to use of a risk‐avoidant risk function. This, in turn, has been claimed to require the use of a risk‐avoidant risk function when making decisions that primarily affect future people, and to decrease the desirability of efforts to prevent human extinction, owing to the significant risks associated (...) with continued human survival. I raise objections to the claim that respect for others' risk attitudes requires risk‐avoidance when choosing for future generations. In particular, I argue that there is no known principle of interpersonal aggregation that yields acceptable results in variable population contexts and is consistent with a plausible ideal of respect for others' risk attitudes in fixed population cases. (shrink)

There exists no completely satisfactory theory of risk attitude in current normative decision theories. Existing notions confound attitudes to pure risk with unrelated psychological factors such as strength of preference for certain outcomes, and probability weighting. In addition traditional measures of risk attitude frequently cannot be applied to non-numerical consequences, and are not psychologically intuitive. I develop Pure Risk theory which resolves these problems – it is consistent with existing normative theories, and both internalises and (...) generalises the intuitive notion of risk being related to the probability of not achieving one’s aspirations. Existing models which ignore pure risk attitudes may be misspecified, and effects hitherto modelled as loss aversion or utility curvature may be due instead to Pure Risk attitudes. (shrink)

One important strategy for dealing with error in our methods is triangulation, or the use multiple methods to investigate the same object. Current accounts of triangulation assume that its primary function is to provide a confirmatory boost to hypotheses beyond what confirmation of each method alone could produce. Yet, researchers often use multiple methods to examine new constructs about which they are uncertain. For example, social psychologists use multiple indirect measures to provide convergent evidence about implicit attitudes, but how (...) to characterize implicit attitudes is an open question. To make sense of triangulation under uncertainty about constructs, I suggest two changes: first, triangulation can serve multiple epistemic functions, including some that are non-confirmatory, and second, researchers should assess the epistemic risk in claims about evidence and the acceptance/rejection of hypotheses. (shrink)

No existing normative decision theory adequately handles risk. Expected Utility Theory is overly restrictive in prohibiting a range of reasonable preferences. And theories designed to accommodate such preferences (for example, Buchak's (2013) Risk‐Weighted Expected Utility Theory) violate the Betweenness axiom, which requires that you are indifferent to randomizing over two options between which you are already indifferent. Betweenness has been overlooked by philosophers, and we argue that it is a compelling normative constraint. Furthermore, neither Expected nor Risk‐Weighted (...) Expected Utility Theory allow for stakes‐sensitive risk‐attitudes—they require that risk matters in the same way whether you are gambling for loose change or millions of dollars. We provide a novel normative interpretation of Weighted‐Linear Utility Theory that solves all of these problems. (shrink)

We analyze the results from three different risk attitude elicitation methods. First, the broadly used test by Holt and Laury, HL, second, the lottery-panel task by Sabater-Grande and Georgantzis, SG, and third, responses to a survey question on self-assessment of general attitude towards risk. The first and the second task are implemented with real monetary incentives, while the third concerns all domains in life in general. Like in previous studies, the correlation of decisions across tasks is low and (...) usually statistically non-significant. However, when we consider only subjects whose behavior across the panels of the SG task is compatible with constant relative risk aversion, the correlation between HL and self-assessed risk attitude becomes significant. Furthermore, the correlation between HL and SG also increases for CRRA-compatible subjects, although it remains statistically non-significant. (shrink)

Prospect theory predicts a four-fold risk attitude, which means that people are risk seeking for low-probability gain and high-probability loss and risk averse for low-probability loss and high-probability gain because they overweight probability when it is low. The four-fold pattern of risk attitude has been supported by several former studies with mainstream industrialized populations but has never previously been tested in a non-industrialized society. In this work, we examined the robustness of the four-fold risk attitude (...) in the DuLong minority ethnicity in China, which is a small society with only 4,000 members that is isolated from modern civilization. We used simple lotteries for gain and loss with different probabilities to elicit the risk attitude of 37 DuLong villagers. Our results support prospect theory predictions in that DuLong people are risk seeking for low-probability gain and risk averse for low-probability loss. However, although they showed a tendency to decrease their degree of risk seeking for gain, their risk attitude did not reverse when the probability of the prospect increased to 50%. In summary, our results suggest a right-shifted weighting function in this non-industrialized small society. The deviation might be caused by the particular living situation of the DuLong people, their sensitivity to monetary payoffs, and the elicitation procedure. (shrink)

In the presence of incomplete risk attitudes, choices between noncomparable risky prospects are random. A random choice model advanced by Karni, 2021) includes the hypothesis that choices among noncomparable risky prospects are prompted by signals drawn from personal distributions. This paper introduces a scheme designed to elicit subjects’ assessments of their personal likelihoods of choices among noncomparable risky prospects and describes experiments designed to test the aforementioned hypothesis.

Nicholas Makins proposes that doctors should take a deferential attitude towards their patients’ preferences when making decisions, and this includes their risk attitudes.1 He grounds this proposal in the principles of autonomy and beneficence. Makins appears to hold autonomy as a good in and of itself, and so for him it follows that deferring to patients must also be good. He also seems to hold that the satisfaction of personal preferences inevitably leads to improved well-being, and so deferring (...) to patients’ risk attitudes upholds the principle of beneficence. Unfortunately, Makins explicitly avoids defining well-being. His account seems to ignore the possibility of an objective measure of health that could contravene patient preferences, and therefore, challenge a deferential approach. While it is true that medicine is replete with complex decisions and significant uncertainty which require value judgements to navigate, it is not true medicine is purely about satisfying preferences. Patient preferences should always guide clinical decisions, but it seems to me Makins is making the far stronger claim that a doctor should act as a substitute decision-maker of sorts, doing their best to make the decision as if they were the patient themselves. I would contend this is not a good idea, as it would clearly impact a doctor’s …. (shrink)

In order to explore whether and how Jewish teachings influence the attitudes of strictly-orthodox Jews to clinical trials, 10 strictly-orthodox Jews were purposively selected and interviewed, using a semi-structured schedule. Relevant literature was searched for similar studies and for publications covering relevant Jewish teachings. Thematic analysis was used to analyse transcribed interviews and explore relationships between attitudes and Jewish teachings identified in the review. Participants’ attitudes were influenced in a variety of ways: by Jewish teachings on the (...) over-riding importance of preserving life—the need to avoid risks affecting life and health, while taking risks to preserve life—and the religious obligation to help others, as well as by previous experience. Attitudes mirrored those in the general population, enabling many participants to reach conclusions that did not differ materially from those of the general population or research ethics committees. (shrink)

We propose a task for eliciting attitudes toward risk that is close to real-world risky decisions which typically involve gains and losses. The task consists of accepting or rejecting gambles that provide a gain with probability p\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$p$$\end{document} and a loss with probability 1-p\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$1-p$$\end{document}. We employ finite mixture models to uncover heterogeneity in risk preferences and find that behavior is heterogeneous, (...) with one half of the subjects behaving as expected utility maximizers, for the others, reference-dependent models perform better than those where subjects derive utility from final outcomes, models with sign-dependent decision weights perform better than those without, and there is no evidence for loss aversion. The procedure is sufficiently simple so that it can be easily used in field or lab experiments where risk elicitation is not the main experiment. (shrink)

This article presents the results of a survey designed to test, with economically sophisticated participants, Ellsberg’s ambiguity aversion hypothesis, and Smithson’s conflict aversion hypothesis. Based on an original sample of 78 professional actuaries (all members of the French Institute of Actuaries), this article provides empirical evidence that ambiguity (i.e. uncertainty about the probability) affect insurers’ decision on pricing insurance. It first reveals that premiums are significantly higher for risks when there is ambiguity regarding the probability of the loss. Second, it (...) shows that insurers are sensitive to sources of ambiguity. The participants indeed, charged a higher premium when ambiguity came from conflict and disagreement regarding the probability of the loss than when ambiguity came from imprecision (imprecise forecast about the probability of the loss). This research thus documents the presence of both ambiguity aversion and conflict aversion in the field of insurance, and discuses economic and psychological rationales for the observed behaviours. (shrink)

Within philosophy of action, there are three broad views about what, in addition to beliefs, answer the question of “what to do?” and so determine an agent’s motivation: desires, judgments about values/reasons, or states of the will, such as intentions. We argue that recent work in decision theory vindicates the volitionalist. “What to do?” isn’t settled by “what do I value” or “what reasons are there?” Rational motivation further requires determining how to trade off the possibility of a good outcome (...) against the possibility of a bad one—i.e., determining how much of a risk to take. The risk attitudes that embody this tradeoff seem best understood as intentions: as self-governing policies to weight desires or reasons in certain ways. That we need to settle our risk attitudes before making most decisions corroborates Bratman’s claim that self-governing policies are required for resolving impasses of evaluative and normative underdetermination. Moreover, far from being rare or confined to tie-breakings, cases that are underdetermined but for one’s risk attitudes are typical of everyday decision-making. The will is required for most rational action. (shrink)

A growing number of decision theorists have, in recent years, defended the view that rationality is permissive under risk: Different rational agents may be more or less risk-averse or risk-inclined. This can result in them making different choices under risk even if they value outcomes in exactly the same way. One pressing question that arises once we grant such permissiveness is what attitude to risk we should implement when choosing on behalf of other people. Are (...) we permitted to implement any of the rationally permissible risk attitudes, is there some specific risk attitude that is required when choosing for others, or are we required to defer to the risk attitudes of the people on whose behalf we are choosing? This article elaborates on this question, explains its wider practical and theoretical significance, provides an overview of existing answers, and explores how to go about providing a more systematic account of how to choose on behalf of others in risky contexts. (shrink)

In comparing different risk elicitation methods under the assumptions of expected utility theory, previous studies have found significant differences in the elicited risk attitudes. This paper extends this line of research to consider cumulative prospect theory by comparing risk attitudes and probability weightings determined using two elicitation methods: the method by Tanaka et al. :557–571, 2010; TCN method) and the method by Wakker and Deneffe :1131–1150, 1996; WD method). We demonstrate that the two methods reveal (...) significantly different mean values for the measured risk attitudes. Participants are classified on average as moderately risk-averse using the TCN method, whereas the same individuals are classified as nearly risk-neutral using the WD method. Moreover, we find that on average, participants overweight low probabilities and underweight high probabilities to a greater extent with the WD method than with the TCN method. Therefore, the different elicitation methods, that both consider probability weighting, can lead to different measured values of risk attitude and probability weighting. (shrink)

Spousal correlation in risk attitude is estimated using data from the German Socio-Economic Panel over the period 2004–2009. We apply the bivariate panel ordered probit model to the analysis of the simultaneous determination of the male’s and the female’s risk attitude, using the survey question about general willingness to take risk, provided on a 0–10 Likert-scale. The correlations between both the individual-specific effects of the two partners and the two within-individual errors are separately estimated, and found to (...) be +0.285 and +0.310, respectively. We consider the former to be a key parameter, since its positive sign may be interpreted in terms of positive assortative mating on risk attitude: individuals tend to form partnerships with others having a similar risk attitude. We also find evidence that this correlation increases with years of marriage, suggesting either a form of spousal socialization or a selection process in which marriage breakdown is more likely in poorly matched couples. (shrink)

We explore how risk preferences affect pro-social behavior under uncertainty. We analyze a modified dictator game in which the dictator can, by reducing her own sure payoff, increase the odds that an unknown recipient wins a lottery. We first augment a standard social preferences model with reference-dependent risk attitudes and then test the model’s predictions for the dictator’s giving behavior using a laboratory experiment. Consistent with the predictions of the model, we find that the relationship between giving (...) behavior and a giver’s loss aversion is mediated by the strength of the giver’s pro-social preferences. Among more pro-social dictators, an increase in loss aversion increases the likelihood that a dictator contributes to a recipient. (shrink)

Aim: Streamlining consent for low-risk comparative effectiveness research (CER) could facilitate research, while safeguarding patients' rights. Materials & methods: 2618 adults were randomized to one of seven consent approaches (six streamlined and one traditional) for a hypothetical, low-risk CER study. A survey measured understanding, voluntariness, and feelings of respect. Results: Participants in all arms had a high understanding of the trial and positive attitudes toward the consent interaction. Highest satisfaction was with a streamlined approach showing a video (...) before the medical appointment. Participants in streamlined were more likely to mistakenly think a signature was required. Conclusion: Streamlined consent was no less acceptable than traditional, signed consent. Streamlined and traditional approaches achieved similar levels of understanding, voluntariness and a feeling that the doctor–patient interaction was respectful. (shrink)

An anthropogenic global catastrophic risk is a human-induced risk that threatens sustained and wide-scale loss of life and damage to civilisation across the globe. In order to understand how new research on governance mechanisms for emerging technologies might assuage such risks, it is important to ask how perceptions, beliefs, and attitudes towards the governance of global catastrophic risk within the research community shape the conduct of potentially risky research. The aim of this study is to deepen (...) our understanding of emerging technology research culture as it relates to global catastrophic risks, and to shed new light on how new research governance mechanisms might be developed. We analyse in-depth interviews with leading AI and biotech researchers both from universities and the private sector. We develop new insights in terms of four salient themes. First, ‘engineering mindset’, which highlights the premium placed by many interviewees on pursuing interesting research about the physical world for its own sake. Second, ‘self-government’, which looks at how self-regulation of technological development currently occurs. Third, ‘pure incentives’, focussing on how career and other incentives shapes research. Fourth, ‘norms and persuasion’, which examines the role of moral considerations in guiding the research choices of scientists. We end by considering the implications of these findings for future research on governance of anthropogenic global catastrophic risk. (shrink)

Piracy is the greatest threat facing the global music industry today. This study explores the effects of artist adoration and the perceived risk of being caught on the attitude and intention to engage in pirating a digital song among college students. The moderating effect of cultural environment factor is also examined. Experiments using between-group factorial designs were conducted in the United States and Taiwan. The results show that perceived risk of getting caught and cultural environment are important factors (...) that can significantly affect the attitude and intention toward downloading unauthorized music. In addition, a two-way (Perceived Risk ? Culture) and a three-way interaction in the model are also observed. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Books ReceivedThe Ahmadis: Community, Gender, and Politics in a Muslim Society. By Antonio Gualtieri. Montreal and Kingston: McGill-Queen's University Press, 2004. Pp. xvi + 192. Hardcover $65.00. Paper Cdn $24.95 / U.S. $19.95.American Knees. By Shawn Wong. Seattle and London: University of Washington Press, 2005. Pp. xxi + 229. Paper $14.95.The Art of Worldly Wisdom. By Baltasar Gracian and translated by Joseph Jacobs. Mineola, NY: Dover Publications, 2005. Pp. (...) xiii + 114. Paper $5.95.Bashō's Journey: The Literary Prose of Matsuo Bashō. Translated by David Landis Barnhill. Albany: State University of New York Press, 2005. Pp. xvii + 191. Hardcover $59.50. Paper $17.95.Bringing the Gods to Mind: Mantra and Ritual in Early Indian Sacrifice. By Laurie L. Patton. Berkeley: University of California Press, 2005. Pp. xv + 289. Hardcover $49.95/£32.50.Buddhist Inclusivism: Attitudes Towards Religious Others. By Kristin Beise Kiblinger. Burlington, VT: Ashgate Publishing Company, 2005. Pp. viii + 145. Hardcover $89.95.A Chinese Ethics for the New Century: The Ch'ien Mu Lectures in History and Culture, and Other Essays on Science and Confucian Ethics. By Donald J. Munro. Hong Kong: Chinese University Press, 2005. Pp. xlv + 158. Hardcover $33.00.Chinese Theories of Reading and Writing: A Route to Hermeneutics and Open Poetics. By Ming Dong Gu. Albany: State University of New York Press, 2005. Pp. xiv + 334. Hardcover $85.00.A Dictionary of Cantonese Slang: The Language of Hong Kong Movies, Street Gangs, and City Life. By Christopher Hutton and Kingsley Bolton. Honolulu: University of Hawai'i Press, 2005. Pp. xxiv + 492. Paper $28.00.Ghazālī and the Poetics of Imagination. By Ebrahim Moosa. Chapel Hill and London: University of North Carolina Press, 2005. Pp. xiii + 349. Hardcover $59.95. Paper $22.50.Going Forth: Visions of Buddhist Vinaya. Edited by William M. Bodiford. Honolulu: University of Hawai'i Press, 2005. Pp. x + 317. Hardcover $48.00.The Harem: Inside the Grand Seraglio of the Turkish Sultans. By N. M. Penzer. Mineola, NY: Dover Publications, 2005. Pp. 277. Paper $14.95.Ideals of the East: The Spirit of Japanese Art. By Kakuzo Okakura. Mineola, NY: Dover Publications, 2005. Pp. xiv + 106. Paper $5.95. [End Page 365]An Illustrated Chinese Materia Medica. By Jing-Nuan Wu. New York: Oxford University Press, 2005. Pp. 706. Price not given.Jews and Arabs: A Concise History of Their Social and Cultural Relations. By S. D. Goitein. Mineola, NY: Dover Publications, 2005. Pp. xv + 263. Paper $12.95.The Logic of Nothingness: A Study of Nishida Kitarō. By Robert J. J. Wargo. Honolulu: University of Hawai'i Press, 2005. Pp xi + 241. Paper $25.00.The Moral and Political Thought of Mahatma Gandhi. By Raghavan N. Iyer. New Delhi: Oxford University Press, 2000. Pp. xiii + 449. Paper Rs 520.00.Nietzsche's Epic of the Soul: Thus Spoke Zarathustra. By T. K. Seung. Lanham, MD: Lexington Books, 2005. Pp. xxviii + 370. Hardcover $83.00. Paper $27.95.Of Guilds, Companies, Corporations, and Governance: A Conceptual Sketch. By Leonardo R. Silos. Makati City, Philippines: Asian Institute of Management, 2005. Pp. xvi + 238. Price not given.The Path to Rome. By Hilaire Belloc. Mineola, NY: Dover Publications, 2005. Pp. ix + 251. Paper $12.95.The Philosophy of the Bhagavadgātā : A Study based on the Evaluation of the Commentaries of Śamkara, Rāmānuja and Madhva. By S. M. Srinivasa Chari. New Delhi: Munshiram Manoharlal Publishers, 2005. Pp. xxvi + 294. Hardcover Rs 575.00.The Philosophy of Rabindranath Tagore. By Kalyan Sen Gupta. Burlington, VT: Ash-gate Publishing Company, 2005. Pp. ix + 103. Hardcover $79.95.The Pristine Dao: Metaphysics in Early Daoist Discourse. By Thomas Michael. Albany: State University of New York Press, 2005. Pp. xi + 170. Hardcover $60.00. Paper $21.95.Three Mountains and Seven Rivers: Prof. Musashi Tachikawa's Felicitation Volume. Edited by Shoun Hino and Toshihiro Wada. Delhi: Motilal Banarsidass Publishers. 2004. Pp. xx + 903. Hardcover Rs. 1800.The Unity of Mystical Traditions: The Transformation of Consciousness in Tibetan and German Mysticism. By Randall Studstill. Leiden and Boston: Brill, 2005. Pp. xii + 304. Hardcover @89/$127.00.Writing the World: On Globalization. Edited by David... (shrink)

The literature on public perceptions of, and attitudes towards, nanotechnology used in the agrifood sector is reviewed. Research into consumer perceptions and attitudes has focused on general applications of nanotechnology, rather than within the agrifood sector. Perceptions of risk and benefit associated with different applications of nanotechnology, including agrifood applications, shape consumer attitudes, and acceptance, together with ethical concerns related to environmental impact or animal welfare. Attitudes are currently moderately positive across all areas of application. (...) The occurrence of a negative or positive incident in the agri-food sector may crystallise consumer views regarding acceptance or rejection of nanotechnology products. •Acceptance of agrifood nanotechnology based on perceptions of risk, benefit and ethics.•Attitudes towards nanotechnology in general are currently moderately positive.•Occurrence of a major nanotechnology-related "event" may crystallise consumer attitude. (shrink)

The main aim of the paper is to present the results of research concerning psychological and socio-cultural risk factors for development of negative anti-health attitude toward one’s body in young Polish women. The study comprised 120 women, of 20 to 25 years of age, with similar socio-demographic status who so far in the course of their lives have not disclosed mental or somatic disturbances. The theoretical theses for the research model were the contemporary cognitive concepts, as well as socio-cultural (...) concepts. The following have been used in the study: thematic drawings, the Contour Drawing Rating Scale developed by - developed by Thompson & Gray, the Eating Disorder Inventory created by D. Garner, The Sociocultural Attitudes Towards Appearance Questionnaire 3, and questionnaire for behaviour towards the body. The results confirmed the existence of negative attitude toward one’s own body, as well as development of inclinations for compensation-generating behaviour. A group of risk factors has been identified, which may lead to the development of the above attitudes and behaviours toward one’s body in healthy women, who at the same time do not accept the image of their real bodies. (shrink)

COVID-19 pandemic-related perceived risk of infection, illness fears, acute stress, emotional anxiety, exhaustion, and fatigue, psychological trauma and depressive symptoms, and sustained psychological distress can cause smartphone addiction risk and lead to technology-related cognitive, emotional, and behavioral disorders, thus impacting psychological well-being. Behavioral addiction of smartphone users can result in anxiety symptom severity, psychiatric symptoms, and depressive stress. We carried out a quantitative literature review of the Web of Science, Scopus, and ProQuest throughout June 2022, with search terms (...) including “smartphone addiction + COVID-19” + “stress,” “anxiety,” “depression,” “psychological distress,” “screen time,” and “fear.” As we analyzed only articles published between 2020 and 2022, 288 papers met the eligibility criteria. By excluding sources with similar titles, having unclear findings or unsupported by replication, or displaying inconsistent content, we selected 64, mainly empirical, sources. We used layout algorithms and bibliometric mapping as data visualization tools. Assessing the Methodological Quality of Systematic Reviews, a systematic review and literature review software, Mixed Methods Appraisal Tool, and Systematic Review Data Repository were employed as methodological quality assessment tools. As limitations, we analyzed only articles published between 2020 and 2022 in scholarly outlets indexed in the Web of Science, Scopus, and ProQuest databases. The scope of our study also does not advance the inspection of sources covering vulnerable individuals suffering from certain diseases or specific generations. Subsequent analyses should develop on smartphone use and addiction among children and adolescents. Future research should thus investigate problematic smartphone use and addiction across generations Z and Alpha. Attention should be directed to their personality traits and psychopathological symptoms. (shrink)