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Cultural Theory is an alternative to two other prominent theories of risk perception. The first, which is grounded in rational choice theory , treats risk perceptions as manifesting individuals’ implicit weighing of costs and benefits. [ 14 ]
[23] [24] At the same time cultural theory, by asserting the orienting role of values, explains how the mechanisms featured in the psychometric paradigm can result in differences in risk perception among persons who hold different values. The interrelationship between individual values and perceptions of risk also calls into doubt the depiction ...
Factors of risk perceptions. Risk perception is the subjective judgement that people make about the characteristics and severity of a risk. [1] [2] [3] Risk perceptions often differ from statistical assessments of risk since they are affected by a wide range of affective (emotions, feelings, moods, etc.), cognitive (gravity of events, media coverage, risk-mitigating measures, etc.), contextual ...
In corporate settings, cultural values also shape risk perception. For example, in Japan, a collectivist society, organizations demonstrate extreme risk aversion, emphasizing consensus-building in decision-making to protect the group and preserve organizational reputation.
The collection contains sixteen lectures and essays, grouped in three parts: "Risk and blame" (six pieces) on the cultural theory of risk; "Wants and institutions" (five pieces) applying cultural theory to issues other than risk; and "Believing and thinking" (five pieces) on the cultural determinants of individual production of and response to ideas.
While policy analysis by institutional stakeholders typically focuses on risk-benefit analysis and cost-benefit analysis, popular risk perception is not informed by the same concerns. The successful implementation of a policy relying on public support and cooperation must address the outrage factor when informing the public about the policy.
Cultural Theory views risk perception as a collective phenomenon by which different cultures select some risks for attention and ignore others, with the aim of maintaining their particular way of life. [64] Hence risk perception varies according to the preoccupations of the culture.
The Socio-cultural looks at the “effect of group and culture level variable on risk perception”. [10] Psychometric paradigm looks at how people react emotionally to a risky situation that “affects judgments of the riskiness of physical, environmental and material risk”. [10]