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Updated: Jun 8, 2026

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
Published on: September 19, 2012
Risk assessment-risk perception: who shall decide?
1University of Massachusetts, Amherst.
Abstract:
Since the Chernobyl disaster, the people of the world have become concerned with environmental pollution and its effect on their health and safety. This article addresses a fundamental question arising from that concern, namely, how safe is safe enough and who should make this decision? The controversy arising from this question is between the private stakeholders and the technicians who assess risk, control information and influence public policy and both the public's perception of risk and their desire to participate directly in public policy decisions affecting their health and safety. This article proposes a solution to this controversy that is relevant to all people, since all people are stakeholders in a fair and balanced solution.
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