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date: 30 November 2021

p. 41. Risk decisionslocked

p. 41. Risk decisionslocked

  • Baruch Fischhoff
  •  and John Kadvany


Risk is all around us, and can come in any number of forms. ‘Risk decisions’ uses decision theory to turn the assessment of these risks into an exercise in practical reasoning. Decision theory essentially asks three questions: What decision am I facing? How well am I facing it? How could I do better? The way these questions are applied to any risk decision-making exercise depends on the social context of the situation, be that from societal attitudes or personal beliefs. It also depends on the way risk is framed by professionals, such as doctors or insurance companies.

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