Since the first edition of The Psychology of Risk there have been enormous macro-economic and socio-political changes globally - the chaos in the world banking system and the financial crisis and recessions that it presaged; the Arab Spring and the revolutionary shifts in power in the Middle East with rippled consequences around the world; the development of ever-more sophisticated cyber-terrorism that can strike the private individual or the nation state with equal ease. Amidst these changes in the face of hazard, do the psychological models built to explain human reactions to risk still apply? Has the research over the last few years resulted in an improvement in our understanding of how people perceive and act in relation to risk? In this second edition Professor Dame Breakwell uses illustrations and current examples to address these questions and provide a totally up-to-the minute review of what is known about the psychology of risk.

This book aims to help the reader to understand what motivates people to engage in risk taking behavior, such as participating in traffic, sports, financial investments, or courtship. The consequences of risk taking may be positive, or result in accidents and injuries, especially in traffic. The wealth of studies and theories (about 1000 references) is used to offer a cohesive, holistic view of risk motivation. The risk motivation theory is a dynamic state-trait model incorporating physiological, emotional and cognitive components of risk perception, processing and planning. If a deficit exists between desired and perceived risk, risk compensation behavior results. A feedback loop provides new information for the next perception-motivation-behavior process. Assumptions were tested and support was found with 120 subjects in a longitudinal study. The concepts and findings are discussed in relation to psychological theories and their meaning for our daily lives.

This authoritative collection goes beyond economic statistics and probability data to offer a robust psychological understanding of risk perception and risk taking behavior. Expert contributors examine various risk domains in life, and pinpoint cognitive, emotional, and personality factors contributing to individual differences in risk taking as well as the many nuances social demographics (e.g., culture, gender) bring to risk decisions. Coverage takes competing theories and studies into account to identify mechanisms involved in processing and acting on uncertainty. And implications and applications are demonstrated in varied fields, from updated risk models for the insurance sector to improved risk communication in health services to considering risk perception in policy decisions. A sampling of the topics: Personality and risk: beyond daredevils—risk taking from a temperament perspective. Cognitive, developmental, and neurobiological aspects of risk judgments. The group effect: social influences on risk identification, analysis, and decision-making. Cognitive architectures as a scaffolding for risky choice models. Improving understanding of health-relevant numerical information. Risk culture as a framework for improving competence in risk management. Psychological Perspectives on Risk and Risk Analysis will be of great interest to researchers in and outside of psychology, including decision-making experts and behavioral economists. Additionally, this volume will appeal to practitioners who often have to make risky decisions, such as managers and physicians.

The psychological dimension of managing risk is of crucial importance, and its study has led to the identification of specific do's and don'ts. Those with an understanding of the psychology underlying risk and the skills to recognize its manifestation in practice, have the opportunity to develop frameworks that embody the do's and don'ts, thereby producing sound judgments and good decisions. Those lacking the understanding and the skills are destined to be more hit and miss in their approach to risk management, doing the don'ts and not doing the do's. Virtually every major risk management catastrophe in the last fifteen years has psychological pitfalls at its root. The list of catastrophes includes the 2008 bankruptcy of Lehman Brothers and subsequent global financial crisis, the 2010 explosion at BP's Macondo well in the Gulf of Mexico and the 2011 nuclear meltdown at the Fukushima Daiichi power plant. A critical lesson from psychological studies for those involved in risk management is that people's judgments and decisions about risk vary with type of circumstance. In Behavioral Risk Management readers will learn that there are specific actions that organizations can undertake to incorporate understanding, recognition, and behavioral interventions into the practice of risk management. There are many examples throughout the book that illustrate doing the don'ts. The chapters in the first part of the book introduce the main ideas, and the chapters in the latter part provide insight into how to apply those ideas to the practical world in which risk managers operate.

This second edition explores the psychology of risk, examining how individuals think, feel and act. The questions addressed include: why do companies fail to protect against obvious hazards? What biases in risk estimation are common? How should we communicate levels of risk effectively? How should we reduce risky behaviour?

This book reviews the main contemporary dimensions in the study of the psychology of risk-taking. In an introduction, the Editor J P Assailly (IFSTTAR) proposes a synthesis on the interactions between the psychological, biological and environmental perspectives on risk-taking, risk perception and risk acceptance. In the genesis of risky decision-making, the authors analyse the dynamic self-regulatory processes, their neuropsychological underpinnings (the dysfunctions of executive functions control and the somatic marker framework /hyperactivity of the limbic system, and hypoactivity of the prefrontal cortex). To treat the consequences of this neuropsychological vulnerability, the authors propose to adapt interventions as brief motivational interviews and contingency management.

Adolescence is a time when youth make decisions, both good and bad, that have consequences for the rest of their lives. Some of these decisions put them at risk of lifelong health problems, injury, or death. The Institute of Medicine held three public workshops between 2008 and 2009 to provide a venue for researchers, health care providers, and community leaders to discuss strategies to improve adolescent health.