A theory of risk☆
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Cited by (119)
The role of perceived risk and information security on customers' acceptance of service robots in the hotel industry
2024, International Journal of Hospitality ManagementThe normalized expected utility – entropy and variance model for decisions under risk
2022, International Journal of Approximate ReasoningCitation Excerpt :Variance was also used in other decision models. Pollatsek and Tversky [24] showed that under the assumption of a psychological theory of perceived risk, the risk of an option is expressible as a linear combination of its mean and variance. Other examples are the mean-variance model for Modern Portfolio Theory [19] or the expectation-variance-indeterminacy models [27].
The influence of perceived risk and intervention on international tourists’ behavior during the Hong Kong protest: Application of an extended model of goal-directed behavior
2020, Journal of Hospitality and Tourism ManagementCitation Excerpt :Hence, the protest has had profound negative effects to the tourism industry in Hong Kong. Risk theory suggests that risks are considered an attribute of options (e.g. gambling, course of action); in which the options are meaningfully sorted in terms of risk; and the risk of the option is associated with the dispersion or dispersion of the results (Pollatsek & Tversky, 1970). Furthermore, risk has been defined as the consumer's perceptions of the uncertainty and adverse consequences of buying a product (or service) (Dowling & Staelin, 1994).
A decision model based on expected utility, entropy and variance
2020, Applied Mathematics and ComputationCitation Excerpt :Dyer and Jia [4] presented relative risk-value models, incorporating a relative risk variable into the expected utility model, and generalized those models extending them for non-expected utility preferences, see also [3] and references therein for non-expected utility models of preferences. Measures of perceived risk have been developed satisfying empirically verified properties [5,6] (e.g. the property that perceived risk increases if there is an increase in range, variance or expected loss). The mean-variance model presented in [6] or the Markowitz mean-variance model for Modern Portfolio Theory [7,8] is one of those models.
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2015, Journal of Economic TheoryRisk Assessment of Innovation Prototype for the Example Hydraulic Cylinder
2023, Sustainability (Switzerland)
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This research was supported by PHS Training Grant GM-1231 and National Science Foundation Research Grant GB-6782.
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Now at the University of Massachusetts, Amherst, Mass. 01002