What Risks do People Perceive in Everyday Life? A Perspective Gained from the Experience Sampling Method (ESM)

32 Pages Posted: 25 Jul 2007

See all articles by Robin M. Hogarth

Robin M. Hogarth

Universitat Pompeu Fabra - Faculty of Economic and Business Sciences

Mariona Portell

University of Barcelona

Anna Cuxart

Universitat Pompeu Fabra

Date Written: January 2007

Abstract

The experiential sampling method (ESM) was used to collect data from 74 part-time students who described and assessed the risks involved in their current activities when interrupted at random moments by text messages. The major categories of perceived risk were short-term in nature and involved loss of time or materials related to work and physical damage (e.g., from transportation). Using techniques of multilevel analysis, we demonstrate effects of gender, emotional state, and types of risk on assessments of risk. Specifically, females do not differ from males in assessing the potential severity of risks but they see these as more likely to occur. Also, participants assessed risks to be lower when in more positive self-reported emotional states. We further demonstrate the potential of ESM by showing that risk assessments associated with current actions exceed those made retrospectively. We conclude by noting advantages and disadvantages of ESM for collecting data about risk perceptions.

Keywords: Experiential sampling method, risk perception, risk assessment, gender differences, multi-level analysis, simultaneous vs. retrospective judgment

JEL Classification: C39, C93, M10

Suggested Citation

Hogarth, Robin M. and Portell, Mariona and Cuxart Jardi, Anna, What Risks do People Perceive in Everyday Life? A Perspective Gained from the Experience Sampling Method (ESM) (January 2007). Available at SSRN: https://ssrn.com/abstract=1002852 or http://dx.doi.org/10.2139/ssrn.1002852

Robin M. Hogarth (Contact Author)

Universitat Pompeu Fabra - Faculty of Economic and Business Sciences ( email )

Ramon Trias Fargas 25-27
Barcelona, 08005
Spain
34 93 542 2561 (Phone)
34 93 542 1746 (Fax)

Mariona Portell

University of Barcelona ( email )

Gran Via de les Corts Catalanes, 585
Barcelona, 08007
Spain
+34 93 581 1376 (Phone)
+34 93 581 2001 (Fax)

Anna Cuxart Jardi

Universitat Pompeu Fabra ( email )

Ramon Trias Fargas 25-27
Barcelona, 08005
Spain
34-93-542-27-48 (Phone)
34-93-542-17-46 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
86
Abstract Views
1,247
rank
288,375
PlumX Metrics