Risk-Risk Tradeoffs for Mass Shootings and International Terrorism

Abstract

This article elicits information about risk perceptions and risk-risk tradeoffs for mass shootings and international terrorist attacks. These prominent public risks are similar in many respects in that both involve traumatic injuries. One might expect that the risk-risk tradeoff rate would be 1.0 unless other attributes of these risks are pertinent. Estimates based on an original survey structured to test rates of tradeoff between deaths from these risks indicate that respondents consistently place a premium on reducing mass shooting risks, as compared to risks of international terrorism. The average premium is relatively stable even after accounting for the effect of differences in personal risk beliefs on policy preferences. The estimated rates of risk-risk tradeoff reflect a greater weight on mass shooting risks even for those who believe that international terrorism risks pose a greater personal threat.

Keywords: risk perception, mass shooting, terrorism, risk preferences

JEL Classification: K13, K14, K42, H41, I18