Premium
Communicating Low Risk Magnitudes: Incidence Rates Expressed as Frequency Versus Rates Expressed as Probability
Author(s) -
Siegrist Michael
Publication year - 1997
Publication title -
risk analysis
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.972
H-Index - 130
eISSN - 1539-6924
pISSN - 0272-4332
DOI - 10.1111/j.1539-6924.1997.tb00891.x
Subject(s) - incidence (geometry) , variance (accounting) , statistics , risk communication , psychology , risk factor , actuarial science , social psychology , demography , econometrics , medicine , mathematics , economics , geometry , accounting , sociology
The study investigated the effects of incidence rates stated as a probability (e.g., 0006) and incidence rate information expressed in terms of frequency (e.g., 600 in 1,000,000) on risk‐avoidant behavior. Subjects were informed about the risks associated with an old and a new, improved medication. They were asked how much they were willing to pay for the safer medicine. Risk information was given either in a frequency or a probability format. The second factor manipulated was the level of risk, either high or low. As expected, analysis of variance yielded a significant interaction. Subjects confronted with high risk in the frequency format were willing to pay the highest prices for the improved medication. The choice between frequency or probability format can be made according to the goal of the communication of risk.