Inherent risk

About: Inherent risk is a research topic. Over the lifetime, 211 publications have been published within this topic receiving 3958 citations.

Perceived risk attitudes: relating risk perception to risky choice

Abstract: This paper provides empirical evidence that distinguishes between alternative conceptualizations of the risky decision making process. Two studies investigate whether cross-situational differences in choice behavior should be interpreted in the expected utility framework as differences in risk attitude (as measured by risk-averse vs. risk-seeking utility functions) or as differences in the perception of the relative riskiness of choice alternatives as permitted by risk-return interpretations of utility functions, leaving open the possibility of stable cross-situational risk preference as a personality trait. To this end, we propose a way of assessing a person's inherent risk preference that factors out individual and situational differences in risk perception. We document that a definition of risk aversion and risk seeking as the preference for options perceived to be more risky or less risky, respectively, provides the cross-situational stability to a person's risk preference that has eluded more traditi...

Managerial Perceptions of Supply Risk

Abstract: SUMMARY There has been a growing emphasis in business on outsourcing production activities and focusing on core competencies. The decision to outsource the production of goods and services, however, has inherent risk. The purposes of this article are to describe characteristics of inbound supply that affect managerial perceptions of supply risk and to create a classification of those supply risk sources. An analysis of case study data suggests that supply risk is perceived by the effect that purchased items and services have on corporate profitability, market factors, and supplier characteristics. By understanding the characteristics of supply risk, supply management professionals can implement strategies for better managing that risk.

How to Influence Rural Tourism Intention by Risk Knowledge during COVID-19 Containment in China: Mediating Role of Risk Perception and Attitude.

Abstract: With both cost and safety taken into account in the context of the life-threatening COVID-19 pandemic globally, rural tourism is expected to be the top choice for Chinese residents for relaxation and enhancing parent-child relationships. In this paper, a structural equation (SEM) model was proposed to compare risk knowledge, risk perception, risk aversion attitudes and behavioral intentions towards rural tourism. According to the empirical results, there was a large proportion of tourists showing preference for rural tourism recently. Potential participants in rural tourism paid most attention to the performance realization and time cost of scenic spots, while the psycho-social risk posed by COVID-19 had little impact. The inherent risk nature of risk aversion attitudes made knowledge of the pneumonia risk less effective in reducing tourists' intentions, while knowledge of the pneumonia risk was more effective in alleviating the risk perception that potential tourists have towards rural tourism. With regard to travel intention and recommendation intention of rural tourism, the negative impacts of risk aversion attitude were more considerable compared to risk perception. Meanwhile, the parallel mediating effect of risk perception and risk aversion attitude in rural tourism needed to be taken into consideration together.

Quantification of risk factors for venous thromboembolism: a preliminary study for the development of a risk assessment tool

Abstract: BACKGROUND AND OBJECTIVES: Venous thromboembolism is a frequent and serious disorder influenced by numerous factors. As the first step in creating a tool to assess an individual patient's risk of venous thromboembolism, we carried out a literature review in order to quantify risk factors for venous thromboembolism. EVIDENCE AND INFORMATION SOURCES: Risk factors were identified as being either predisposing, that is, those risks presented by a patient prior to hospital admission, or exposing, that is, those risks occurring when a patient is hospitalized for a certain medical condition or surgical procedure. Predisposing risk factors were classified with regard to the patients' characteristics (including general characteristics and inherent risk factors), and recent and chronic clinical conditions. RESULTS: The major predisposing factors among the patients' characteristics were age, hormonal therapy and personal history of venous thromboembolism, along with inherited coagulation factor abnormalities. Clinical situations associated with the highest risk of venous thromboembolism were recent surgery, hospitalization for medical conditions and immobilization, moderate to severe congestive heart failure, and malignancy. CONCLUSIONS: This literature review will assist in the development of a suitable risk assessment tool for aiding healthcare professionals to decide whether to employ thromboprophylaxis, and, if so, to select the appropriate type and duration of prophylaxis.