A Review of Empirical Research on Uncertainty Perception and Behavior

Abstract

We face several uncertainties everyday. Some of them are important issues affecting individual lives, daily life and properties, or social wealth. This paper reviewed empirical studies on public perception for uncertainty and decision making under uncertainty. Previous studies reviewed here focused on (i) calibration, (ii) charactaristics of expert information, and public needs and impressions of it, (iii) contingent valuation method intending to take respondents’ uncertain evaluations into account, and (iv) a relationship between competence and ambiguity preference. Although the papers were quoted from a wide range of academic fileds including cognitive psychology, behavioral economics and environmental economics and most of them are basic research, those results would be usable as research targets for our academic society members. Further research developments are desired by appropriately applying those results to each member’s interest.