Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information

This study investigated how complexity and uncertainty, the probability of accidents, and the probability of financial trouble affected individuals’ recognition of validity of irrational risk-seeking decisions. As a result of conducting a multiple regression analysis on the validation score for irra...

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Autores principales:	Atsuo Murata, Syusuke Yoshida, Toshihisa Doi, Waldemar Karwowski
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	complexity uncertainty asymmetry of information probability of accidents probability of financial trouble cognitive bias Mathematics QA1-939
Acceso en línea:	https://doaj.org/article/4e738ecb18e34d8ebaf44abd6e42cce4
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spelling	oai:doaj.org-article:4e738ecb18e34d8ebaf44abd6e42cce42021-11-25T19:06:50ZIrrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information10.3390/sym131121112073-8994https://doaj.org/article/4e738ecb18e34d8ebaf44abd6e42cce42021-11-01T00:00:00Zhttps://www.mdpi.com/2073-8994/13/11/2111https://doaj.org/toc/2073-8994This study investigated how complexity and uncertainty, the probability of accidents, and the probability of financial trouble affected individuals’ recognition of validity of irrational risk-seeking decisions. As a result of conducting a multiple regression analysis on the validation score for irrational risk-seeking alternative obtained by a questionnaire survey, we found that the validity score for an irrational risk-seeking alternative was higher when both complexity and uncertainty were high than when both complexity and uncertainty were low, which means that high complexity and high uncertainty in the situation of decision making more readily leads to an irrational risk-seeking behavior that might trigger a major accident. Beyond complexity and uncertainty, the damage of major accident <i>α</i>, the decrease of the probability of major accidents and the increase of the probability of financial trouble (economic factor) were also found to promote the choice of irrational risk-seeking alternatives. Some implications for safety management under high complexity and uncertainty are discussed.Atsuo MurataSyusuke YoshidaToshihisa DoiWaldemar KarwowskiMDPI AGarticlecomplexityuncertaintyasymmetry of informationprobability of accidentsprobability of financial troublecognitive biasMathematicsQA1-939ENSymmetry, Vol 13, Iss 2111, p 2111 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	complexity uncertainty asymmetry of information probability of accidents probability of financial trouble cognitive bias Mathematics QA1-939
spellingShingle	complexity uncertainty asymmetry of information probability of accidents probability of financial trouble cognitive bias Mathematics QA1-939 Atsuo Murata Syusuke Yoshida Toshihisa Doi Waldemar Karwowski Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information
description	This study investigated how complexity and uncertainty, the probability of accidents, and the probability of financial trouble affected individuals’ recognition of validity of irrational risk-seeking decisions. As a result of conducting a multiple regression analysis on the validation score for irrational risk-seeking alternative obtained by a questionnaire survey, we found that the validity score for an irrational risk-seeking alternative was higher when both complexity and uncertainty were high than when both complexity and uncertainty were low, which means that high complexity and high uncertainty in the situation of decision making more readily leads to an irrational risk-seeking behavior that might trigger a major accident. Beyond complexity and uncertainty, the damage of major accident <i>α</i>, the decrease of the probability of major accidents and the increase of the probability of financial trouble (economic factor) were also found to promote the choice of irrational risk-seeking alternatives. Some implications for safety management under high complexity and uncertainty are discussed.
format	article
author	Atsuo Murata Syusuke Yoshida Toshihisa Doi Waldemar Karwowski
author_facet	Atsuo Murata Syusuke Yoshida Toshihisa Doi Waldemar Karwowski
author_sort	Atsuo Murata
title	Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information
title_short	Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information
title_full	Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information
title_fullStr	Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information
title_full_unstemmed	Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information
title_sort	irrationality of attitudes toward safety under complexity and uncertainty leading to asymmetry of information
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/4e738ecb18e34d8ebaf44abd6e42cce4
work_keys_str_mv	AT atsuomurata irrationalityofattitudestowardsafetyundercomplexityanduncertaintyleadingtoasymmetryofinformation AT syusukeyoshida irrationalityofattitudestowardsafetyundercomplexityanduncertaintyleadingtoasymmetryofinformation AT toshihisadoi irrationalityofattitudestowardsafetyundercomplexityanduncertaintyleadingtoasymmetryofinformation AT waldemarkarwowski irrationalityofattitudestowardsafetyundercomplexityanduncertaintyleadingtoasymmetryofinformation
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Irrationality of Attitudes toward Safety under Complexity and Uncertainty Leading to Asymmetry of Information

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