Determinants of risk perception bias: an empirical study of economically active population of the Czech Republic
Abstract
The paper presents the results of an original survey (N=1040) that focused, among others, on perception of work-related fatal risks among economically active population of the CzechRepublic. As expected, people exposed to higher fatal work-related risks do underestimate these risks and vice versa.
Further, people who think that they know better their risk of fatal work-related injury do underestimate their risks. Fatal risks are also underestimated by people who have been working in their particular job longer.
However, people who are working longer in their profession tend, ceteris paribus, to overestimate the risk as do people with only elementary education. Influence of age on risk perception bias is not linear.
Older people generally tend to overestimate the fatal injury risk but the marginal rate of risk perception bias is not constant but rather is decreasing with age.