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This research investigated the role of dispositional factors in decisions to purchase insurance and to take mitigating measures against flooding. Two dispositional factors—risk aversion in the domain of losses and time discounting rate—were found to be predictors of the decision to acquire flood insurance. The observation of a relationship between experiment‐based risk attitudes and the decision to...
Previous research has demonstrated that in naturalistic risky decisions people tend to have little interest in receiving information about probabilities. The present research asked whether subjects search for and employ probabilistic information in situations that are representative of natural disasters: namely, situations where (1) they have no control over the occurrence of a negative event and...
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