same source, respondents tend to report posterior values just above the midpoint of
the range, consistent with ambiguity aversion. Interestingly, the public risk debate over
nuclear power in Taiwan did not reduce the public’s alarmist assessment of the risk (Liu
and Smith, 1990), which also is consistent with people focusing on worst-case estimates
in the presence of a risk debate.
10.4.2 Warnings Policies
A well-established form of information provision is the use of warnings policies.
Informational efforts of this type are particularly valuable for dealing with environmen-
tal risks, many of which involve lo ...
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