REAL RISK V. PERCEIVED RISK

We are, at times, irrational and react to our perception of the risk rather than the risk itself. We are generally more accepting of risks that:

we voluntarily expose ourselves to, as opposed to those over which we have no control
are natural, as opposed to human made
are familiar, as opposed to unfamiliar
we have a good understanding of, as opposed to ‘fear of the unknown’.

WE CAN MEASURE RISK

It is possible to quantify a risk and compare it to other risks. Risk depends on exposure and effect. How likely are we to come into contact with the hazard and how much of it is required to cause harm? How much harm will it do?

We are, at times, irrational and react to our perception of the risk rather than the risk itself.