| dc.description.abstract | In the aftermath of the Covid-19 pandemic, several researchers have accentuated the influence of risk and uncertainty on human behaviour. With perspective to the rippling effects of Covid-19 pandemic, it is the objective of this thesis using a broader set of examples of risk behaviours, to reflect how risk science through its fundamental concepts, principles, theories can explain the individual and societal behaviours in the face of risk and uncertainty.
Overall, the discussion identifies the risk characteristics of the selected examples, and using risk science concepts and theories analyses how individual and societal behaviours could be explained. In the case of vaccination against covid-19 virus, the overall implementations of government policies were grounded on precautionary principle, hence the earlier interpretation of a new vaccine against Covid-19 pandemic being an expression of cautionary behaviour in society, however, when analysed through the anti-precautionary principle, the use of a new vaccine to remedy covid-19 pandemic is an expression of both risk seeking and cautionary behaviours. The study of the case illustrates the overlap of societal values of protection – save lives, and development – find a medication, full reopening of socioeconomic activities. In the case of use of football helmet in American football relative to rugby, we observe that the interaction of social processes and risk over time leads to positive secondary effects as evidenced with innovation in helmets, social advocacy and institutional accountability. In the case of rocket launch sequence, the flight readiness protocols are an exemplification of five principles of high reliability organizations, but also note that human resource is core to the enhancement of safety and performance under uncertainty. In the case for diversification of portfolios, the nature of the increasingly globalized and industrialized society renders it vulnerable to systemic risks as seen with Covid-19 pandemic whose rippling effect could potentially disrupt the financial markets. As such diversification across different sectors may offer respite to market forces. In the case of venture capital financing, the secondary aspects of risk such as familiarity, voluntariness and experience inform the decision making under uncertainty. With participation in extreme sports, the potentially catastrophic consequences and voluntariness to the hazard influence the interaction with risk, but also inform risk avoidance strategies.
In conclusion, the review and study of the examples of risk behaviours in which the society express cautionary thinking, risk seeking behaviour and mix of both, we find that society’s experience and interaction with risk often carries auxiliary effects. For example, in some examples, familiarity and voluntariness with risk are associated with risk seeking behaviours, and because of the interaction with the risk, the society is incentivised to reduce uncertainties or mitigate the consequences of the hazard, thus resulting in innovation. Further, we realize that while government policies upon which the vaccination program were based were justified using the precautionary principle, the relatively new idea of anti-precautionary principle may very well explain the government policy. | |
