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This chapter discusses the current risk perception literature in the tourism field. The chapter critiques the literature and offers a solution through a more conceptual and operational definition of risk perceptions. Specifically, the inclusion of affective risk perceptions will be added to the literature via the risk-as-feelings hypothesis. Extension of the current literature will enhance research moving forward.

The chapter will provide a literature review, propose a conceptual model, and operationalize the risk perception variables.

The outcome of this chapter is to provide a conceptual model as a framework to address risk perception studies in tourism and hospitality in the future. The model will provide clear measurement scales to be tested.

This chapter gives a much needed theoretical and conceptual foundation to the study of risk perceptions in the travel and tourism literature.

This paper investigates the extent to which the COVID-19 pandemic has accelerated service innovation in the restaurant sector. It explores the use of digital technologies (DT) as a safety-empowerment and resilient strategy in the food-service industry during the pandemic. It also investigates the impact of DT on customers' risk perception (CRP) and customers' intention to go to restaurants (CIR) in Italy.

Based on the theory of planned behaviour and perceived risk theory, this study investigates a sample of customers residing in Italy. Multiple regression and mediation analyses are conducted to test the research hypotheses, adapting the logic model developed. Using the bootstrapping technique, this study also explores whether the pandemic has moderated the relationship among several variables adapted from the literature. Robustness tests are also performed to corroborate the analysis.

The pandemic has accelerated the food-service industry's digital transformation, forcing restauranteurs to implement DT to survive. Findings show that DT support restauranteurs in implementing innovative services that reduce interactions and empower cleanliness among workers and customers, reducing CRP and preserving CIR. Thus, managing risk perception is helping the restaurant sector to recover.

Practical implications are presented for policymakers to catalyse the digital transformation in small- and medium-sized restaurants. The results may also be beneficial for entrepreneurs who can implement innovative service practices in order to reduce interaction and empower cleanliness levels. Moreover, academics can use these results to conduct similar research in other geographical contexts.

The present research represents the first study investigating the relationship between the use of digital technologies and the intentions of customers to go out for dinner during the ongoing pandemic in Italy.

This introductory chapter synthesises an extensive and hot debate revolving around the role of precautionary doctrine in tourism fields. Although the industry faces serious risks and dangers, terrorism – just after 9/11 – situates as the most dangerous hazard and as a challenge for policymakers and practitioners. We have reviewed the pros and cons of the most important academic schools that focused on tourism security and risk perception theory. The urgency is given in creating a bridge between theory and practice in order to articulate the policies to the nature of each risk. Today risk perception theory lacks a robust methodological background that invariably led to a gridlock. Whether the demographic school advances in the multivariable correlation between class, ideology, income or education with risk perception, the sociological school lays the foundations towards a much deeper understanding of the impacts of risks in society. Rather, the radical turn – coming from a Marxist tradition – focuses on the limitations of risk perception theory. Finally, authors who form the psychological tradition, as stated in this chapter, highlight on the complexity of emotions and the inner world. All chapters in this book aim to provide fresh practical cases that reflect the socio-cultural background of the four continents.

Investor risk perception is a personalized judgement on the uncertainty of returns pertaining to a financial instrument. This study identifies key psychological and demographic factors that influence risk perception. It also unravels the complex relationship between demographic attributes and investor's risk attitude towards equity investment.

Exploratory factor analysis is used to identify factors that define investor risk perception. Multiple regression is used to assess the relationship between demographic traits and factor groups. Kruskal–Wallis test is used to ascertain whether the factors extracted differ across demographic categories. A risk perception framework based on these findings is developed to provide deeper insight.

There is evidence of the relationship and influence of demographic factors on risk propensity and behavioural bias. From this study, it is apparent that return expectation, time horizon and loss aversion, which define the risk propensity construct, vary significantly based on demographic traits. Familiarity, overconfidence, anchoring and experiential biases which define the behavioural bias construct differ across demographic categories. These factors influence the risk perception of an individual with respect to equity investments.

The reference for the framework of this study is limited as there has been no precedence of similar work in academia.

This paper establishes that information seekers make rational decisions. The paper iterates the need for portfolio managers to develop and align investment strategies after evaluation of investors' risk by including these behavioural factors, this can particularly be advantageous during extreme volatility in markets that concedes the possibility of irrational decision making.

This study highlights that regulators need to acknowledge the investor's affective, cognitive and demographic impact on equity markets and align risk control measures that are conducive to market evolution. It also creates awareness among market participants that psychological factors and behavioural biases can have an impact on investment decisions.

This is the only study that looks at a three-dimensional perspective of the investor risk perception framework. The study presents the relationship between risk propensity, behavioural bias and demographic factors in the backdrop of “information” being the mediating variable. This paper covers five characteristics of risk propensity and eight behavioural biases, such a vast coverage has not been attempted within the academic realm earlier with the aforesaid perspective.

This study evaluated risk perception as a critical factor influencing the intention to visit ethnic restaurants; in addition, the role of food safety information in reducing risk perception toward ethnic food was examined. Finally, the purpose of this paper is to investigate the influence of protection motivation on risk perception.

A survey was performed with 506 respondents. Data analyses including descriptive statistics, simple linear regression structural equational modeling and an independent t-test were conducted.

The results highlighted the negative influence of risk perception toward ethnic food consumption on the intention to visit ethnic restaurants. The results indicated that providing food safety information on menus reduces risk perception. Protection motivation theory explained consumers’ risk perception toward ethnic food. In particular, vulnerability (the chance of occurrence), self-efficacy (certainty in one’s ability to carry out a recommended preventive behavior) and response-efficacy (belief that an individual can handle a threat effectively) affected consumers’ risk perception toward ethnic food.

The results provide effective strategies for reducing risk perception, such as a provision of food safety information on the ethnic menu or an open kitchen, which produces a safer food image for consumers.

A scarcity of research has been offered to explain the predictors influencing consumers’ risk perception toward ethnic food and the methods whereby risk perception can be reduced. Thus, this study makes an important contribution to the hospitality literature by exploring risk-perception-related variables.

At least 35 years have passed since Slovic's (1987) seminal article on the ‘Perception of Risk’, wherein the conceptual foundations for understanding general risk and the psychometric properties underlying how individuals perceive risks were laid. Over the same time span, research on risk perception in the context of travel has become voluminous and recurrent. It is therefore fitting that in a modern, post-COVID age, Slovic's theory of risk perception is re-examined in the travel context, given the recent dramatic transformation of travel, the emergence of novel tourism-related risks and persistent scholarly attempts to understand travel risk theory. Using modern data mining methods and content analysis techniques, this chapter examines the stability and validity of long-standing categories and taxonomies of perceived travel risks, based on data archived in a sizeable database of scholarly studies related to travel risk (n = 17,790 studies), across an extensive 35-year period from 1990 to 2022. Findings infer two higher-order dimensions that likely underpin the taxonomic organization and relational ordering of different travel risk types and clusters. Findings also suggest a possible shift from Slovic's original theory in the way risks are perceived, at least in the travel context.

A longstanding quantitative finding from surveys of public perceptions of hazardous technologies is that women and men respondents tend to express different levels of concern when asked about environmental and technological hazards. Traditional psychometric risk perception research has provided extensive empirical descriptions of this “gender effect”, but is criticised for having less success in developing substantive theory linking observations to socio‐cultural explanations to explicate this effect. The purpose of this paper is to build a theoretical platform to account for the existing empirical findings on gender and perceptions of risk.

The paper presents a critical synthesis, drawing upon theory in contemporary risk research, gender theory, social studies of science and feminist studies of epistemology.

A theoretical platform is developed concerning the operation of gender as a regulatory process involving norms and discourse. The role is identified of moral discourses, hegemonic masculinities/gender authenticity, and epistemic subjectivities as plausible ways of understanding the gender–risk effect in risk perception.

A novel theoretical exploration is provided of the relationship between gender and risk perceptions. Conceptual development in the gender and risk arena could be further refined by applying the theoretical platform developed here to empirical analyses and, to investigate its relevance to understanding how people discuss, deliberate and reason about risk issues.

Much of the existing literature fails to offer adequately grounded theoretical explanations for the observed empirical finding on gender and risk. This paper is the first to utilise a non‐essentialist reading of the gender‐risk effect by developing the “effects made by gender” approach.

This study aims to investigate hazards in theater venues on the performance day by combining operational risk theory with a service blueprint method.

Interviews and Delphi method are applied to find the hazards, then a survey and ANOVA are followed. The study explores a profile of hazards using data from theater venues in Taiwan and examines whether employee characteristics (i.e. professional tasks, experience and working location) affect risk perception.

The study suggests a new framework represented by a 5 (types of loss events) × 6 (service systems) matrix to check operational risks. The analyses indicate two types of hazards: risk perception about performance and operations by performers and crew (RPPOPC) and audience behaviors and safety (RPABS). RPPOPC is related to the core show, but not all employees possess high RPPOPC. Seniors have relatively low RPPOPC, and frontend house employees possess insufficient RPABS. Further, front house employees, seniors and those working in municipal cities show relatively high RPPOPC in high-loss situations.

Managers can use the analytic framework to effectively identify operational risks in the core show operations and audience service offerings. They can promote risk perception considering employee differences and loss severity. However, the framework does not discuss the cause-and-effect relationship. Incorporating a large amount of loss experience into a risk information system would help clarify this complex relationship.

This study contributes to hazard mitigation in the performing arts sector, both in the peripheral services for customers and in the core show services.

The purpose of this paper is to create a taxonomy of event participants based on risk and security perceptions.

Two focus groups were established with British mothers, one with five mothers and the other with six, recruited through convenience and snowball sampling. A tree diagram was employed to uncover the taxonomic structure underlying risk and security perceptions. In creating the taxonomy, two critical issues were found to best categorise participants: the extent to which risks were considered before attending an event and whether or not participants showed an interest in knowing about security measures in advance of the event.

Six taxonomy categories were created, based on the unique combination of attitude and reactions: overthinker, investigator, naïve, ignorer, survivalist and optimiser. Similarities and differences between the types of participants were examined across 12 typical traits and reactions to risk and security.

The results provide event organisers with an understanding of whether they need to communicate their risk management strategy, and if so how they can best achieve this.

Existing taxonomies have tended to identify customer types based on risk perceptions alone. This research expands such work by considering attitudes towards both risk and security and how these affect event attendance. Hence, the descriptive taxonomy developed in the paper provides empirical evidence of the diverse risk and security perceptions at public events.

In this chapter the author highlighted the most prominent theories surrounding the cultural framework people operate in when they are involved in the risk management process, which is an important function in the governance structure of a firm. The focus was on how culture, gender differences and values affect the way people take decisions when faced with risk. The author critically examined literature carried out in the realm of sociology and psychology in organisations and discussed the effect these have on the risk management process. She discussed the effect of sociological factors on the governance of an organisation and linked this to one of the internal control processes, that is, the risk management process. It was concluded that although it is fundamental to study the human element involved in this internal control process, it is also important to be selective of the people who are made responsible for these processes, taking into account risk perception, culture, values and gender and how these factors influence the choices people make. The selection process needed to be carried out carefully, so with foresight, putting the right people in the right places would improve the risk management, an internal control process, and thus lead to better business practices.