Comparing Automobile Risk Perceptions and Insurance-Purchasing Decisions in Japan and the US. H. Hayakawa, P. S. Fischbeck, and B. Fischhoff, Department of Engineering & Public Policy, Carnegie Mellon University, Pittsburgh
Cross-national differences of risk perceptions and insurance-purchasing decisions in Japan and the United States were examined by looking at one common risk, automobile accidents. In-depth interviews with 42 Japanese subjects were conducted in the city of Kasukabe, Japan, in June and July 1997. Their responses were compared with those of 74 U.S. subjects from Western Pennsylvania. Questions for the comparison include reasons for having automobile insurance, perceived decision factors associated with collision and liability coverage, judged probabilities of accidents and being at fault, and expected monetary losses of accidents. This study found systematic differences, consistent with previous research using the "psychometric paradigm." These showed that automobile accidents were significantly more dreaded in Japan than in the U.S. Our study also investigates possible sources of these differences, including national culture, traffic safety environments, and automobile insurance market structures. Survey results are discussed in terms of the current deregulation of the Japanese insurance markets, and associated changes in risk perceptions and risk-management behavior.
Mitsui Marine and Fire Insurance Company.
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