IPUR partnered with the University of Tokyo’s Graduate School of Public Policy and Policy Alternatives Research Institute to organise the Risk Quotient 2018. The two-day conference, which took place on 25 and 26 October 2018 at the University of Tokyo, saw more than 100 attendees and international speakers from China, France, Isreal, Japan, Singapore, United Kingdom and the United States.
“Decision-making in the face of uncertainty is a complex process. it is not merely influenced by facts and figures, but how evidence is communication, and the public’s risk perceptions” – Phoon Kok Kwang, Director, IPUR
Notable speakers include Wändi Bruine de Bruin from University of Leeds, Alberto Alemanno from HEC Paris and Kiichi Fujiwara from University of Tokyo. A wide range of topics were discussed – such as psychology in decision-making, the role of governance in complex risk issues, and the use of data for policy-making.
A highlight of the conference was the talk given by Eldar Shafir from University of Princeton on the concept of decision-making under scarcity. Prof Shafir pointed out that people have a limited bandwidth of attention, and a capacity for multi-tasking. When it comes to decision-making, individuals whose minds are preoccupied by other concerns tend not to be able to focus on the decision at hand, and as a result, make poorer decisions. In this regard, it is important to be aware of the “tunnel vision” and preoccupations of individuals at any point of time, and better decisions could be facilitated simply by presenting the options at a more appropriate time.
