Social Position and Decision Making Involving Risk

THIS PAPER ATTEMPTS TO SHOW HOW A PERSONS SOCIAL POSITION MAY SIGNIFICANTLY INFLUENCE HIS PREFERENCE TOWARD RISK, AND TO POINT OUT THE VALUE THAT A SOCIOLOGICAL PERSPECTIVE MIGHT HAVE IN DEVELOPING THEORIES OF DECISION-MAKING INVOLVING RISK. THE FINDINGS PRESENTED HERE HAVE AT LEAST TWO MAJOR IMPLICATIONS IN DEVELOPING THEORIES OF DECISION-MAKING INVOLVING RISK. 1. A PERSONS POSITION IN SOCIETY MAY GREATLY INFLUENCE HIS INTERPRETATION OF THE DESIRABILITY OF ALTERNATIVES. 2. A PERSONS SOCIAL POSITION MAY GREATLY EFFECT HIS PERCEPTION OF THE UNCERTAINTY OF ACTUALLY ATTAINING THE DESIRABLE OUTCOME. THE FINDINGS PRESENTED IN THIS PAPER SUGGEST THAT, IF WE ARE TO HAVE THEORIES APPLICABLE TO ALL MEMBERS OF SOCIETY, THEN THE INFLUENCE OF SOCIAL POSITION MUST BE ACCOUNTED FOR BY THE THEORIES.