Reducing Risk in Information Search Activities

Abstract

This chapter proposes that the initial perceptions of uncertainty and risk relating to decision making are unlikely to be modified irrespective of the quantity or quality of the information transmitted and processed by the decision maker. It argues that initial risk perceptions and decisions are fairly robust even when confronted with contradictory information. The chapter begins by offering definitions of the key terms such as risk, uncertainty, and the components of the digital economy. The authors then provide an overview of risk assessment and associated management processes before moving onto an examination of the contribution of intelligence and information to risk resolution. A case scenario provides a practical illustration of the issues raised.