The use of expected value in pricing judgments

Lacking specific knowledge, the public perceives technical risks based on their trust in the authorities. This article explored the role of shared value in the process of trust judgment and risk perception of genetically modified (GM) foods. Study 1 showed that social trust was a mediator between shared value and risk perception. Higher value similarity between individual and spokesperson resulted in deeper trust in the institution; moreover, social trust effectively reduced public risk perception of GM foods. Study 2 demonstrated that shared value improved in the care and competence dimensions of trust. The two dimensions of trust were positively related, but only competence had a significant influence on risk perception. Implications for risk communication are discussed.