Will you get robbed this year? How would you rate your chances?
Over 10 years, from 1994 to 2004, the national Survey of Economic Expectations asked respondents to do just that. People estimated their risks for a whole host of bad-news life events — robbery, burglary, job loss and losing their health insurance. But the survey didn’t just ask respondents to rate their chances: It also asked whether those things had actually happened to them in the last year.
And that combination of questions revealed something important about American fear: We are terrible at estimating our risk of crime — much worse than we are at guessing the danger of other bad things. Across that decade, respondents put their chance of being robbed in the coming year at about 15 percent. Looking back, the actual rate of robbery was 1.2 percent. In contrast, when asked to rate their risk of upcoming job loss, people guessed it was about 14.5 percent — much closer to the actual job loss rate of 12.9 percent.
