Paul Slovic - there is a difference between risk as feeling and risk as analysis

Paul Slovic, one of the leading behavioralists in the field of decision-making, stated that there is a distinction between risk as a feeling and risk as an analysis. This is his way of thinking about the fast and slow thinking problem as described by Dan Kahneman. Risk, as feelings, is our natural reaction to danger, which could be called our jumpiness when faced with a risk. It can also be described as our experiential system. This is in contrast to risk analysis, which examines decisions under uncertainty as an analytical issue of measuring costs and benefits. 

While most investors will always focus on fast and slow thinking, the Slovic approach is a nice addition or contrast to what we already know about decision-making.

From Risk as Analysis and Risk as Feelings: Some Thoughts about Affect, Reason, Risk, and Rationality