People predominantly assess risk intuitively, or by their feelings. In day-to-day life, most people judge the risk quickly and make decisions based on those immediate appraisals. We normally do not look at risk analytically. When fear is involved, we tend to see the risk as high, most likely because there is uncertainty and perceived lack of personal control. When anger is involved, we see a certain risk as lower because we feel more certain and believe we have control.
Citations: Slovic, Paul (2016). Understanding perceived risk: 1978–2015. Environment: Science and Policy for Sustainable Development. 58(1), 25–29. doi:10.1080/00139157.2016.1112169
Tversky, A., & Kahneman, D. (1974). Judgment under uncertainty: heuristics and biases. Science. 185(4157), 1124–1131. doi:10.1126/science.185.4157.1124