Abstract:The project granted by National Natural Science Foundation of China (General Program No.70671099), entitled "How has the lowprobability/highconsequence event (dread risk) influenced Chinese risky decision making?"was started in January 2007 and completed in December 2009. The project was appraised as the Excellent Program by the Management Science Department of National Natural Science Foundation of China in 2012. The proposal for the project, its research content and progress, especially creative and important findings are introduced in this paper.