UID:
almafu_9959328801702883
Format:
1 online resource (viii, 240 pages) :
,
illustrations
ISBN:
9780470686539
,
0470686537
,
9780470686560
,
0470686561
,
128245661X
,
9781282456617
Series Statement:
Statistics in practice
Content:
Conception and Misconceptions about Risk looks at the fundamental issues in risk analysis and risk management, providing recommendations and guidance. This book presents the general thinking process related to the understanding of risk, and how we should describe, analyse, evaluate, manage, and communicate risk. In this book a number of important conceptions and misconceptions about risk have been identified their implications for risk analysis and risk management are discussed. The key statistical concepts are introduced and discussed thoroughly, however a minimum background in statistics, ri.
Note:
Risk is equal to the expected value -- Risk is a probability or probability distribution -- Risk equals a probability distribution quantile (value-at-risk) -- Risk equals uncertainty -- Risk is equal to an event -- Risk equals expected disutility -- Risk is restricted to the case of objective probabilities -- Risk is the same as risk perception -- Risk relates to negative consequences only -- Risk is determined by the historical data -- Risk assessments produce an objective risk picture -- There are large inherent uncertainties in risk analyses -- Model uncertainty should be quantified -- It is meaningful and useful to distinguish between stochastic and epistemic uncertainties -- Bayesian analysis is based on the use of probability models and Bayesian updating -- Sensitivity analysis is a type of uncertainty analysis -- The main objective of risk management is risk reduction -- Decision-making under uncertainty should be based on science (analysis) -- The precautionary principle and risk management cannot be meaningfully integrated -- Conclusions.
Additional Edition:
Print version: Aven, T. (Terje). Misconceptions of risk. Chichester, West Sussex, U.K. : Wiley, 2010 ISBN 9780470683880
Language:
English
Subjects:
Economics
,
Mathematics
Keywords:
Electronic books.
;
Electronic books.
;
Electronic books.
DOI:
10.1002/9780470686539
URL:
https://onlinelibrary.wiley.com/doi/book/10.1002/9780470686539
URL:
https://onlinelibrary.wiley.com/doi/book/10.1002/9780470686539
URL:
https://onlinelibrary.wiley.com/doi/book/10.1002/9780470686539
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