Misconceptions of risk
By: Terje Aven.
Publisher: Wiley
Published: 2010
Place of publication: Hoboken, N.J
Language: eng
ISBN-13: 9780470683880
Subjects: Risk assessment -- Statistical methods; Risk management -- Statistical methods
Notes: Includes bibliographical references and index.
Table of contents: title: Risk is equal to the expected value; title: Risk is a probability or probability distribution; title: Risk equals a probability distribution quantile (value-at-risk); title: Risk equals uncertainty; title: Risk is equal to an event; title: Risk equals expected disutility; title: Risk is restricted to the case of objective probabilities; title: Risk is the same as risk perception; title: Risk relates to negative consequences only; title: Risk is determined by the historical data; title: Risk assessments produce an objective risk picture; title: There are large inherent uncertainties in risk analyses; title: Model uncertainty should be quantified; title: It is meaningful and useful to distinguish between stochastic and epistemic uncertainties; title: Bayesian analysis is based on the use of probability models and Bayesian updating; title: Sensitivity analysis is a type of uncertainty analysis; title: The main objective of risk management is risk reduction; title: Decision-making under uncertainty should be based on science (analysis); title: The precautionary principle and risk management cannot be meaningfully integrated; title: Conclusions.