Chapter

Defining risk

in Risk

Published in print May 2011 | ISBN: 9780199576203
Published online September 2013 | e-ISBN: 9780191777714 | DOI: http://dx.doi.org/10.1093/actrade/9780199576203.003.0003

Series: Very Short Introductions

Defining risk

More Like This

Show all results sharing these subjects:

  • Business and Management
  • Economics
  • Research and Information

GO

Show Summary Details

Preview

‘Defining Risk’ looks at how risks can be specified so we can make choices about them. Effectively defining risk is essential to improving outcomes, but it can lead to a lack of moral feeling or sympathy. Defining risk can be relatively easy for a phenomenon that is easily measured, for example death tolls, but for more complex subjects, such as environmental damage, a range of risk factors must be combined to gain a full picture of the situation. The information gleaned from these definitions must then be converted into an actionable, real-world choice.

Keywords: certainty equivalent; cost-benefit analysis; discounting; equity; fairness; global warming; insurance; loss; poverty; power; risk

Chapter.  5474 words.  Illustrated.

Subjects: Business and Management ; Economics ; Research and Information

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.