Rational Responses To Risks

Author : Paul Weirich
Publisher : Oxford University Press, USA
ISBN 13 : 0190089415
Total Pages : 283 pages
Book Rating : 4.12/5 ( download)

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Download or read book Rational Responses to Risks written by Paul Weirich and published by Oxford University Press, USA. This book was released on 2020 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A philosophical account of risk, such as this book provides, states what risk is, which attitudes to it are rational, and which acts affecting risks are rational. Attention to the nature of risk reveals two types of risk, first, a chance of a bad event, and, second, an act's risk in the sense of the volatility of its possible outcomes. The distinction is normatively significant because different general principles of rationality govern attitudes to these two types of risk. Rationality strictly regulates attitudes to the chance of a bad event and is more permissive about attitudes to an act's risk. Principles of rationality governing attitudes to risk also justify evaluating an act according to its expected utility given that the act's risk, if any, belongs to every possible outcome of the act. For a rational ideal agent, the expected utilities of the acts available in a decision problem explain the agent's preferences among the acts. Maximizing expected utility is just following preferences among the acts. This view takes an act's expected utility, not just as a feature of a representation of preferences among acts, but also as a factor in the explanation of preferences among acts. It takes account of an agent's attitudes to an act's risk without weakening the standard of expected-utility maximization. The view extends to evaluations of combination of acts, either simultaneous or in a sequence. Applications cover hedging, return-risk evaluation, professional advice, and government regulation"--

Author : Carlo C. Jaeger
Publisher : Routledge
ISBN 13 : 1134203020
Total Pages : 321 pages
Book Rating : 4.24/5 ( download)

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Download or read book Risk, Uncertainty and Rational Action written by Carlo C. Jaeger and published by Routledge. This book was released on 2013-11-05 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk as we now know it is a wholly new phenomenon, the by-product of our ever more complex and powerful technologies. In business, policy making, and in everyday life, it demands a new way of looking at technological and environmental uncertainty. In this definitive volume, four of the world's leading risk researchers present a fundamental critique of the prevailing approaches to understanding and managing risk - the 'rational actor paradigm'. They show how risk studies must incorporate the competing interests, values, and rationalities of those involved and find a balance of trust and acceptable risk. Their work points to a comprehensive and significant new theory of risk and uncertainty and of the decision making process they require. The implications for social, political, and environmental theory and practice are enormous. Winner of the 2000-2002 Outstanding Publication Award of the Section on Environment and Technology of the American Sociological Association

Author : Carlo C. Jaeger
Publisher : Routledge
ISBN 13 : 1134203098
Total Pages : 354 pages
Book Rating : 4.93/5 ( download)

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Download or read book Risk, Uncertainty and Rational Action written by Carlo C. Jaeger and published by Routledge. This book was released on 2013-11-05 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk as we now know it is a wholly new phenomenon, the by-product of our ever more complex and powerful technologies. In business, policy making, and in everyday life, it demands a new way of looking at technological and environmental uncertainty. In this definitive volume, four of the world's leading risk researchers present a fundamental critique of the prevailing approaches to understanding and managing risk - the 'rational actor paradigm'. They show how risk studies must incorporate the competing interests, values, and rationalities of those involved and find a balance of trust and acceptable risk. Their work points to a comprehensive and significant new theory of risk and uncertainty and of the decision making process they require. The implications for social, political, and environmental theory and practice are enormous. Winner of the 2000-2002 Outstanding Publication Award of the Section on Environment and Technology of the American Sociological Association

Author : S.R. Walker
Publisher : Springer Science & Business Media
ISBN 13 : 9400932219
Total Pages : 163 pages
Book Rating : 4.10/5 ( download)

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Download or read book Medicines and Risk/Benefit Decisions written by S.R. Walker and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: The third CMR Workshop prov. ided the opportunity for a group of experts from the Industry, academia and the regulatory authorities to meet and discuss ways and means by which risk benefit decisions are made during the various stages of drug development. It became apparent from the discussions that took place in October 1985, at the CIBA Foundation, that decisions are often made with limited data and inadequate methodology. The conclusions drawn from the day's deliberations were as follows: 1. Current methodology for assessing risk and particularly benefits must be improved; 2. Safety must be assessed in association with benefits as it is ultimately the benefit/ risk ratio which should decide the future of medicines; 3. Risks from medicines must always be viewed in relation to the risks from untreated diseases. It seemed to be the consensus of the group that such a meeting was both useful and informative and, hopefully, the publication of these proceedings will stimulate further discussion in this important area which may improve the decision-making process in drug development. The Editors wish to thank the participants for contributing to the Work shop, together with Dr. Cyndy Lumley for providing the initial transcript of the meeting and Mrs Sheila Wright for producing the final version and for carrying out all the additional work that is entailed in producing such a publication. Professor S. R. Walker A. W.

Author :
Publisher : National Academies Press
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4./5 ( download)

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Download or read book Risk and Decision Making written by and published by National Academies Press. This book was released on 1982-01-01 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : W. Kip Viscusi
Publisher : Clarendon Press
ISBN 13 : 0191522139
Total Pages : 152 pages
Book Rating : 4.30/5 ( download)

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Download or read book Rational Risk Policy written by W. Kip Viscusi and published by Clarendon Press. This book was released on 1998-03-12 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rational Risk Policy is based on Viscusi's Arne Ryde Memorial Lectures, delivered at Lund University in 1996. The organizing principle of these lectures is that the irrationality of individual decisions is often embodied in government regulations. Rather than overcoming the inadequacies in individual risk beliefs and behaviour, governmental regulations often institutionalize them. Viscusi examines how consumers and workers perceive risk and the implications of these risk beliefs and behavioural responses to risk for government policy. Hazard warnings efforts, direct regulation, and liability are among the alternative modes of intervention. The role of risk tradeoffs with respect to the value of life as well as the consequences of wasteful regulatory expenditures are considered in a discussion of riskrisk analysis. Rational Risk Policy also includes a critique of the risk analysis practices used by government agencies as well as a consideration of how liability and social insurance should be integrated into a rational risk management strategy.

Author : Richard A. Posner
Publisher : Oxford University Press
ISBN 13 : 9780195346398
Total Pages : 336 pages
Book Rating : 4.94/5 ( download)

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Download or read book Catastrophe written by Richard A. Posner and published by Oxford University Press. This book was released on 2004-11-11 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Catastrophic risks are much greater than is commonly appreciated. Collision with an asteroid, runaway global warming, voraciously replicating nanomachines, a pandemic of gene-spliced smallpox launched by bioterrorists, and a world-ending accident in a high-energy particle accelerator, are among the possible extinction events that are sufficiently likely to warrant careful study. How should we respond to events that, for a variety of psychological and cultural reasons, we find it hard to wrap our minds around? Posner argues that realism about science and scientists, innovative applications of cost-benefit analysis, a scientifically literate legal profession, unprecedented international cooperation, and a pragmatic attitude toward civil liberties are among the keys to coping effectively with the catastrophic risks.

Author : Institute of Medicine
Publisher : National Academies Press
ISBN 13 : 0309057906
Total Pages : 43 pages
Book Rating : 4.05/5 ( download)

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Download or read book Risk Communication and Vaccination written by Institute of Medicine and published by National Academies Press. This book was released on 1997-08-10 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Douglas W. Hubbard
Publisher : John Wiley & Sons
ISBN 13 : 111952203X
Total Pages : 391 pages
Book Rating : 4.34/5 ( download)

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Download or read book The Failure of Risk Management written by Douglas W. Hubbard and published by John Wiley & Sons. This book was released on 2020-03-04 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to adopting an accurate risk analysis methodology The Failure of Risk Management provides effective solutionstosignificantfaults in current risk analysis methods. Conventional approaches to managing risk lack accurate quantitative analysis methods, yielding strategies that can actually make things worse. Many widely used methods have no systems to measure performance, resulting in inaccurate selection and ineffective application of risk management strategies. These fundamental flaws propagate unrealistic perceptions of risk in business, government, and the general public. This book provides expert examination of essential areas of risk management, including risk assessment and evaluation methods, risk mitigation strategies, common errors in quantitative models, and more. Guidance on topics such as probability modelling and empirical inputs emphasizes the efficacy of appropriate risk methodology in practical applications. Recognized as a leader in the field of risk management, author Douglas W. Hubbard combines science-based analysis with real-world examples to present a detailed investigation of risk management practices. This revised and updated second edition includes updated data sets and checklists, expanded coverage of innovative statistical methods, and new cases of current risk management issues such as data breaches and natural disasters. Identify deficiencies in your current risk management strategy and take appropriate corrective measures Adopt a calibrated approach to risk analysis using up-to-date statistical tools Employ accurate quantitative risk analysis and modelling methods Keep pace with new developments in the rapidly expanding risk analysis industry Risk analysis is a vital component of government policy, public safety, banking and finance, and many other public and private institutions. The Failure of Risk Management: Why It's Broken and How to Fix It is a valuable resource for business leaders, policy makers, managers, consultants, and practitioners across industries.

Author : Mary Douglas
Publisher : Routledge
ISBN 13 : 1135033749
Total Pages : 119 pages
Book Rating : 4.43/5 ( download)

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Download or read book Risk and Acceptability written by Mary Douglas and published by Routledge. This book was released on 2013-04-15 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1985, Mary Douglas intended Risk and Acceptability as a review of the existing literature on the state of risk theory. Unsatisfied with the current studies of risk, which she found to be flawed by individualistic and psychologistic biases, she instead uses the book to argue risk analysis from an anthropological perspective. Douglas raises questions about rational choice, the provision of public good and the autonomy of the individual.