Consistent risk management: three models outlined
2005 (English)In: Journal of Risk Research, ISSN 1366-9877, E-ISSN 1466-4461, Vol. 8, no 7-8, 557-568 p.Article in journal (Refereed) Published
This article introduces three models on how to understand the demand for consistent risk management. The first model, which accords with traditional risk analysis, is called the Standard Model. In this model, the decisive criterion of whether or not to accept a risk is if the total benefit exceeds the total cost. Since this model cannot protect the individual from unfair risk exposure two more models are outlined. The arguments in the Model of Inviolable Rights and in the Model of Procedural Justice evolve around the separateness of individuals, rights and fair risk taking. It is argued that risk management needs to acknowledge a variety of morally salient factors to avoid exposing people unfairly to risks.
Place, publisher, year, edition, pages
2005. Vol. 8, no 7-8, 557-568 p.
Costs; Mathematical models; Risk assessment; Risk exposure; Total cost; Risk management
IdentifiersURN: urn:nbn:se:kth:diva-5692DOI: 10.1080/13669870500085189ISI: 000233134400001ScopusID: 2-s2.0-28044461977OAI: oai:DiVA.org:kth-5692DiVA: diva2:10140
QC 201007142006-05-102006-05-102010-07-14Bibliographically approved