Risk - Knowledge

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media, they may overvalue relatively rare but dramatic risks because of their overpresence and undervalue frequent, less dramatic risks. Third, according to the preparedness hypothesis, people are prone to fear events that have been particularly threatening to survival in human evolutionary history. Given that in most of human evolutionary history people lived in relatively small groups, rarely exceeding 100 people, a dread risk, which kills many people at once, could potentially wipe out one's whole group. Indeed, research found that people's fear peaks for risks killing around 100 people but does not increase if larger groups are killed. Fourth, fearing dread risks can be an ecologically rational strategy. Besides killing a large number of people at a single point in time, dread risks reduce the number of children and young adults who would have potentially produced offspring. Accordingly, people are more concerned about risks killing younger, and hence more fertile, groups.

2431:... Uncertainty must be taken in a sense radically distinct from the familiar notion of Risk, from which it has never been properly separated. The term "risk," as loosely used in everyday speech and in economic discussion, really covers two things which, functionally at least, in their causal relations to the phenomena of economic organization, are categorically different. ... The essential fact is that "risk" means in some cases a quantity susceptible of measurement, while at other times it is something distinctly not of this character; and there are far-reaching and crucial differences in the bearings of the phenomenon depending on which of the two is really present and operating. ... It will appear that a measurable uncertainty, or "risk" proper, as we shall use the term, is so far different from an unmeasurable one that it is not in effect an uncertainty at all. We ... accordingly restrict the term "uncertainty" to cases of the non-quantitive type. 2382:

negative feedback about past risk taking can affect future risk taking. In one experiment, people who were led to believe they are very competent at decision making saw more opportunities in a risky choice and took more risks, while those led to believe they were not very competent saw more threats and took fewer risks. People show risk aversion, so that they reject fair risky offers like a coin toss with an equal chance of winning and losing the same amount. The expected premium for taking risks increases as the gambled amount increases. Critically, people's intuitive response is often less risk-averse than their subsequent reflective response.

2405:. A May 3, 2015 article in the Wall Street Journal by Georgette Jasen reported that "when it comes to investing, men sometimes have their way of doing things, and women have different ways." Scholarly research has documented systematic differences in financial decisions such as buying investments versus insurance, donating to ingroups versus outgroups (such as terrorism victims in Iraq versus the United States), spending in stores, and the endowment effect-or asking price for goods people have. 689: 7818: 8212: 8202: 2553:. Risk tolerance looks at acceptable/unacceptable deviations from what is expected. Risk appetite looks at how much risk one is willing to accept. There can still be deviations that are within a risk appetite. For example, recent research finds that insured individuals are significantly likely to divest from risky asset holdings in response to a decline in health, controlling for variables such as income, age, and out-of-pocket medical expenses. 2617: 2511:, is subject to regression to the tail (infinite mean or variance, rendering the law of large numbers invalid or ineffective), and is therefore difficult or impossible to predict. A common error in risk assessment and analysis is to underestimate the wildness of risk, assuming risk to be mild when in fact it is wild, which must be avoided if risk assessment and analysis are to be valid and reliable, according to Mandelbrot. 38: 2205:" proposes that judgements and decision-making about risks are guided, either consciously or unconsciously, by the positive and negative feelings associated with them. This can explain why judgements about risks are often inversely correlated with judgements about benefits. Logically, risk and benefit are distinct entities, but it seems that both are linked to an individual's feeling about a hazard. 2179:

statistical approach to disasters lacks emotion and thus fails to convey the true meaning of disasters and fails to motivate proper action to prevent them. This is consistent with psychometric research showing the importance of "dread" (an emotion) alongside more logical factors such as the number of people exposed.

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Gambling is a risk-increasing investment, wherein money on hand is risked for a possible large return, but with the possibility of losing it all. Purchasing a lottery ticket is a very risky investment with a high chance of no return and a small chance of a very high return. In contrast, putting money

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In general, the aim of risk management is to assist organizations in "setting strategy, achieving objectives and making informed decisions". The outcomes should be "scientifically sound, cost-effective, integrated actions that risks while taking into account social, cultural, ethical, political, and

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suggests that high lack of control, high catastrophic potential, and severe consequences account for the increased risk perception and anxiety associated with dread risks. Second, because people estimate the frequency of a risk by recalling instances of its occurrence from their social circle or the

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Risk analysis often uses data on the probabilities and consequences of previous events. Where there have been few such events, or in the context of systems that are not yet operational and therefore have no previous experience, various analytical methods may be used to estimate the probabilities and

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The Occupational Health and Safety Assessment Series (OHSAS) standard OHSAS 18001 in 1999 defined risk as the "combination of the likelihood and consequence(s) of a specified hazardous event occurring". In 2018 this was replaced by ISO 45001 "Occupational health and safety management systems", which

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Health, safety, and environment (HSE) are separate practice areas; however, they are often linked. The reason is typically to do with organizational management structures; however, there are strong links among these disciplines. One of the strongest links is that a single risk event may have impacts

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The experience of many people who rely on human services for support is that 'risk' is often used as a reason to prevent them from gaining further independence or fully accessing the community, and that these services are often unnecessarily risk averse. "People's autonomy used to be compromised by

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For organizations whose definition of risk includes "upside" as well as "downside" risks, risk management is "as much about identifying opportunities as avoiding or mitigating losses". It then involves "getting the right balance between innovation and change on the one hand, and avoidance of shocks

249:"Likelihood and severity of events". The "triplet" definition of risk as "scenarios, probabilities and consequences" was proposed by Kaplan & Garrick (1981). Many definitions refer to the likelihood/probability of events/effects/losses of different severity/consequence, e.g. ISO Guide 73 Note 4. 2270:

is a strong moral emotion, involving anger over an adverse event coupled with an attribution of blame towards someone perceived to have failed to do what they should have done to prevent it. Outrage is the consequence of an event, involving a strong belief that risk management has been inadequate.

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studies human risk-aversion, asymmetric regret, and other ways that human financial behaviour varies from what analysts call "rational". Recognizing and respecting the irrational influences on human decision making may improve naive risk assessments that presume rationality but in fact merely fuse

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views risk perception as a collective phenomenon by which different cultures select some risks for attention and ignore others, with the aim of maintaining their particular way of life. Hence risk perception varies according to the preoccupations of the culture. The theory distinguishes variations

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This definition was developed by an international committee representing over 30 countries and is based on the input of several thousand subject-matter experts. It was first adopted in 2002 for use in standards. Its complexity reflects the difficulty of satisfying fields that use the term risk, in

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In this sense, one may have uncertainty without risk but not risk without uncertainty. We can be uncertain about the winner of a contest, but unless we have some personal stake in it, we have no risk. If we bet money on the outcome of the contest, then we have a risk. In both cases there are more

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In most activities, risks can be reduced by adding further controls or other treatment options, but typically this increases cost or inconvenience. It is rarely possible to eliminate risks altogether without discontinuing the activity. Sometimes it is desirable to increase risks to secure valued

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A growing area of research has been to examine various psychological aspects of risk taking. Researchers typically run randomised experiments with a treatment and control group to ascertain the effect of different psychological factors that may be associated with risk taking. Thus, positive and

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is concerned with the production, distribution and consumption of goods and services. Economic risk arises from uncertainty about economic outcomes. For example, economic risk may be the chance that macroeconomic conditions like exchange rates, government regulation, or political stability will

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From the Theory of Leaky Modules McElroy and Seta proposed that they could predictably alter the framing effect by the selective manipulation of regional prefrontal activity with finger tapping or monaural listening. The result was as expected. Rightward tapping or listening had the effect of

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where behavioural and organizational psychology underpin our understanding of risk based decision making. This field considers questions such as "how do we make risk based decisions?", "why are we irrationally more scared of sharks and terrorists than we are of motor vehicles and medications?"

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While risk assessment is often described as a logical, cognitive process, emotion also has a significant role in determining how people react to risks and make decisions about them. Some argue that intuitive emotional reactions are the predominant method by which humans evaluate risk. A purely

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Cultural Theory helps explain why it can be difficult for people with different world-views to agree about whether a hazard is acceptable, and why risk assessments may be more persuasive for some people (e.g. hierarchists) than others. However, there is little quantitative evidence that shows

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Risk analysis is about developing an understanding of the risk. ISO defines it as "the process to comprehend the nature of risk and to determine the level of risk". In the ISO 31000 risk assessment process, risk analysis follows risk identification and precedes risk evaluation. However, these

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is an emotional state that is stimulated by anticipation of a future negative outcome, or by uncertainty about future outcomes. It is therefore an obvious accompaniment to risk, and is initiated by many hazards and linked to increases in perceived risk. It may be a natural incentive for risk

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An understanding that future events are uncertain and a particular concern about harmful ones may arise in anyone living in a community, experiencing seasons, hunting animals or growing crops. Most adults therefore have an intuitive understanding of risk. This may not be exclusive to humans.

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Sometimes, risk identification methods are limited to finding and documenting risks that are to be analysed and evaluated elsewhere. However, many risk identification methods also consider whether control measures are sufficient and recommend improvements. Hence they function as stand-alone

2597:. Michael Fischer and Ewan Ferlie (2013) find that contradictions between formal risk controls and the role of subjective factors in human services (such as the role of emotions and ideology) can undermine service values, so producing tensions and even intractable and 'heated' conflict. 2330:) may be ignored in analysis despite the fact it has occurred and has a nonzero probability. Or, an event that everyone agrees is inevitable may be ruled out of analysis due to greed or an unwillingness to admit that it is believed to be inevitable. These human tendencies for error and 2236:

It is common for people to dread some risks but not others: They tend to be very afraid of epidemic diseases, nuclear power plant failures, and plane accidents but are relatively unconcerned about some highly frequent and deadly events, such as traffic crashes, household accidents, and

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A security risk is "any event that could result in the compromise of organizational assets i.e. the unauthorized use, loss, damage, disclosure or modification of organizational assets for the profit, personal interest or political interests of individuals, groups or other entities."

436:" (returns below expectations, including the possibility of losing some or all of the original investment) but also "upside risk" (returns that exceed expectations). In Knight's definition, risk is often defined as quantifiable uncertainty about gains and losses. This contrasts with 304:

concludes that "experience has shown that to agree on one unified set of definitions is not realistic". The solution is "to allow for different perspectives on fundamental concepts and make a distinction between overall qualitative definitions and their associated measurements."

715:(HRO) involves complex operations in environments where catastrophic accidents could occur. Examples include aircraft carriers, air traffic control, aerospace and nuclear power stations. Some HROs manage risk in a highly quantified way. The technique is usually referred to as 1967: 218:"Measurable uncertainty". This definition comes from Knight's "Risk, Uncertainty and Profit" (1921). It allows "risk" to be used equally for positive and negative outcomes. In insurance, risk involves situations with unknown outcomes but known probability distributions. 535:

is the process of characterizing the nature and likelihood of a harmful effect to individuals or populations from certain human activities. Health risk assessment can be mostly qualitative or can include statistical estimates of probabilities for specific populations.

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of the payoff. For example, a risk-neutral person would consider 20% chance of winning $ 1 million exactly as desirable as getting a certain $ 200,000. However, most decision-makers are not actually risk-neutral and would not consider these equivalent choices.

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The term "risk" has a long history in insurance and has acquired several specialised definitions, including "the subject-matter of an insurance contract", "an insured peril" as well as the more common "possibility of an event occurring which causes injury or loss".

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No definition is advanced as the correct one, because there is no one definition that is suitable for all problems. Rather, the choice of definition is a political one, expressing someone's views regarding the importance of different adverse effects in a particular

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The simplest framework for risk criteria is a single level which divides acceptable risks from those that need treatment. This gives attractively simple results but does not reflect the uncertainties involved both in estimating risks and in defining the criteria.

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about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. One

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was coined in the 1980s and its popularity during the 1990s was both as a consequence of its links to trends in thinking about wider modernity, and also to its links to popular discourse, in particular the growing environmental concerns during the period.

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Risk management refers to a systematic approach to managing risks, and sometimes to the profession that does this. A general definition is that risk management consists of "coordinated activities to direct and control an organization with regard to risk".

203:", meaning a potential source of harm. This definition comes from Blount's "Glossographia" (1661) and was the main definition in the OED 1st (1914) and 2nd (1989) editions. Modern equivalents refer to "unwanted events" or "something bad that might happen". 2101:

Despite the difficulty of thinking statistically, people are typically over-confident in their judgements. They over-estimate their understanding of the world and under-estimate the role of chance. Even experts are over-confident in their judgements.

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In ancient times, the dominant belief was in divinely determined fates, and attempts to influence the gods may be seen as early forms of risk management. Early uses of the word 'risk' coincided with an erosion of belief in divinely ordained fate.

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in a bank at a defined rate of interest is a risk-averse action that gives a guaranteed return of a small gain and precludes other investments with possibly higher gain. The possibility of getting no return on an investment is also known as the

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Business risks arise from uncertainty about the profit of a commercial business due to unwanted events such as changes in tastes, changing preferences of consumers, strikes, increased competition, changes in government policy, obsolescence etc.

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Quantitative approaches, including Quantitative risk assessment (QRA) and probabilistic risk assessment (PRA), estimate probabilities and consequences in appropriate units, combine them into risk metrics, and evaluate them using numerical risk

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In contexts where risks are always harmful, risk management aims to "reduce or prevent risks". In the safety field it aims "to protect employees, the general public, the environment, and company assets, while avoiding business interruptions".

287:"Potential returns from an event , where the returns are any changes, effects, consequences, and so on, of the event". This definition from Newsome (2014) expands the neutrality of 'risk' akin to the UK Cabinet Office (2002) and Knight (1921). 2245:, many Americans were afraid to fly and took their car instead, a decision that led to a significant increase in the number of fatal crashes in the time period following the 9/11 event compared with the same time period before the attacks. 1317:). These typically divide consequences and likelihoods into 3 to 5 bands. Different scales can be used for different types of consequences (e.g. finance, safety, environment etc.), and can include positive as well as negative consequences. 268:"Uncertainty of outcome". This definition was adopted by the UK Cabinet Office (2002) to encourage innovation to improve public services. It allowed "risk" to describe either "positive opportunity or negative threat of actions and events". 2368:

Framing involves other information that affects the outcome of a risky decision. The right prefrontal cortex has been shown to take a more global perspective while greater left prefrontal activity relates to local or focal processing.

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Note 3: An objective can be expressed in other ways, e.g. as an intended outcome, a purpose, an operational criterion, as a management system objective, or by the use of other words with similar meaning (e.g. aim, goal, target).

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in all three areas, albeit over differing timescales. For example, the uncontrolled release of radiation or a toxic chemical may have immediate short-term safety consequences, more protracted health impacts, and much longer-term

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Note 2: Uncertainty is the root source of risk, namely any kind of “deficiency of information” that matters in relation to objectives (and objectives, in turn, relate to all relevant interested parties’ needs and expectations).

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is an individual or collaborative undertaking planned to achieve a specific aim. Project risk is defined as, "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives".

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The understanding of risk, the common methods of management, the measurements of risk and even the definition of risk differ in different practice areas. This section provides links to more detailed articles on these areas.

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Note 2: Objectives can relate to different disciplines (such as financial, health and safety, and environmental goals) and can apply at different levels (such as strategic, organization-wide, project, product and process).

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in response to the perceived level of risk, becoming more careful where they sense greater risk and less careful if they feel more protected. By way of example, it has been observed that motorists drove faster when wearing

2091:" is the process of judging the probability of an event by the ease with which instances come to mind. In general, rare but dramatic causes of death are over-estimated while common unspectacular causes are under-estimated. 1981:, or expected rates of specific loss events per unit time. When small, frequencies are numerically similar to probabilities, but have dimensions of and can sum to more than 1. Typical outcomes expressed this way include: 764:

Risk is ubiquitous in all areas of life and we all manage these risks, consciously or intuitively, whether we are managing a large organization or simply crossing the road. Intuitive risk management is addressed under the

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causing harm to people, property and the environment. In the safety field, risk is typically defined as the "likelihood and severity of hazardous events". Safety risks are controlled using techniques of risk management.

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narrowing attention such that the frame was ignored. This is a practical way of manipulating regional cortical activation to affect risky decisions, especially because directed tapping or listening is easily done.

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paradigm" assumes that risk is subjectively defined by individuals, influenced by factors that can be elicited by surveys. People's perception of the risk from different hazards depends on three groups of factors:

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describes it as the first step in a risk assessment process, preceding risk analysis and risk evaluation. In safety contexts, where risk sources are known as hazards, this step is known as "hazard identification".

2315:(our brains get overloaded, so we take mental shortcuts), the risk of extreme events is discounted because the probability is too low to evaluate intuitively. As an example, one of the leading causes of death is 6625:

Neill, M. Allen, J. Woodhead, N. Reid, S. Irwin, L. Sanderson, H. 2008 "A Positive Approach to Risk Requires Person Centred Thinking" London, CSIP Personalisation Network, Department of Health. Available from:

6010: 2241:. One key distinction of dreadful risks seems to be their potential for catastrophic consequences, threatening to kill a large number of people within a short period of time. For example, immediately after the 543:(also referred to as a health risk appraisal and health & well-being assessment) is a questionnaire screening tool, used to provide individuals with an evaluation of their health risks and quality of life. 2467:: A set of possibilities each with quantified probabilities and quantified losses. Example: "There is a 40% chance the proposed oil well will be dry with a loss of $ 12 million in exploratory drilling costs." 2227:

is a more intense emotional response to danger, which increases the perceived risk. Unlike anxiety, it appears to dampen efforts at risk minimisation, possibly because it provokes a feeling of helplessness.

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is the practice of protecting information by mitigating information risks. While IT risk is narrowly focused on computer security, information risks extend to other forms of information (paper, microfilm).

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than one outcome. The measure of uncertainty refers only to the probabilities assigned to outcomes, while the measure of risk requires both probabilities for outcomes and losses quantified for outcomes.

208:"Chance of harm". This definition comes from Johnson's "Dictionary of the English Language" (1755), and has been widely paraphrased, including "possibility of loss" or "probability of unwanted events". 213:"Uncertainty about loss". This definition comes from Willett's "Economic Theory of Risk and Insurance" (1901). This links "risk" to "uncertainty", which is a broader term than chance or probability. 1832: 634:

Insurance risk is often taken by insurance companies, who then bear a pool of risks including market risk, credit risk, operational risk, interest rate risk, mortality risk, longevity risks, etc.

223:"Volatility of return". Equivalence between risk and variance of return was first identified in Markovitz's "Portfolio Selection" (1952). In finance, volatility of return is often equated to risk. 2017:, defined as a one in a million chance of death, and hence 1 million times higher than the probability of death. In many cases, the risk depends on the time of exposure, and so is expressed as a 5917:

Masson, Maxime; Lamoureux, Julie; de Guise, Elaine (October 2019). "Self-reported risk-taking and sensation-seeking behavior predict helmet wear amongst Canadian ski and snowboard instructors".

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Risk identification is "the process of finding, recognizing and recording risks". It "involves the identification of risk sources, events, their causes and their potential consequences."

1717: 263:"Uncertain events affecting objectives". This definition was adopted by the Association for Project Management (1997). With slight rewording it became the definition in ISO Guide 73. 4316:

Boroomand, A. and Smaldino, P.E., 2021. Hard Work, Risk-Taking, and Diversity in a Model of Collective Problem Solving. Journal of Artificial Societies and Social Simulation, 24(4).

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Sex differences in financial decision making are relevant and significant. Numerous studies have found that women tend to be financially more risk-averse than men and hold safer

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is the subjective judgement that people make about the characteristics and severity of a risk. At its most basic, the perception of risk is an intuitive form of risk analysis.

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Risk evaluation involves comparing estimated levels of risk against risk criteria to determine the significance of the risk and make decisions about risk treatment actions.

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Semi-quantitative approaches use numerical rating scales to group the consequences and probabilities of events into bands such as "high", "medium" and "low". They may use a

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Risk assessment is a systematic approach to recognising and characterising risks, and evaluating their significance, in order to support decisions about how to manage them.

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Kurt, Didem; Inman, J. Jeffrey; Argo, Jennifer J. (2011). "The influence of friends on consumer spending: The role of agency-communion orientation and self-monitoring".

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Hill, KR; Walker, RS; Bozicevic, M; Eder, J; Headland, T; et al. (2011). "Co-residence patterns in hunter-gatherer societies show unique human social structure".

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distinguished between "mild" and "wild" risk and argued that risk assessment and analysis must be fundamentally different for the two types of risk. Mild risk follows

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Individual risk - the frequency of a given level of harm to an individual. It often refers to the expected annual probability of death, and is then comparable to the

165:(ISO) 31073 provides basic vocabulary to develop common understanding on risk management concepts and terms across different applications. ISO 31073 defines risk as: 1548: 1264: 1235: 1206: 4236:

Carson, James M.; Elyasiani, Elyas; Mansur, Iqbal (2008). "Market Risk, Interest Rate Risk, and Interdependencies in Insurer Stock Returns: A System-GARCH Model".

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The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (

2098:" is a self-reinforcing cycle in which public concern about relatively minor events is amplified by media coverage until the issue becomes politically important. 1649:

For example, if there is a probability of 0.01 of suffering an accident with a loss of $ 1000, then total risk is a loss of $ 10, the product of 0.01 and $ 1000.

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Drake, R. A. (2004). Selective potentiation of proximal processes: Neurobiological mechanisms for spread of activation. Medical Science Monitor, 10, 231–234.

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Dread – the degree to which the hazard is feared or might be fatal, catastrophic, uncontrollable, inequitable, involuntary, increasing or difficult to reduce.

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Gregory, Kent J.; Bibbo, Giovanni; Pattison, John E. (2005). "A Standard Approach to Measurement Uncertainties for Scientists and Engineers in Medicine".

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In a situation with several possible accident scenarios, total risk is the sum of the risks for each scenario, provided that the outcomes are comparable:

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Intuitive understanding of risk differs in systematic ways from accident statistics. When making judgements about uncertain events, people rely on a few

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Frank Hyneman Knight "Risk, uncertainty and profit" pg. 19, Hart, Schaffner, and Marx Prize Essays, no. 31. Boston and New York: Houghton Mifflin. 1921.

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Dommer, Sara Loughran; Swaminathan, Vanitha (2013). "Explaining the endowment effect through ownership: The role of identity, gender, and self-threat".

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Voudouri, A.; Białek, M.; De Neys, W. (2024). "Fast & slow decisions under risk: Intuition rather than deliberation drives advantageous choices".

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John O'Brien cited in Sanderson, H. Lewis, J. A Practical Guide to Delivering Personalisation; Person Centred Practice in Health and Social Care p211

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principles, which convert the task of estimating probabilities to simpler judgements. These heuristics are useful but suffer from systematic biases.

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Miller, L.; Milner, B. (1985). "Cognitive risk taking after frontal or temporal lobectomy II. The synthesis of phonemic and semantic information".

336:. In many cases they may be managed by intuitive steps to prevent or mitigate risks, by following regulations or standards of good practice, or by 6516:

Kruger, Daniel J., Wang, X.T., & Wilke, Andreas (2007) "Towards the development of an evolutionarily valid domain-specific risk-taking scale"

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for an example of this approach. The incidence rate can also be reduced due to the provision of better occupational health and safety programmes.

6338:; Robbins, T. W. (2003). "The contributions of lesion laterality and lesion volume to decision-making impairment following frontal lobe damage". 344:

includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives.

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Note 1: An effect is a deviation from the expected. It can be positive, negative or both, and can address, create or result in opportunities and

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Man and Society in Calamity: The Effects of War, Revolution, Famine, Pestilence upon Human Mind, Behavior, Social Organization and Cultural Life

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In finance, risk is the possibility that the actual return on an investment will be different from its expected return. This includes not only "

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Egalitarians (high group/low grid), who tend to object to technology because it perpetuates inequalities that harm society and the environment.

162: 145:(Exposure to) the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility. 8230: 6627: 4472: 6150:. Risk explained and its appreciation by man traced from earliest times through all the major figures of their ages in mathematical circles. 187:

different ways. Some restrict the term to negative impacts ("downside risks"), while others also include positive impacts ("upside risks").

6754: 4918: 2449:: The lack of complete certainty, that is, the existence of more than one possibility. The "true" outcome/state/result/value is not known. 627:

is a risk treatment option which involves risk sharing. It can be considered as a form of contingent capital and is akin to purchasing an

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are often used similarly to describe an organisation's or individual's attitude towards risk-taking. One's attitude may be described as

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A disadvantage of defining risk as the product of impact and probability is that it presumes, unrealistically, that decision-makers are

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aims to increase the likelihood and impact of positive events and decrease the likelihood and impact of negative events in the project.

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known as "group" (the degree of binding to social groups) and "grid" (the degree of social regulation), leading to four world-views:

1561: 4426:. In Popov G, Lyon BK, Hollcraft B (eds.). Risk Assessment: A Practical Guide to Assessing Operational Risks: John Wiley & Sons. 2455:: A set of probabilities assigned to a set of possibilities. Example: "There is a 60% chance this market will double in five years." 2013:

Many risks to people are expressed as probabilities of death. Since mortality risks are very small, they are sometimes converted to

8240: 2688: – these have usually been perceived as produced by non-human forces. Modern societies, however, are exposed to risks such as 2594: 2151:

Hierarchists (high group /high grid), who tend to approve of technology providing its risks are evaluated as acceptable by experts.

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Finucane, M.L.; Alhakami, A.; Slovic, P.; Johnson, S.M. (January 2000). "The Affect Heuristic in Judgment of Risks and Benefits".

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A simple way of summarizing the size of the distribution's tail is the loss with a certain probability of exceedance, such as the

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Miller, L (1985). "Cognitive risk taking after frontal or temporal lobectomy I. The synthesis of fragmented visual information".

6526:"Contradictory approaches? On realism and constructivism in the social sciences research on risk, technology and the environment" 5762: 1750:

is a philosophical thought experiment that demonstrates issues in assessing risk solely by the expected value of loss or return.

4545: 7514: 3988: 1962:{\displaystyle \beta _{i}={\frac {\sigma _{im}}{\sigma _{m}^{2}}}={\frac {\mathrm {Cov} (r_{i},r_{m})}{\mathrm {Var} (r_{m})}}} 779:, the international standard for risk management, describes a risk management process that consists of the following elements: 5449:"On the role of response conflicts and stimulus position for hemispheric differences in global/local processing: An ERP study" 5412:

Schatz, J.; Craft, S.; Koby, M.; DeBaun, M. R. (2004). "Asymmetries in visual-spatial processing following childhood stroke".

5031:"9/11, Act II: A fine-grained analysis of regional variations in traffic fatalities in the aftermath of the terrorist attacks" 3675:

Glossographia, or, A dictionary interpreting all such hard words of whatsoever language now used in our refined English tongue

8215: 7705: 7499: 6660: 6308: 6297: 6268: 6233: 6214: 6195: 6172: 5886: 3315: 3107: 3067: 2323:– partly because any given driver frames the problem by largely or totally ignoring the risk of a serious or fatal accident. 991: 254:"Consequences and associated uncertainty". This was proposed by Kaplan & Garrick (1981). This definition is preferred in 2221:

reduction. However, worry sometimes triggers behaviour that is irrelevant or even increases objective measurements of risk.

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is the degree of variation of a trading price over time, usually measured by the standard deviation of logarithmic returns.

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etc). This article provides links to more detailed articles on these areas. The international standard for risk management,

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Qualitative approaches are based on qualitative descriptions of risks and rely on judgement to evaluate their significance.

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In the environmental context, risk is defined as "The chance of harmful effects to human health or to ecological systems".

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is the ratio of the probability of an outcome in an exposed group to the probability of an outcome in an unexposed group.

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One way of highlighting the tail of this distribution is by showing the probability of exceeding given losses, known as a

844:

defines it in terms of its components as "the overall process of risk identification, risk analysis and risk evaluation".

6715: 6411:

Drake, R. A. (1985). "Decision making and risk taking: Neurological manipulation with a proposed consistency mediation".

2122:

Unknown - the degree to which the hazard is unknown to those exposed, unobservable, delayed, novel or unknown to science.

1639:{\displaystyle R=({\text{probability of the accident occurring}})\times ({\text{expected loss in case of the accident}})} 1054: 5448: 3868: 8120: 6910: 4104: 516:

is the study and analysis of the distribution, patterns and determinants of health and disease. It is a cornerstone of

352: 236:. The probability of an event multiplied by its magnitude was proposed as a definition of risk for the planning of the 182:

Note 3: Risk is usually expressed in terms of risk sources, potential events, their consequences and their likelihood.

6839: 6647: 6286: 6147: 5861: 3816: 2664: 907: 5126:Öhman, A; Mineka, S (2001). "Fears, phobias, and preparedness: Toward an evolved module of fear and fear learning". 2646: 1110: 792:- recognising and characterising risks, and evaluating their significance to support decision-making. This includes 494:

refers to the potential that an audit report may fail to detect material misstatement either due to error or fraud.

282:"Human interaction with uncertainty". This definition comes from Cline (2015) in the context of adventure education. 6905: 6652: 3634:

Note 1: A threat is a negative situation in which loss is likely and over which one has relatively little control.

2461:: A state of uncertainty where some of the possibilities involve a loss, catastrophe, or other undesirable outcome. 1554: 2160:

Fatalists (low group/high grid), who do not knowingly take risks but tend to accept risks that are imposed on them

392:

Environmental risk assessment aims to assess the effects of stressors, often chemicals, on the local environment.

7984: 7484: 6875: 6865: 1658: 8105: 7489: 5393:

Virine, L., & Trumper, M. Project Risk Analysis Made Ridiculously Simple. World Scientific Publishing. 2017

4053: 3223:

The Risk Factor: Why Every Organization Needs Big Bets, Bold Characters, and the Occasional Spectacular Failure

2642: 1012: 652: 647: 3574:

Note 1: In some cases, uncertainty can be related to the organization’s context as well as to its objectives.

1810:

measures the volatility of an individual asset to overall market changes. This is the asset's contribution to

917:

Empirical methods, such as testing and modelling to identify what might happen under particular circumstances.

8225: 8130: 5590: 5333:

Wang, XT (1996). "Evolutionary hypotheses of risk-sensitive choice: Age differences and perspective change".

4150: 3436: 716: 712: 17: 5276:"When dread risks are more dreadful than continuous risks: Comparing cumulative population losses over time" 2361:": acceptance of obviously wrong answers simply because it is socially painful to disagree, where there are 7728: 7647: 6895: 6796: 6073: 5089:

Lichtenstein, S; Slovic, P; Fischhoff, B; Layman, M; Combs, B (1978). "Judged frequency of lethal events".

4281: 2022: 1509: 911: 903: 6628:

https://web.archive.org/web/20090218231745/http://networks.csip.org.uk/Personalisation/Topics/Browse/Risk/

5504: 4824: 3641: 2346: 1994:

Group (or societal risk) – the relationship between the frequency and the number of people suffering harm.

8135: 7767: 7464: 7161: 7107: 6946: 6781: 3614: 3582: 3554: 1066: 1039:

Criteria that define the level of risk that can be accepted in pursuit of objectives, sometimes known as

759: 8268: 8100: 7752: 7112: 6976: 6870: 5591:"How Believing in Ourselves Increases Risk Taking: Perceived Self-Efficacy and Opportunity Recognition" 3969: 3310: 3285: 2129:

Hazards with high perceived risk are in general seen as less acceptable and more in need of reduction.

370:

In economics, as in finance, risk is often defined as quantifiable uncertainty about gains and losses.

341: 2157:

Individualists (low group/low grid), who tend to approve of technology and see risks as opportunities.

1310:. They may be quantitative or qualitative, and can include positive as well as negative consequences. 179:

Note 2: Objectives can have different aspects and categories, and can be applied at different levels.

8080: 7191: 7080: 6890: 6791: 3527: 2308: 1326: 472: 301: 126: 6111:(= University of Hong Kong, Department of Sociology Occasional Papers 17), Hong Kong, available via 5970: 4909: 4250: 2301:, regret (and anticipation of regret) can play a significant part in decision-making, distinct from 8060: 7782: 7564: 7316: 7221: 7186: 7166: 6834: 6786: 5347: 4129: 3365: 3290: 2627: 2488: 277:". This definition comes from the Threat Analysis Group (2010) in the context of computer security. 291:

Some resolve these differences by arguing that the definition of risk is subjective. For example:

7895: 7787: 7762: 7742: 7685: 7367: 7156: 7024: 6971: 6829: 6819: 6708: 6321:

Cevolini, A (2015). ""Tempo e decisione. Perché Aristotele non-ha un concetto di rischio?" PDF".

3717: 3532: 3360: 3280: 2981:

Paying the Price: The status and role of insurance against natural disasters in the United States

2631: 2508: 2500: 2143: 2138: 1767: 902:

Team-based methods that systematically consider possible deviations from normal operations, e.g.

677: 447: 443: 5019:

Gigerenzer G (2004) Dread risk, 11 September, and fatal traffic accidents. Psych Sci 15:286−287.

199:"Source of harm". The earliest use of the word "risk" was as a synonym for the much older word " 8150: 8075: 8055: 8004: 7999: 7777: 7459: 7092: 6920: 6525: 5965: 5715:

Bajtelsmit, Vickie L; Bernasek, Alexandra (1996). "Why Do Women Invest Differently Than Men?".

5342: 4904: 4245: 3340: 3227: 2492: 2088: 2081: 1780: 1504:

If all the consequences are expressed in the same units (or can be converted into a consistent

590: 540: 85: 5402:

Amos Tversky / Daniel Kahneman, 1981. "The Framing of Decisions and the Psychology of Choice."

3472: 2789:

Building Safer Communities. Risk Governance, Spatial Planning and Responses to Natural Hazards

7920: 7915: 7910: 7872: 7772: 7474: 7360: 7289: 7144: 7029: 6991: 6165:

Economic Capital and Financial Risk Management for Financial Services Firms and Conglomerates

6085: 4632:

Tversky, Amos; Kahneman, Daniel (1974). "Judgment under Uncertainty: Heuristics and Biases".

3749: 3693: 3540: 3305: 3270: 2638: 2439:

is immeasurable, not possible to calculate, while in the Knightian sense risk is measurable.

2436: 2362: 2339: 521: 476: 437: 379: 77: 31: 4189: 4143: 1583:

of the loss. This combines the probabilities and consequences into a single value. See also

1518: 741:

Security risk management involves protection of assets from harm caused by deliberate acts.

8185: 8125: 8095: 7964: 7925: 7900: 7865: 7842: 7747: 7583: 7526: 7149: 7129: 6956: 6844: 6764: 6494: 6248: 5631: 5464: 5287: 5228: 5170: 4986: 4641: 3499: 3415: 3380: 3330: 2496: 2248:

Different hypotheses have been proposed to explain why people fear dread risks. First, the

2242: 2183: 2095: 1763: 1242: 1213: 1184: 983:

Proxy or analogue data from other contexts, presumed to be similar in some aspects of risk.

612: 585: 553: 383: 5055: 4222: 4203: 8: 7757: 7642: 7637: 7632: 7617: 7479: 7439: 7201: 7171: 7039: 6900: 6824: 6814: 4325:

Ranking of Risks for Existing and New Building Works, Sustainability 2019, 11(10), 2863,

3375: 3300: 2504: 2484: 2402: 2312: 1747: 1006: 1002: 656: 244:. It was adopted by the US Nuclear Regulatory Commission (1975), and remains widely used. 7097: 6638: 6252: 6186:

Identifying and Managing Project Risk: Essential Tools for Failure-Proofing Your Project

5291: 5232: 5174: 4990: 4645: 3711: 3571:

state, even partial, of deficiency of information related to understanding or knowledge

8205: 7959: 7678: 7590: 7469: 7394: 7211: 7176: 7087: 7044: 7014: 6986: 6981: 6951: 6925: 6749: 6701: 6642: 6614: 6577: 6478: 6441: 6399: 6363: 6033: 5934: 5798: 5609: 5570: 5535: 5476: 5310: 5275: 5251: 5216: 5194: 5068: 4727: 4719: 4665: 4579: 4562: 4263: 4086: 3914: 3245: 3195: 2832: 2762: 2701: 2684:

argued that whilst humans have always been subjected to a level of risk – such as

1478: 1456: 1434: 1412: 1390: 1271: 1047: 987: 920:

Techniques encouraging imaginative thinking about possibilities of the future, such as

860:

to evaluate the significance of particular combinations of probability and consequence.

602: 581: 507: 255: 153:

gives a simple summary, defining risk as "the possibility of something bad happening".

6351: 5904:

Health and the Savings of Insured versus Uninsured, Working-Age Households in the U.S.

4811:

Risk and Culture: An Essay on the Selection of Technological and Environmental Dangers

3959:

A Guide to the Project Management Body of Knowledge (4th Edition) ANSI/PMI 99-001-2008

2311:

is a fundamental problem with all forms of risk assessment. In particular, because of

520:, and shapes policy decisions by identifying risk factors for disease and targets for 8201: 8160: 8155: 8087: 7905: 7860: 7847: 7802: 7539: 7409: 7301: 7265: 7255: 7216: 7206: 7134: 7124: 7054: 6666: 6656: 6606: 6602: 6569: 6565: 6470: 6445: 6355: 6304: 6293: 6282: 6264: 6229: 6210: 6191: 6184: 6168: 6143: 5953: 5938: 5882: 5857: 5802: 5596: 5574: 5527: 5468: 5429: 5356: 5315: 5256: 5186: 5143: 5060: 5002: 4657: 4584: 4357:. Presidential/Congressional Commission on Risk Assessment and Risk Management. 1997. 4267: 4259: 4090: 4049: 3812: 3732: 3350: 3255: 3114: 3103: 3063: 2985: 2884: 2828:

Earth Shock: Hurricanes, volcanoes, earthquakes, tornadoes and other forces of nature

2685: 2564: 2524: 2480: 2335: 2267: 2262: 998: 921: 631:

in which the buyer pays a small premium to be protected from a potential large loss.

606: 577: 173: 6618: 6581: 6511: 6482: 6403: 6367: 6037: 5701: 5030: 8165: 8140: 8029: 7880: 7807: 7652: 7607: 7552: 7544: 7534: 7311: 7235: 7075: 7049: 7034: 6941: 6759: 6741: 6598: 6561: 6540: 6462: 6433: 6391: 6347: 6335: 6292:

Novak S.Y. Extreme value methods with applications to finance. London: CRC. (2011)

6256: 6025: 5975: 5926: 5825: 5790: 5697: 5670: 5643: 5605: 5562: 5539: 5519: 5480: 5460: 5421: 5352: 5305: 5295: 5246: 5236: 5178: 5135: 5106: 5098: 5072: 5050: 5042: 4994: 4914: 4731: 4711: 4669: 4649: 4574: 4491: 4255: 4078: 3910: 3845: 3163: 2593:

institution walls, now it's too often our risk management practices", according to

2581: 2331: 2202: 2196: 1584: 1292:

These are the answers to the three fundamental questions asked by a risk analysis:

899:

Evidence-based methods, such as literature reviews and analysis of historical data.

628: 426: 6544: 4653: 3083:

Risk and Culture: An essay on the selection of technical and environmental dangers

137:

from 1655. While including several other definitions, the OED 3rd edition defines

8024: 8011: 7989: 7974: 7885: 7797: 7664: 7627: 7603: 7404: 7399: 7379: 7338: 7333: 7280: 7275: 7139: 7119: 6996: 6961: 6634: 5300: 5241: 5198: 4760:

Slovic, Paul; Fischhoff, Baruch; Lichtenstein, Sarah (1979). "Rating the Risks".

3370: 3275: 3091: 2941: 2899: 2860: 2677: 2442:

Another distinction between risk and uncertainty is proposed by Douglas Hubbard:

2298: 2290: 2284: 2280: 2069: 2051: 1811: 835: 755: 532: 480: 333: 233: 6376: 6375:

Cokely, E. T.; Galesic, M.; Schulz, E.; Ghazal, S.; Garcia-Retamero, R. (2012).

5555:"Risk Assessment Under Perceptual Ambiguity and its impact on category learning" 5523: 5505:"On the other hand, am I rational? Hemisphere activation and the framing effect" 5139: 3521: 593:(IT) is the use of computers to store, retrieve, transmit, and manipulate data. 8170: 7697: 7570: 7419: 7102: 6966: 6860: 6806: 6104: 5674: 5425: 4159:"Environmental Risk Analysis: Problems and Perspectives in Different Countries" 3864: 3265: 2970: 2350: 2018: 1986: 1807: 1742: 1580: 422: 410: 401: 323: 229: 6395: 6029: 5979: 5102: 3850: 3834:"Contributions to the Theory of Statistical Estimation and Testing Hypotheses" 3833: 3139:

The Challenger Launch Decision: Risky Technology, Culture and Deviance at NASA

2914:

Michael J.S. Belton, Thomas H. Morgan, Nalin H. Samarasinha, Donald K. Yeomans

8263: 8257: 8180: 8110: 8067: 8034: 8019: 7837: 7792: 7373: 7294: 7242: 7181: 7019: 6885: 6670: 6437: 6156:

A Philosophical Introduction to the Theory of Risk Evaluation and Measurement

6133: 6125: 5212: 5046: 4223:"Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor" 3390: 3385: 3355: 3335: 3320: 3295: 3260: 3250: 3143: 2777: 2697: 2693: 2520: 2354: 2320: 2316: 2302: 2238: 2111: 2034: 1731: 1727: 1723: 1568: 1505: 1307: 1040: 1016: 928: 688: 528: 517: 466: 455: 433: 274: 5566: 5182: 4998: 3901:

Kaplan, S.; Garrick, B.J. (1981). "On the Quantitative Definition of Risk".

483:

to offset risks by adopting a position in an opposing market or investment.

258:, which sees risk as the combination of events and uncertainties about them. 7969: 7947: 7942: 7932: 7622: 7434: 7429: 7389: 7350: 6474: 6359: 5531: 5472: 5433: 5319: 5260: 5190: 5147: 5064: 4919:

10.1002/(SICI)1099-0771(200001/03)13:1<1::AID-BDM333>3.0.CO;2-S

4894: 4661: 4588: 3345: 3159: 3087: 2868: 2706: 2606: 2424: 2327: 2271:

Looking forward, it may greatly increase the perceived risk from a hazard.

1738: 561: 513: 454:(or standard deviation) of asset prices. More recent risk measures include 109: 62: 7817: 6684: 6610: 6573: 6303:

Hopkin P. Fundamentals of Risk Management. 2nd Edition. Kogan-Page (2012)

5794: 5006: 4450: 3657: 2953:

Natural Hazards: Earth's processes as hazards, disasters, and catastrophes

692:

Harbor sign warning visitors that use of the walkway is "at your own risk"

7937: 7832: 7657: 7612: 7285: 7070: 6260: 5661:

Holt, C. A.; Laury, S. K. (2002). "Risk aversion and incentive effects".

3179: 2864: 2746: 2681: 1977:

Risks of discrete events such as accidents are often measured as outcome

1320:

An updated version recommends the following general description of risk:

1314: 1093: 1032:

benefits. Risk criteria are intended to guide decisions on these issues.

857: 734:

is freedom from, or resilience against, potential harm caused by others.

462: 418: 414: 241: 237: 57: 41: 5876: 2843:

Human System Response to Disaster: An Inventory of Sociological Findings

2326:

For instance, an extremely disturbing event (an attack by hijacking, or

1080:), taking into account the costs and benefits of further risk reduction. 1053:

Criteria that decide between different risk management options, such as

807:

Risk treatment - selecting and implementing options for addressing risk.

129:(OED) cites the earliest use of the word in English (in the spelling of 108:, provides principles and general guidelines on managing risks faced by 37: 7979: 7852: 7556: 7548: 7424: 7345: 7306: 7250: 6503:, 60 (6), 19–25. A paper exploring the foundations of risk. (PDF file). 6466: 6112: 5930: 4723: 4082: 3883:

An Assessment of Accident Risks in U.S. Commercial Nuclear Power Plants

3325: 2358: 2357:, and notational bias: No group of people assessing risk is immune to " 1815: 847:

Risk assessment can be qualitative, semi-quantitative or quantitative:

491: 232:

of loss was used to define risk by Wald (1939) in what is now known as

5879:

The (mis)Behaviour of Markets: A Fractal View of Risk, Ruin and Reward

5111: 4409:

Risk: Improving government's capability to handle risk and uncertainty

3971:

Risk: Improving government's capability to handle risk and uncertainty

2580:

and closer to the vehicle in front when the vehicles were fitted with

7598: 7414: 7384: 7355: 6724: 5854:

How to Measure Anything: Finding the Value of Intangibles in Business

4326: 2689: 2289:

One of the growing areas of focus in risk management is the field of

2014: 1978: 1814:, which cannot be eliminated by portfolio diversification. It is the 1046:

Criteria that determine whether further controls are needed, such as

885: 841: 776: 720: 704: 624: 557: 363: 337: 105: 93: 73: 5647: 4715: 4530:. Centre of Marine and Petroleum Technology. 1999. pp. 136–145. 4474:

Harmonised Risk Acceptance Criteria for Transport of Dangerous Goods

2616: 1313:

The scenarios can be plotted in a consequence/likelihood matrix (or

1083:

Broadly acceptable risks – not normally requiring further reduction.

133:

from its French original, 'risque') as of 1621, and the spelling as

7954: 7322: 6424:

Drake, R. A. (1985). "Lateral asymmetry of risky recommendations".

6089: 5829: 2577: 2572: 1771: 892:

There are many different methods for identifying risks, including:

731: 451: 101: 69: 5632:"Risk Aversion and Expected-Utility Theory: A Calibration Theorem" 4527:

A Guide to Quantitative Risk Assessment for Offshore Installations

3750:"The History of Insurance: Risk, Uncertainty and Entrepreneurship" 2021:. Health risks, which vary widely with age, may be expressed as a 896:

Checklists or taxonomies based on past data or theoretical models.

7260: 7196: 6078:

The Science of Conjecture: Evidence and Probability Before Pascal

5736:"Gender Differences in Risk Aversion: A Developing Nation's Case" 5088: 4355:

Risk Assessment and Risk Management in Regulatory Decision-Making

4304:

A guide to the project management body of knowledge (PMBOK guide)

3809:

The Failure of Risk Management: Why It's Broken and How to Fix It

3659:

ISO/IEC Guide 73:2002 — Risk management — Vocabulary — Guidelines

3637:

Note 2: A threat to one party may pose an opportunity to another.

2936:

Natural Hazard Mitigation: Recasting disaster policy and planning

2217: 1759: 1073:

Unacceptable risks – only permitted in exceptional circumstances.

700: 672: 594: 573: 503: 406: 156: 81: 65:

definition of risk is the "effect of uncertainty on objectives".

6245:

Catalogue of risks – Natural, Technical, Social and Health Risks

4306:(5th ed.). Project Management Institute. 2013. p. 309. 3602:

Note 1: An objective can be strategic, tactical or operational.

6915: 3631:

potential source of danger, harm, or other undesirable outcome

2568: 1076:

Tolerable risks – to be kept as low as reasonably practicable (

696: 601:

may exploit a vulnerability to breach security and cause harm.

598: 200: 97: 89: 5954:"A positive approach to risk requires person-centred thinking" 5554: 4069:

Fischhoff, B; Watson, S.R.; Hope, C. (1984). "Defining Risk".

3102:

Socially Responsible Engineering: Justice in Risk Management (

2773:

At risk: Natural hazards, people's vulnerability and disasters

7575: 5091:

Journal of Experimental Psychology: Human Learning and Memory

4451:"IEC 31010:2019 Risk management — Risk assessment techniques" 2499:, and is therefore relatively predictable. Wild risk follows 2213: 1077: 932: 487: 413:

arises from uncertainty about financial returns. It includes

56:

is the possibility of something bad happening. Risk involves

6693: 2696:

process itself. Giddens defines these two types of risks as

2165:

cultural biases are strongly predictive of risk perception.

4759: 3698:

The Stanford Encyclopedia of Philosophy (Fall 2018 Edition)

3584:

ISO 31073:2022 — Risk management — Vocabulary — uncertainty

2305:(preferring the status quo in case one becomes worse off). 2224: 1774:(or standard deviation) of asset prices. The risk is then: 45: 6493:(Summer 2007 Edition), Edward N. Zalta (ed.), forthcoming 6455:

Australasian Physical and Engineering Sciences in Medicine

3036:

Regions of Risk: A geographical introduction to disasters

2427:

established the distinction between risk and uncertainty.

605:

applies risk management methods to IT to manage IT risks.

6374: 3616:

ISO 31073:2022 — Risk management — Vocabulary — objective

3126:

Swimming with Crocodiles: The Culture of Extreme Drinking

2879:

Mapping Vulnerability: disasters, development, and people

1741:. A risk-neutral person's utility is proportional to the 965:

Understanding interactions and dependencies between risks

6333: 6009:

Fischer, Michael Daniel; Ferlie, Ewan (1 January 2013).

5374:(2nd ed.). Cambridge University Press. p. 139. 4966:(2nd ed.). Cambridge University Press. p. 138. 4951:(2nd ed.). Cambridge University Press. p. 132. 4936:(2nd ed.). Cambridge University Press. p. 125. 4869:(2nd ed.). Cambridge University Press. p. 142. 4397:. Standards Australia & Standards New Zealand. 1999. 4046:

A Practical Introduction to Security and Risk Management

2514: 2334:

often affect even the most rigorous applications of the

1065:

The tolerability of risk framework, developed by the UK

546: 446:

determines the aggregate risk in a financial portfolio.

409:

is concerned with money management and acquiring funds.

6207:

Practical Project Risk Management: The Atom Methodology

5916: 5384:

Virine, L., & Trumper, M. ProjectThink. Gower. 2013

5160: 4854:(2nd ed.). Cambridge University Press. p. 82. 4621:(2nd ed.). Cambridge University Press. p. 35. 3989:"Threat, vulnerability, risk – commonly mixed up terms" 3010:

Practical Project Risk Management: The ATOM Methodology

2004:

Frequencies of environmental damage such as oil spills.

1595:. The associated formula for calculating risk is then: 1306:

Risks expressed in this way can be shown in a table or

6162: 6083: 5211: 5084: 5082: 4606:(2nd ed.). Cambridge University Press. p. 2. 4146:. US Environmental Protection Agency. 3 December 2013. 4012:"The Merging of Risk Analysis and Adventure Education" 3933:

Quantitative Risk Assessment – The Scientific Platform

3643:

ISO 31073:2022 — Risk management — Vocabulary — threat

2997:

Planning for Earthquakes: Risks, politics, and policy

1288:

is the number of scenarios chosen to describe the risk

801: 609:

is the protection of IT systems by managing IT risks.

6090:"Trust Us and Be Scared: The Changing Nature of Risk" 5687: 5411: 5273: 4235: 3896: 3894: 3892: 2806:

Barbara W. Murck, Brian J. Skinner, Stephen C. Porter

1835: 1783: 1661: 1604: 1521: 1495:

is the background knowledge that U and P are based on

1481: 1459: 1437: 1415: 1393: 1329: 1274: 1245: 1216: 1187: 1113: 479:

to manage exposure to risk. It includes the use of a

6452: 6163:

Porteous, Bruce T.; Pradip Tapadar (December 2005).

5588:

Krueger, Jr., Norris; Dickson, Peter R. (May 1994).

5028: 4514:(12th ed.). New York: McGraw-Hill. p. 183. 4493:

The Tolerability of Risk from Nuclear Power Stations

3754:

Journal of the Washington Institute of China Studies

3556:

ISO 31073:2022 — Risk management — Vocabulary — risk

2966:

Normal Accidents. Living with high-risk technologies

2802:

Dangerous Earth: An introduction to geologic hazards

2173: 1023: 962:

Analysing possible consequences and their likelihood

959:

Investigating the effectiveness of existing controls

744: 6377:"Measuring risk literacy: The Berlin Numeracy Test" 6008: 5733: 5587: 5079: 4068: 3779:Markovitz, H. (March 1952). "Portfolio Selection". 1734:used to make decisions in the face of uncertainty. 956:

Determining the sources, causes and drivers of risk

6633: 6183: 6136:'s historical role as risk manager of last resort. 5761: 5714: 5589: 4550:(2nd ed.). Institution of Chemical Engineers. 4499:(2nd ed.). Health and Safety Executive. 1992. 4156: 3889: 3520: 2944:, Philip Berke, David Brower, and Edward J. Kaiser 2571:which suggests that people typically adjust their 1961: 1826:, expressed as a fraction of the market variance: 1795: 1711: 1638: 1542: 1487: 1465: 1443: 1421: 1399: 1373: 1302:If it does happen, what would the consequences be? 1280: 1258: 1229: 1200: 1166: 353:Financial risk management § Corporate finance 332:Business risks are controlled using techniques of 5877:Mandelbrot, Benoit and Richard L. Hudson (2008). 5815: 4509: 3510: 3023:Reduction and Predictability of Natural Disasters 2923:Natural Disaster Hotspots: a global risk analysis 2856:Judgment Under Uncertainty: heuristics and biases 2396:Sex differences in humans § Financial risk-taking 1104:Risk is often considered to be a set of triplets 597:(or cyber risk) arises from the potential that a 8255: 7727: 6510:, Chicago: Houghton Mifflin Company. (Cited at: 4808: 3190:What is a Disaster? New answers to old questions 1587:. The simplest case is a binary possibility of 1096:that can be used to describe or "measure" risk. 6523: 5759: 5734:Adhikari, Binay K; O'Leary, Virginia E (2011). 4825:"A short summary of grid-group cultural theory" 4631: 4130:"What is economic risk? Definition and example" 3515: 3513: 367:affect an investment or a company's prospects. 6226:Project Manager's Spotlight on Risk Management 5274:Bodemer, N.; Ruggeri, A.; Galesic, M. (2013). 4510:Brealey, R.A.; Myers, S.C.; Allen, F. (2017). 3519: 3027:John B. Rundle, William Klein, Don L. Turcotte 2758:Against the Gods: The Remarkable Story of Risk 1562:complementary cumulative distribution function 1167:{\displaystyle {\text{R}}=(s_{i},p_{i},x_{i})} 567: 163:International Organization for Standardization 157:International Organization for Standardization 7713: 6709: 5780: 5446: 5217:"The risks we dread: A social circle account" 4970: 4697: 3900: 3737:. Boston, New York, Houghton Mifflin Company. 3500:"ISO 31000:2018 Risk Management - Guidelines" 3474:ISO 31073:2022 — Risk management — Vocabulary 1999:Frequencies of property damage or total loss. 1473:is a knowledge-based probability of the event 6588: 6181: 6080:, Baltimore: Johns Hopkins University Press. 5717:Journal of Financial Counseling and Planning 2910:Mitigation of Hazardous Comets and Asteroids 2376: 2056: 1726:is defined as the expected value of a given 1512:describing the "uncertainty about outcome": 1499: 870:The specific steps vary widely in different 786:Establishing the scope, context and criteria 120: 6242: 6223: 5502: 5125: 4813:. Berkeley: University of California Press. 4700:"Availability Cascades and Risk Regulation" 4547:Nomenclature for Hazard and Risk Assessment 4445: 4443: 4441: 4439: 4437: 4435: 4433: 3688: 3686: 3684: 3467: 3465: 3463: 3461: 3459: 3457: 3410: 3408: 3406: 2645:. Unsourced material may be challenged and 1712:{\displaystyle R=\sum _{i=1}^{N}p_{i}x_{i}} 240:in 1953, a flood protection program in the 7720: 7706: 6716: 6702: 6426:Personality and Social Psychology Bulletin 6204: 6190:. AMACOM/American Management Association. 4349: 4347: 4339:Security Risk Management Body of Knowledge 3949:. Association of Project Management. 1997. 3947:Project Risk Analysis and Management Guide 3802: 3800: 3798: 3796: 3794: 3494: 3492: 3490: 3488: 3486: 3484: 3130:Marjana Martinic and Fiona Measham (eds.) 2249: 2132: 6499:Holton, Glyn A. (2004). "Defining Risk", 5969: 5660: 5369: 5346: 5309: 5299: 5250: 5240: 5110: 5054: 4961: 4946: 4931: 4908: 4864: 4849: 4616: 4601: 4578: 4539: 4537: 4249: 3849: 3778: 3431: 3429: 2780:, Terry Cannon, Ian Davis, and Ben Wisner 2665:Learn how and when to remove this message 2208: 1208:is a scenario describing a possible event 6320: 4977:Slovic, P (1987). "Perception of risk". 4809:Douglas, Mary; Wildavsky, Aaron (1982). 4749:. London: Penguin Books. pp. 10–14. 4744: 4560: 4430: 4157:Gurjar, Bhola Ram; Mohan, Manju (2002). 3681: 3454: 3403: 2957:Edward A. Keller, and Robert H. Blodgett 2714: 2475: 2105: 2075: 1043:, and evaluated by risk/reward analysis. 940:qualitative risk assessment techniques. 793: 687: 48:and building collapse during their work. 36: 6491:The Stanford Encyclopedia of Philosophy 6153: 5919:Canadian Journal of Behavioural Science 5851: 5029:Gaissmaier, W.; Gigerenzer, G. (2012). 4344: 4043: 3926: 3924: 3806: 3791: 3709: 3481: 2414: 2409: 2190: 1087: 766: 151:Cambridge Advanced Learner's Dictionary 14: 8256: 6551: 6314: 6279:Risk: The Science and Politics of Fear 6067: 5465:10.1016/j.neuropsychologia.2004.04.017 4976: 4879: 4798:. London: Earthscan. pp. 137–146. 4793: 4778: 4682: 4534: 4163:Risk: Health, Safety & Environment 3730: 3672: 3426: 3214:Ali Chavoshian, and Kuniyoshi Takeuchi 3178:Nick Pidgeon, Roger E. Kasperson, and 2745:Baruch Fischhoff, Sarah Lichtenstein, 1972: 949:distinctions are not always followed. 877: 469:must promise higher expected returns. 115: 27:Possibility of something bad happening 8274:Environmental social science concepts 7701: 6697: 6423: 6410: 6018:Accounting, Organizations and Society 5951: 5910: 5763:"Male Investors vs. Female Investors" 5629: 4897:Journal of Behavioral Decision Making 4698:Kuran, Timur; Sunstein, Cass (2007). 4543: 4220: 4009: 3977:. Cabinet Office Strategy Unit. 2002. 3747: 3716:. Columbia University Press. p. 3713:Economic Theory of Risk and Insurance 3316:International Risk Governance Council 2515:Risk attitude, appetite and tolerance 2040: 1630:expected loss in case of the accident 1616:probability of the accident occurring 992:Quantitative risk assessment software 547:Health, safety, and environment risks 373: 5552: 5332: 4421: 4375:. Center for Chemical Process Safety 3930: 3921: 3831: 3541:participating institution membership 3001:Philip R. Berke, and Timothy Beatley 2643:adding citations to reliable sources 2610: 2587: 1722:In statistical decision theory, the 974:Uncertainty and sensitivity analysis 789: 641: 169:effect of uncertainty on objectives 6689:Stanford Encyclopedia of Philosophy 6489:Hansson, Sven Ove. (2007). "Risk", 6109:Modern Society Shocked by its Risks 4783:. London: Earthscan. p. xxiii. 4105:"What is business risk? | McKinsey" 3991:. Threat Analysis Group. 3 May 2010 3885:. US Nuclear Regulatory Commission. 3049:Risk Analysis: a quantitative guide 2749:, Steven L. Derby, and Ralph Keeney 2168: 1055:multiple-criteria decision analysis 927:Expert-elicitation methods such as 871: 228:"Statistically expected loss". The 24: 6755:Accidental death and dismemberment 6334:Clark, L.; Manes, F.; Antoun, N.; 5852:Hubbard, Douglas (17 March 2014). 5610:10.1111/j.1540-5915.1994.tb00810.x 4327:https://doi.org/10.3390/su11102863 4010:Cline, Preston B. (3 March 2015). 3915:10.1111/j.1539-6924.1981.tb01350.x 3206:Floods: From Risk to Opportunity ( 2388: 2274: 2045: 1936: 1933: 1930: 1894: 1891: 1888: 1574: 1508:), the risk can be expressed as a 1266:is the consequence of the scenario 1237:is the probability of the scenario 1069:, divides risks into three bands: 829: 797: 749: 25: 8285: 6678: 6648:Concise Encyclopedia of Economics 6524:Metzner-Szigeth, Andreas (2009). 5958:Tizard Learning Disability Review 5902:Federal Reserve Bank of Chicago, 5503:McElroy, T.; Seta, J. J. (2004). 4687:. London: Earthscan. p. 107. 4238:The Journal of Risk and Insurance 3838:Annals of Mathematical Statistics 3807:Hubbard, Douglas (4 March 2020). 2347:decision-making under uncertainty 2174:The importance of emotion in risk 2008: 1451:is an assessment of uncertainties 1024:Risk evaluation and risk criteria 745:Assessment and management of risk 663:use the ISO Guide 73 definition. 619: 395: 308: 8211: 8210: 8200: 7816: 6881:Directors and officers liability 6653:Library of Economics and Liberty 6002: 5993: 5945: 5895: 5870: 5845: 5836: 5447:Volberg, G.; Hubner, R. (2004). 4395:AS/NZS 4360:1999 Risk Management 4337:Julian Talbot and Miles Jakeman 4260:10.1111/j.1539-6975.2008.00289.x 4187: 3174:The Social Amplification of Risk 2883:Greg Bankoff, Georg Frerks, and 2615: 2394:This section is an excerpt from 2028: 1555:cumulative distribution function 1553:This can also be expressed as a 1429:is the consequences of the event 971:Verifying and validating results 943: 726: 461:Because investors are generally 358: 317: 7985:Science, technology and society 6062: 5809: 5774: 5753: 5727: 5708: 5702:10.1016/j.cognition.2024.105837 5681: 5654: 5623: 5581: 5546: 5496: 5487: 5440: 5405: 5396: 5387: 5378: 5363: 5326: 5267: 5205: 5154: 5119: 5022: 5013: 4955: 4940: 4925: 4888: 4873: 4858: 4843: 4817: 4802: 4787: 4772: 4753: 4738: 4691: 4676: 4625: 4610: 4595: 4554: 4518: 4512:Principles of Corporate Finance 4503: 4484: 4465: 4415: 4401: 4387: 4361: 4331: 4319: 4310: 4296: 4274: 4229: 4214: 4196: 4181: 4136: 4122: 4097: 4062: 4037: 4003: 3981: 3962: 3953: 3939: 3874: 3858: 3825: 3772: 3741: 3724: 3703: 3666: 3650: 2600: 2338:and are a major concern of the 1374:{\displaystyle R=({A,C,U,P,K})} 699:is concerned with a variety of 666: 378:Environmental risk arises from 6651:(2nd ed.). Indianapolis: 6413:Contemporary Social Psychology 6158:. University Press of America. 5760:Georgette Jasen (3 May 2015). 5553:Cerf, Moran (4 October 2022). 5056:11858/00-001M-0000-0024-EF79-3 4563:"The Evolution of Risk-Taking" 4341:, John Wiley & Sons, 2009. 3880: 3623: 3591: 3563: 3547: 1953: 1940: 1924: 1898: 1633: 1625: 1619: 1611: 1579:Risk is often measured as the 1537: 1531: 1368: 1336: 1161: 1122: 1013:absolute probability judgement 683: 659:experienced in the workplace. 653:Occupational health and safety 648:Occupational safety and health 497: 440:, which cannot be quantified. 13: 1: 6723: 6545:10.1016/j.futures.2008.09.017 6352:10.1016/s0028-3932(03)00081-2 5783:Journal of Marketing Research 5215:; Garcia-Retamero, R (2012). 4654:10.1126/science.185.4157.1124 3935:. Cambridge University Press. 3748:Masci, Pietro (Spring 2011). 3397: 3238: 3014:David Hillson and Peter Simon 2692:, that are the result of the 2421:Risk, Uncertainty, and Profit 2231: 1753: 717:probabilistic risk assessment 713:high reliability organisation 7729:Environmental social science 7648:Savings and loan association 6603:10.1016/0028-3932(85)90023-5 6566:10.1016/0028-3932(85)90022-3 6508:Risk, Uncertainty and Profit 6384:Judgment and Decision Making 5818:Journal of Consumer Research 5357:10.1016/0162-3095(95)00103-4 5301:10.1371/journal.pone.0066544 5242:10.1371/journal.pone.0032837 4480:. European Commission. 2014. 3734:Risk, Uncertainty and Profit 1818:between the asset's return r 1510:probability density function 1407:is an event that might occur 986:Theoretical models, such as 968:Determining measures of risk 783:Communicating and consulting 564:, impacts on wildlife, etc. 7: 7768:Environmental communication 7081:Insurance-linked securities 6281:, Random House Inc. (2008) 5743:Journal of Personal Finance 5524:10.1016/j.bandc.2004.04.002 5140:10.1037/0033-295x.108.3.483 4208:Farlex Financial Dictionary 3442:. Society for Risk Analysis 1299:How likely is it to happen? 1099: 1067:Health and Safety Executive 1035:Types of criteria include: 952:Risk analysis may include: 760:Operational risk management 568:Information technology risk 465:, investments with greater 347: 10: 8290: 7753:Environmental anthropology 6770:Total permanent disability 6637:; Wildavsky, Adam (2008). 6501:Financial Analysts Journal 6154:Rescher, Nicholas (1983). 5675:10.1257/000282802762024700 5426:10.1037/0894-4105.18.2.340 5370:Breakwell, Glynis (2014). 4962:Breakwell, Glynis (2014). 4947:Breakwell, Glynis (2014). 4932:Breakwell, Glynis (2014). 4865:Breakwell, Glynis (2014). 4850:Breakwell, Glynis (2014). 4617:Breakwell, Glynis (2014). 4602:Breakwell, Glynis (2014). 4019:Wilderness Risk Management 3311:Inherent risk (accounting) 3286:Fuel price risk management 3154:The Environment as Hazard 2604: 2518: 2453:Measurement of uncertainty 2393: 2278: 2260: 2256: 2194: 2136: 2049: 1011:Expert judgement, such as 833: 826:and crises on the other". 753: 645: 571: 399: 342:Enterprise risk management 321: 29: 8196: 8045: 7825: 7814: 7735: 7673: 7525: 7510:Health insurance coverage 7450: 7234: 7063: 7005: 6934: 6853: 6805: 6775:Business overhead expense 6740: 6731: 6396:10.1017/S1930297500001819 6030:10.1016/j.aos.2012.11.002 5980:10.1108/13595474200900034 5952:Neill, M (October 2009). 5881:. London: Profile Books. 5856:. John Wiley & Sons. 5103:10.1037/0278-7393.4.6.551 4745:Kahneman, Daniel (2011). 3811:. John Wiley & Sons. 3528:Oxford English Dictionary 2489:probability distributions 2419:In his seminal 1921 work 2377:Psychology of risk taking 2125:Number of people exposed. 2057:Intuitive risk assessment 1796:{\displaystyle R=\sigma } 1500:Probability distributions 1092:There are many different 473:Financial risk management 302:Society for Risk Analysis 127:Oxford English Dictionary 121:Oxford English Dictionary 7783:Environmental psychology 6911:Protection and indemnity 6438:10.1177/0146167285114007 6118: 5663:American Economic Review 5455:(Submitted manuscript). 5047:10.1177/0956797612447804 3366:Risk analysis (business) 3291:Global catastrophic risk 2721:list of books about risk 2501:fat-tailed distributions 1770:measures risk using the 997:Logical models, such as 810:Monitoring and reviewing 502:Health risks arise from 450:measures risk using the 193: 44:are exposed to risks of 7788:Environmental sociology 7763:Environmental economics 7743:Ecological anthropology 7368:Explanation of benefits 6840:Variable universal life 6518:Evolutionary Psychology 6209:. Management Concepts. 5768:The Wall Street Journal 5630:Rabin, Matthew (2000). 5183:10.1126/science.1199071 4999:10.1126/science.3563507 4747:Thinking, Fast and Slow 4411:. Cabinet Office. 2002. 4373:Process Safety Glossary 4282:"Glossary and acronyms" 4144:"About risk assessment" 4132:. Market Business News. 4044:Newsome, Bruce (2013). 3869:Before the levees break 3851:10.1214/aoms/1177732144 3710:Willett, Allan (1901). 3700:, Edward N. Zalta (ed.) 3673:Blount, Thomas (1661). 3533:Oxford University Press 3361:Reliability engineering 3281:Event chain methodology 3117:, and P. Aarne Vesilind 3062:Risk: An introduction ( 2815:Disasters and Democracy 2509:power-law distributions 2139:Cultural theory of risk 2133:Cultural theory of risk 2023:loss of life expectancy 1822:and the market return r 1768:Modern portfolio theory 818:legal considerations". 813:Recording and reporting 678:Project risk management 448:Modern portfolio theory 444:Financial risk modeling 7778:Environmental politics 7505:Health insurance costs 6906:Professional liability 6167:. Palgrave Macmillan. 5372:The Psychology of Risk 4964:The Psychology of Risk 4949:The Psychology of Risk 4934:The Psychology of Risk 4867:The Psychology of Risk 4852:The Psychology of Risk 4796:The Perception of Risk 4781:The Perception of Risk 4685:The Perception of Risk 4619:The Psychology of Risk 4604:The Psychology of Risk 4561:Dugatkin, Lee (2013). 4424:Fundamental Techniques 3781:The Journal of Finance 3731:Knight, Frank (1921). 3639: 3612: 3599:result to be achieved 3580: 3341:Preventive maintenance 3228:Deborah Perry Piscione 2493:regression to the mean 2433: 2209:Fear, anxiety and risk 2089:availability heuristic 1963: 1797: 1713: 1688: 1640: 1544: 1543:{\displaystyle R=p(x)} 1489: 1467: 1445: 1423: 1401: 1375: 1282: 1260: 1231: 1202: 1168: 988:Monte Carlo simulation 693: 591:Information technology 541:health risk assessment 298: 184: 147: 86:information technology 63:international standard 49: 7873:Ecological humanities 7773:Environmental history 7361:Out-of-pocket expense 7222:Workers' compensation 6876:Collateral protection 6866:Business interruption 6506:Knight, F. H. (1921) 6182:Tom Kendrick (2003). 5795:10.1509/jmkr.48.4.741 5567:10.31234/osf.io/uyn4q 5035:Psychological Science 4880:Slovic, Paul (2010). 4794:Slovic, Paul (2000). 4779:Slovic, Paul (2000). 4683:Slovic, Paul (2000). 4544:Jones, David (1992). 4221:Scott, David (2003). 4048:. SAGE Publications. 3629: 3597: 3569: 3306:Information assurance 3271:Early case assessment 3194:Ronald W. Perry, and 2988:, and Richard J. Roth 2715:List of related books 2476:Mild Versus Wild Risk 2437:Knightian uncertainty 2429: 2363:conflicts of interest 2340:philosophy of science 2250:psychometric paradigm 2184:behavioural economics 2106:Psychometric paradigm 2076:Heuristics and biases 1964: 1798: 1730:as a function of the 1714: 1668: 1641: 1545: 1490: 1468: 1446: 1424: 1402: 1376: 1283: 1261: 1259:{\displaystyle x_{i}} 1232: 1230:{\displaystyle p_{i}} 1203: 1201:{\displaystyle s_{i}} 1169: 691: 554:environmental impacts 522:preventive healthcare 477:financial instruments 438:Knightian uncertainty 380:environmental hazards 293: 167: 143: 40: 32:Risk (disambiguation) 7965:Integrated geography 7843:Behavioral geography 7748:Ecological economics 7584:Corpus Juris Civilis 6261:10.1029/2009EO020009 6243:Dirk Proske (2008). 6224:Kim Heldman (2005). 4422:Lyon, Bruce (2016). 3931:Aven, Terje (2011). 3420:Cambridge Dictionary 3381:Risk-neutral measure 3331:Life-critical system 2639:improve this section 2497:law of large numbers 2415:Risk and uncertainty 2410:Other considerations 2243:11 September attacks 2191:The affect heuristic 2187:many shared biases. 2096:availability cascade 1833: 1781: 1659: 1602: 1557:(CDF) (or S curve). 1519: 1479: 1457: 1435: 1413: 1391: 1327: 1272: 1243: 1214: 1185: 1111: 1088:Descriptions of risk 657:occupational hazards 613:Information security 586:Information security 384:environmental issues 30:For other uses, see 8236:Research institutes 7758:Environmental crime 7643:Rochdale Principles 7638:Mutual savings bank 7633:Mutual organization 7618:Cooperative banking 7535:Mesopotamian banker 6815:Longevity insurance 6687:– The entry of the 6315:Articles and papers 6253:2009EOSTr..90...18E 6205:Hillson D. (2007). 6130:When All Else Fails 6068:Referred literature 5512:Brain and Cognition 5292:2013PLoSO...866544B 5233:2012PLoSO...732837G 5175:2011Sci...331.1286H 5169:(6022): 1286–1289. 4991:1987Sci...236..280S 4882:The Feeling of Risk 4704:Stanford Law Review 4646:1974Sci...185.1124T 4640:(4157): 1124–1131. 3692:Hansson, Sven Ove, 3531:(Online ed.). 3376:Risk transformation 3301:Identity resolution 2819:Rutherford H. Platt 2465:Measurement of risk 2313:bounded rationality 1973:Outcome frequencies 1878: 1007:event tree analysis 1003:fault tree analysis 878:Risk identification 794:risk identification 703:that may result in 273:"Asset, threat and 116:Definitions of risk 8206:Environment portal 7960:Industrial ecology 7395:Insurable interest 6896:Payment protection 6797:Payment protection 6643:David R. Henderson 6467:10.1007/bf03178705 5931:10.1037/cbs0000153 4190:"What is Finance?" 4083:10.1007/BF00146924 3881:Rasmussen (1975). 3246:Ambiguity aversion 3196:Enrico Quarantelli 2833:W. Andrew Robinson 2763:Peter L. Bernstein 2702:manufactured risks 2041:Psychology of risk 1959: 1864: 1793: 1709: 1636: 1540: 1485: 1463: 1441: 1419: 1397: 1371: 1278: 1256: 1227: 1198: 1174:for i = 1,2,....,N 1164: 1048:benefit-cost ratio 767:psychology of risk 694: 655:is concerned with 603:IT risk management 582:IT risk management 527:In the context of 508:biological hazards 374:Environmental risk 50: 8269:Actuarial science 8249: 8248: 8088:Green criminology 7848:Community studies 7803:Political ecology 7695: 7694: 7540:Code of Hammurabi 7515:Vehicle insurance 7410:Replacement value 7302:Actual cash value 7266:Adverse selection 7256:Actuarial science 7230: 7229: 7162:Kidnap and ransom 7135:Extended warranty 6782:Income protection 6662:978-0-86597-665-8 6639:"Risk and Safety" 6346:(11): 1474–1483. 6309:978-0-7494-6539-1 6298:978-1-43983-574-6 6270:978-3-540-79554-4 6235:978-0-7821-4411-6 6216:978-1-56726-202-5 6197:978-0-8144-0761-5 6174:978-1-4039-3608-0 5888:978-1-84668-262-9 5597:Decision Sciences 5459:(13): 1805–1813. 5041:(12): 1449–1454. 4985:(4799): 280–285. 4369:"Risk management" 3539:(Subscription or 3351:Reputational risk 3256:Benefit shortfall 3236: 3235: 3210:Red Book Series) 3115:Daniel A. Vallero 3108:978-0-471-78707-5 3068:978-0-415-49089-4 2986:Howard Kunreuther 2940:David Godschalk, 2885:Dorothea Hilhorst 2686:natural disasters 2675: 2674: 2667: 2588:Risk and autonomy 2565:Risk compensation 2525:Risk compensation 2481:Benoit Mandelbrot 2336:scientific method 2263:Outrage (emotion) 1957: 1879: 1631: 1617: 1488:{\displaystyle K} 1466:{\displaystyle P} 1444:{\displaystyle U} 1422:{\displaystyle C} 1400:{\displaystyle A} 1281:{\displaystyle N} 1117: 999:Bayesian networks 931:, interviews and 922:scenario analysis 642:Occupational risk 607:Computer security 578:Computer security 556:. Events such as 256:Bayesian analysis 52:In simple terms, 16:(Redirected from 8281: 8214: 8213: 8204: 8136:natural resource 7820: 7808:Regional science 7722: 7715: 7708: 7699: 7698: 7653:Social insurance 7608:Friendly society 7500:Health insurance 7328:Short rate table 7076:Catastrophe bond 6977:Lenders mortgage 6738: 6737: 6718: 6711: 6704: 6695: 6694: 6674: 6635:Wildavsky, Aaron 6622: 6591:Neuropsychologia 6585: 6554:Neuropsychologia 6548: 6530: 6486: 6449: 6420: 6407: 6381: 6371: 6340:Neuropsychologia 6330: 6274: 6239: 6220: 6201: 6189: 6178: 6159: 6141:Against the Gods 6139:Bernstein P. L. 6113:HKU Scholars HUB 6101: 6057: 6056: 6054: 6052: 6046: 6040:. 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July 2019 4447: 4428: 4427: 4419: 4413: 4412: 4405: 4399: 4398: 4391: 4385: 4384: 4382: 4380: 4365: 4359: 4358: 4351: 4342: 4335: 4329: 4323: 4317: 4314: 4308: 4307: 4300: 4294: 4293: 4291: 4289: 4278: 4272: 4271: 4253: 4233: 4227: 4226: 4218: 4212: 4211: 4200: 4194: 4193: 4185: 4179: 4178: 4176: 4174: 4154: 4148: 4147: 4140: 4134: 4133: 4126: 4120: 4119: 4117: 4115: 4109:www.mckinsey.com 4101: 4095: 4094: 4066: 4060: 4059: 4041: 4035: 4034: 4032: 4030: 4016: 4007: 4001: 4000: 3998: 3996: 3985: 3979: 3978: 3976: 3966: 3960: 3957: 3951: 3950: 3943: 3937: 3936: 3928: 3919: 3918: 3898: 3887: 3886: 3878: 3872: 3862: 3856: 3855: 3853: 3832:Wald, A (1939). 3829: 3823: 3822: 3804: 3789: 3788: 3776: 3770: 3769: 3767: 3765: 3745: 3739: 3738: 3728: 3722: 3721: 3707: 3701: 3690: 3679: 3678: 3670: 3664: 3663: 3654: 3648: 3647: 3627: 3621: 3620: 3595: 3589: 3588: 3567: 3561: 3560: 3551: 3545: 3544: 3536: 3524: 3517: 3508: 3507: 3496: 3479: 3478: 3469: 3452: 3451: 3449: 3447: 3441: 3433: 3424: 3423: 3412: 3164:Gilbert F. White 2847:Thomas E. Drabek 2793:Urbano Fra Paleo 2726: 2725: 2670: 2663: 2659: 2656: 2650: 2619: 2611: 2582:anti-lock brakes 2491:, is subject to 2332:wishful thinking 2203:affect heuristic 2197:Affect heuristic 2169:Risk and emotion 1968: 1966: 1965: 1960: 1958: 1956: 1952: 1951: 1939: 1927: 1923: 1922: 1910: 1909: 1897: 1885: 1880: 1877: 1872: 1863: 1862: 1850: 1845: 1844: 1808:beta coefficient 1802: 1800: 1799: 1794: 1748:Pascal's mugging 1718: 1716: 1715: 1710: 1708: 1707: 1698: 1697: 1687: 1682: 1645: 1643: 1642: 1637: 1632: 1629: 1618: 1615: 1585:expected utility 1549: 1547: 1546: 1541: 1494: 1492: 1491: 1486: 1472: 1470: 1469: 1464: 1450: 1448: 1447: 1442: 1428: 1426: 1425: 1420: 1406: 1404: 1403: 1398: 1380: 1378: 1377: 1372: 1367: 1296:What can happen? 1287: 1285: 1284: 1279: 1265: 1263: 1262: 1257: 1255: 1254: 1236: 1234: 1233: 1228: 1226: 1225: 1207: 1205: 1204: 1199: 1197: 1196: 1173: 1171: 1170: 1165: 1160: 1159: 1147: 1146: 1134: 1133: 1118: 1115: 427:operational risk 21: 8289: 8288: 8284: 8283: 8282: 8280: 8279: 8278: 8254: 8253: 8250: 8245: 8192: 8041: 8012:Systems ecology 7996:Sustainability 7990:science studies 7975:Rural sociology 7821: 7812: 7798:Human geography 7731: 7726: 7696: 7691: 7669: 7665:Insurance cycle 7628:Fraternal order 7521: 7452: 7446: 7405:Proximate cause 7400:Insurance fraud 7380:General average 7339:Claims adjuster 7281:Risk management 7276:Risk assessment 7240: 7237: 7226: 7192:Prize indemnity 7059: 7007: 7001: 6930: 6891:Over-redemption 6849: 6801: 6792:National health 6733: 6727: 6722: 6681: 6663: 6528: 6379: 6336:Sahakian, B. J. 6317: 6271: 6236: 6228:. Jossey-Bass. 6217: 6198: 6175: 6121: 6070: 6065: 6060: 6050: 6048: 6044: 6013: 6007: 6003: 5998: 5994: 5984: 5982: 5971:10.1.1.604.3157 5950: 5946: 5915: 5911: 5906:, November 2009 5900: 5896: 5889: 5875: 5871: 5864: 5850: 5846: 5841: 5837: 5814: 5810: 5779: 5775: 5758: 5754: 5738: 5732: 5728: 5713: 5709: 5686: 5682: 5659: 5655: 5648:10.2307/2999450 5628: 5624: 5614: 5612: 5586: 5582: 5551: 5547: 5507: 5501: 5497: 5492: 5488: 5445: 5441: 5414:Neuropsychology 5410: 5406: 5401: 5397: 5392: 5388: 5383: 5379: 5368: 5364: 5335:Ethol Sociobiol 5331: 5327: 5272: 5268: 5210: 5206: 5159: 5155: 5124: 5120: 5087: 5080: 5027: 5023: 5018: 5014: 4975: 4971: 4960: 4956: 4945: 4941: 4930: 4926: 4910:10.1.1.390.6802 4893: 4889: 4878: 4874: 4863: 4859: 4848: 4844: 4834: 4832: 4831:. 10 March 2010 4823: 4822: 4818: 4807: 4803: 4792: 4788: 4777: 4773: 4758: 4754: 4743: 4739: 4716:10.2307/1229439 4696: 4692: 4681: 4677: 4630: 4626: 4615: 4611: 4600: 4596: 4559: 4555: 4542: 4535: 4524: 4523: 4519: 4508: 4504: 4496: 4490: 4489: 4485: 4477: 4471: 4470: 4466: 4456: 4454: 4449: 4448: 4431: 4420: 4416: 4407: 4406: 4402: 4393: 4392: 4388: 4378: 4376: 4367: 4366: 4362: 4353: 4352: 4345: 4336: 4332: 4324: 4320: 4315: 4311: 4302: 4301: 4297: 4287: 4285: 4280: 4279: 4275: 4251:10.1.1.568.4087 4234: 4230: 4219: 4215: 4202: 4201: 4197: 4192:. Investopedia. 4186: 4182: 4172: 4170: 4155: 4151: 4142: 4141: 4137: 4128: 4127: 4123: 4113: 4111: 4103: 4102: 4098: 4071:Policy Sciences 4067: 4063: 4056: 4042: 4038: 4028: 4026: 4014: 4008: 4004: 3994: 3992: 3987: 3986: 3982: 3974: 3968: 3967: 3963: 3958: 3954: 3945: 3944: 3940: 3929: 3922: 3899: 3890: 3879: 3875: 3863: 3859: 3830: 3826: 3819: 3805: 3792: 3777: 3773: 3763: 3761: 3746: 3742: 3729: 3725: 3708: 3704: 3691: 3682: 3671: 3667: 3656: 3655: 3651: 3640: 3628: 3624: 3613: 3596: 3592: 3581: 3568: 3564: 3553: 3552: 3548: 3538: 3518: 3511: 3498: 3497: 3482: 3471: 3470: 3455: 3445: 3443: 3439: 3435: 3434: 3427: 3414: 3413: 3404: 3400: 3395: 3371:Peltzman effect 3276:Enterprise risk 3241: 3092:Aaron Wildavsky 2942:Timothy Beatley 2900:Pitirim Sorokin 2861:Daniel Kahneman 2741:Acceptable Risk 2717: 2678:Anthony Giddens 2671: 2660: 2654: 2651: 2636: 2620: 2609: 2603: 2590: 2527: 2519:Main articles: 2517: 2487:or near-normal 2478: 2417: 2412: 2407: 2406: 2399: 2391: 2389:Sex differences 2385: 2379: 2299:decision theory 2291:decision theory 2287: 2285:Prospect theory 2281:Decision theory 2279:Main articles: 2277: 2275:Decision theory 2265: 2259: 2234: 2211: 2199: 2193: 2176: 2171: 2144:Cultural Theory 2141: 2135: 2108: 2078: 2070:Risk perception 2059: 2054: 2052:Risk perception 2048: 2046:Risk perception 2043: 2033:In health, the 2031: 2011: 1975: 1947: 1943: 1929: 1928: 1918: 1914: 1905: 1901: 1887: 1886: 1884: 1873: 1868: 1855: 1851: 1849: 1840: 1836: 1834: 1831: 1830: 1825: 1821: 1812:systematic risk 1782: 1779: 1778: 1756: 1703: 1699: 1693: 1689: 1683: 1672: 1660: 1657: 1656: 1628: 1614: 1603: 1600: 1599: 1577: 1575:Expected values 1520: 1517: 1516: 1502: 1480: 1477: 1476: 1458: 1455: 1454: 1436: 1433: 1432: 1414: 1411: 1410: 1392: 1389: 1388: 1339: 1328: 1325: 1324: 1273: 1270: 1269: 1250: 1246: 1244: 1241: 1240: 1221: 1217: 1215: 1212: 1211: 1192: 1188: 1186: 1183: 1182: 1155: 1151: 1142: 1138: 1129: 1125: 1114: 1112: 1109: 1108: 1102: 1090: 1026: 946: 880: 838: 836:Risk assessment 832: 830:Risk assessment 802:risk evaluation 790:Risk assessment 762: 756:Risk management 754:Main articles: 752: 750:Risk management 747: 729: 686: 669: 650: 644: 622: 588: 572:Main articles: 570: 549: 533:risk assessment 500: 404: 398: 376: 361: 350: 334:risk management 326: 320: 311: 234:decision theory 196: 190: 159: 123: 118: 35: 28: 23: 22: 15: 12: 11: 5: 8287: 8277: 8276: 8271: 8266: 8247: 8246: 8244: 8243: 8238: 8233: 8228: 8223: 8218: 8208: 8197: 8194: 8193: 8191: 8190: 8189: 8188: 8183: 8175: 8174: 8173: 8168: 8163: 8158: 8153: 8145: 8144: 8143: 8138: 8133: 8128: 8123: 8115: 8114: 8113: 8108: 8103: 8098: 8090: 8085: 8084: 8083: 8078: 8070: 8065: 8064: 8063: 8058: 8049: 8047: 8043: 8042: 8040: 8039: 8038: 8037: 8032: 8027: 8022: 8014: 8009: 8008: 8007: 8002: 7994: 7993: 7992: 7982: 7977: 7972: 7967: 7962: 7957: 7952: 7951: 7950: 7945: 7940: 7930: 7929: 7928: 7923: 7918: 7913: 7908: 7903: 7898: 7892:Environmental 7890: 7889: 7888: 7883: 7875: 7870: 7869: 7868: 7863: 7855: 7850: 7845: 7840: 7835: 7829: 7827: 7823: 7822: 7815: 7813: 7811: 7810: 7805: 7800: 7795: 7790: 7785: 7780: 7775: 7770: 7765: 7760: 7755: 7750: 7745: 7739: 7737: 7733: 7732: 7725: 7724: 7717: 7710: 7702: 7693: 7692: 7690: 7689: 7686:List of topics 7682: 7674: 7671: 7670: 7668: 7667: 7662: 7661: 7660: 7655: 7650: 7645: 7640: 7635: 7630: 7625: 7620: 7615: 7601: 7596: 7595: 7594: 7580: 7579: 7578: 7573: 7571:Burial society 7561: 7560: 7559: 7553:§235–238; §240 7545:§100–105; §126 7537: 7531: 7529: 7523: 7522: 7520: 7519: 7518: 7517: 7512: 7507: 7502: 7497: 7495:Climate change 7487: 7485:United Kingdom 7482: 7477: 7472: 7467: 7462: 7456: 7454: 7448: 7447: 7445: 7444: 7443: 7442: 7432: 7430:Underinsurance 7427: 7422: 7420:Self-insurance 7417: 7412: 7407: 7402: 7397: 7392: 7387: 7382: 7377: 7370: 7365: 7364: 7363: 7358: 7353: 7343: 7342: 7341: 7331: 7330: 7329: 7326: 7314: 7309: 7304: 7299: 7298: 7297: 7292: 7283: 7278: 7273: 7268: 7263: 7253: 7247: 7245: 7232: 7231: 7228: 7227: 7225: 7224: 7219: 7214: 7209: 7204: 7199: 7194: 7189: 7187:Political risk 7184: 7179: 7174: 7169: 7167:Legal expenses 7164: 7159: 7154: 7153: 7152: 7142: 7137: 7132: 7127: 7122: 7117: 7116: 7115: 7110: 7100: 7095: 7090: 7085: 7084: 7083: 7078: 7067: 7065: 7061: 7060: 7058: 7057: 7052: 7047: 7042: 7037: 7032: 7027: 7022: 7017: 7011: 7009: 7003: 7002: 7000: 6999: 6994: 6989: 6984: 6979: 6974: 6969: 6964: 6959: 6954: 6949: 6947:Builder's risk 6944: 6938: 6936: 6932: 6931: 6929: 6928: 6923: 6918: 6913: 6908: 6903: 6898: 6893: 6888: 6883: 6878: 6873: 6871:Business owner 6868: 6863: 6857: 6855: 6851: 6850: 6848: 6847: 6842: 6837: 6835:Universal life 6832: 6827: 6822: 6817: 6811: 6809: 6803: 6802: 6800: 6799: 6794: 6789: 6787:Long-term care 6784: 6779: 6778: 6777: 6772: 6762: 6757: 6752: 6746: 6744: 6735: 6729: 6728: 6721: 6720: 6713: 6706: 6698: 6692: 6691: 6680: 6679:External links 6677: 6676: 6675: 6661: 6631: 6623: 6597:(3): 371–379. 6586: 6560:(3): 359–369. 6549: 6539:(3): 156–170. 6521: 6514: 6504: 6497: 6487: 6461:(2): 131–139. 6450: 6432:(4): 409–417. 6421: 6408: 6372: 6331: 6316: 6313: 6312: 6311: 6301: 6290: 6275: 6269: 6240: 6234: 6221: 6215: 6202: 6196: 6179: 6173: 6160: 6151: 6137: 6120: 6117: 6116: 6115: 6105:Niklas Luhmann 6102: 6094:Global Society 6084:John Handmer; 6081: 6074:James Franklin 6069: 6066: 6064: 6061: 6059: 6058: 6047:on 5 July 2019 6001: 5992: 5944: 5925:(2): 121–130. 5909: 5894: 5887: 5869: 5862: 5844: 5835: 5830:10.1086/666737 5808: 5789:(4): 741–754. 5773: 5752: 5726: 5707: 5680: 5653: 5622: 5604:(3): 385–400. 5580: 5545: 5518:(3): 572–580. 5495: 5486: 5439: 5420:(2): 340–352. 5404: 5395: 5386: 5377: 5362: 5348:10.1.1.201.816 5325: 5266: 5204: 5153: 5134:(3): 483–522. 5118: 5097:(6): 551–578. 5078: 5021: 5012: 4969: 4954: 4939: 4924: 4887: 4872: 4857: 4842: 4816: 4801: 4786: 4771: 4752: 4737: 4710:(4): 683–768. 4690: 4675: 4624: 4609: 4594: 4553: 4533: 4517: 4502: 4483: 4464: 4429: 4414: 4400: 4386: 4360: 4343: 4330: 4318: 4309: 4295: 4273: 4244:(4): 873–891. 4228: 4213: 4195: 4188:Kurt, Daniel. 4180: 4149: 4135: 4121: 4096: 4077:(2): 123–139. 4061: 4054: 4036: 4002: 3980: 3961: 3952: 3938: 3920: 3888: 3873: 3865:Wired Magazine 3857: 3844:(4): 299–326. 3824: 3817: 3790: 3771: 3740: 3723: 3702: 3680: 3665: 3649: 3622: 3590: 3562: 3546: 3509: 3480: 3453: 3425: 3401: 3399: 3396: 3394: 3393: 3388: 3383: 3378: 3373: 3368: 3363: 3358: 3353: 3348: 3343: 3338: 3333: 3328: 3323: 3318: 3313: 3308: 3303: 3298: 3293: 3288: 3283: 3278: 3273: 3268: 3266:Countermeasure 3263: 3258: 3253: 3248: 3242: 3240: 3237: 3234: 3233: 3230: 3225: 3219: 3218: 3215: 3212: 3202: 3201: 3198: 3192: 3186: 3185: 3182: 3176: 3170: 3169: 3166: 3156: 3150: 3149: 3146: 3141: 3135: 3134: 3131: 3128: 3122: 3121: 3118: 3112: 3098: 3097: 3094: 3085: 3079: 3078: 3075: 3072: 3058: 3057: 3054: 3051: 3045: 3044: 3041: 3040:Kenneth Hewitt 3038: 3032: 3031: 3028: 3025: 3019: 3018: 3015: 3012: 3006: 3005: 3002: 2999: 2993: 2992: 2989: 2983: 2977: 2976: 2973: 2971:Charles Perrow 2968: 2962: 2961: 2958: 2955: 2949: 2948: 2945: 2938: 2932: 2931: 2928: 2925: 2919: 2918: 2915: 2912: 2906: 2905: 2902: 2897: 2891: 2890: 2887: 2881: 2875: 2874: 2871: 2858: 2852: 2851: 2848: 2845: 2839: 2838: 2835: 2830: 2824: 2823: 2820: 2817: 2811: 2810: 2807: 2804: 2798: 2797: 2794: 2791: 2785: 2784: 2781: 2775: 2769: 2768: 2765: 2760: 2754: 2753: 2750: 2743: 2737: 2736: 2733: 2730: 2716: 2713: 2698:external risks 2673: 2672: 2623: 2621: 2614: 2605:Main article: 2602: 2599: 2589: 2586: 2516: 2513: 2477: 2474: 2469: 2468: 2462: 2456: 2450: 2416: 2413: 2411: 2408: 2400: 2392: 2390: 2387: 2378: 2375: 2351:cognitive bias 2349:must consider 2317:road accidents 2276: 2273: 2261:Main article: 2258: 2255: 2239:medical errors 2233: 2230: 2210: 2207: 2195:Main article: 2192: 2189: 2175: 2172: 2170: 2167: 2162: 2161: 2158: 2155: 2152: 2137:Main article: 2134: 2131: 2127: 2126: 2123: 2120: 2107: 2104: 2077: 2074: 2058: 2055: 2050:Main article: 2047: 2044: 2042: 2039: 2030: 2027: 2019:mortality rate 2010: 2009:Mortality risk 2007: 2006: 2005: 2001: 2000: 1996: 1995: 1991: 1990: 1987:mortality rate 1974: 1971: 1970: 1969: 1955: 1950: 1946: 1942: 1938: 1935: 1932: 1926: 1921: 1917: 1913: 1908: 1904: 1900: 1896: 1893: 1890: 1883: 1876: 1871: 1867: 1861: 1858: 1854: 1848: 1843: 1839: 1823: 1819: 1804: 1803: 1792: 1789: 1786: 1755: 1752: 1743:expected value 1720: 1719: 1706: 1702: 1696: 1692: 1686: 1681: 1678: 1675: 1671: 1667: 1664: 1647: 1646: 1635: 1627: 1624: 1621: 1613: 1610: 1607: 1581:expected value 1576: 1573: 1551: 1550: 1539: 1536: 1533: 1530: 1527: 1524: 1501: 1498: 1497: 1496: 1484: 1474: 1462: 1452: 1440: 1430: 1418: 1408: 1396: 1382: 1381: 1370: 1366: 1363: 1360: 1357: 1354: 1351: 1348: 1345: 1342: 1338: 1335: 1332: 1304: 1303: 1300: 1297: 1290: 1289: 1277: 1267: 1253: 1249: 1238: 1224: 1220: 1209: 1195: 1191: 1176: 1175: 1163: 1158: 1154: 1150: 1145: 1141: 1137: 1132: 1128: 1124: 1121: 1101: 1098: 1089: 1086: 1085: 1084: 1081: 1074: 1059: 1058: 1051: 1044: 1025: 1022: 1021: 1020: 1009: 995: 984: 979:consequences: 976: 975: 972: 969: 966: 963: 960: 957: 945: 942: 937: 936: 925: 918: 915: 900: 897: 879: 876: 872:practice areas 868: 867: 862: 861: 853: 852: 834:Main article: 831: 828: 815: 814: 811: 808: 805: 787: 784: 751: 748: 746: 743: 728: 725: 685: 682: 668: 665: 646:Main article: 643: 640: 621: 620:Insurance risk 618: 569: 566: 548: 545: 499: 496: 423:liquidity risk 411:Financial risk 402:Financial risk 400:Main article: 397: 396:Financial risk 394: 375: 372: 360: 357: 349: 346: 324:Business risks 322:Main article: 319: 316: 310: 309:Practice areas 307: 289: 288: 284: 283: 279: 278: 270: 269: 265: 264: 260: 259: 251: 250: 246: 245: 230:expected value 225: 224: 220: 219: 215: 214: 210: 209: 205: 204: 195: 192: 158: 155: 122: 119: 117: 114: 26: 9: 6: 4: 3: 2: 8286: 8275: 8272: 8270: 8267: 8265: 8262: 8261: 8259: 8252: 8242: 8239: 8237: 8234: 8232: 8229: 8227: 8224: 8222: 8219: 8217: 8209: 8207: 8203: 8199: 8198: 8195: 8187: 8186:environmental 8184: 8182: 8179: 8178: 8176: 8172: 8169: 8167: 8164: 8162: 8159: 8157: 8154: 8152: 8151:environmental 8149: 8148: 8146: 8142: 8139: 8137: 8134: 8132: 8129: 8127: 8124: 8122: 8121:environmental 8119: 8118: 8116: 8112: 8109: 8107: 8104: 8102: 8099: 8097: 8096:environmental 8094: 8093: 8091: 8089: 8086: 8082: 8081:environmental 8079: 8077: 8074: 8073: 8071: 8069: 8068:Ecopsychology 8066: 8062: 8059: 8057: 8054: 8053: 8052:Architecture 8051: 8050: 8048: 8044: 8036: 8033: 8031: 8028: 8026: 8023: 8021: 8018: 8017: 8015: 8013: 8010: 8006: 8003: 8001: 7998: 7997: 7995: 7991: 7988: 7987: 7986: 7983: 7981: 7978: 7976: 7973: 7971: 7968: 7966: 7963: 7961: 7958: 7956: 7953: 7949: 7946: 7944: 7941: 7939: 7936: 7935: 7934: 7931: 7927: 7924: 7922: 7919: 7917: 7914: 7912: 7909: 7907: 7904: 7902: 7899: 7897: 7894: 7893: 7891: 7887: 7884: 7882: 7879: 7878: 7876: 7874: 7871: 7867: 7866:environmental 7864: 7862: 7859: 7858: 7856: 7854: 7851: 7849: 7846: 7844: 7841: 7839: 7838:Anthrozoology 7836: 7834: 7831: 7830: 7828: 7824: 7819: 7809: 7806: 7804: 7801: 7799: 7796: 7794: 7793:Human ecology 7791: 7789: 7786: 7784: 7781: 7779: 7776: 7774: 7771: 7769: 7766: 7764: 7761: 7759: 7756: 7754: 7751: 7749: 7746: 7744: 7741: 7740: 7738: 7734: 7730: 7723: 7718: 7716: 7711: 7709: 7704: 7703: 7700: 7688: 7687: 7683: 7681: 7680: 7676: 7675: 7672: 7666: 7663: 7659: 7656: 7654: 7651: 7649: 7646: 7644: 7641: 7639: 7636: 7634: 7631: 7629: 7626: 7624: 7621: 7619: 7616: 7614: 7611: 7610: 7609: 7605: 7602: 7600: 7597: 7593: 7592: 7588: 7587: 7586: 7585: 7581: 7577: 7574: 7572: 7569: 7568: 7567: 7566: 7562: 7558: 7554: 7550: 7546: 7543: 7542: 7541: 7538: 7536: 7533: 7532: 7530: 7528: 7524: 7516: 7513: 7511: 7508: 7506: 7503: 7501: 7498: 7496: 7493: 7492: 7491: 7490:United States 7488: 7486: 7483: 7481: 7478: 7476: 7473: 7471: 7468: 7466: 7463: 7461: 7458: 7457: 7455: 7449: 7441: 7438: 7437: 7436: 7433: 7431: 7428: 7426: 7423: 7421: 7418: 7416: 7413: 7411: 7408: 7406: 7403: 7401: 7398: 7396: 7393: 7391: 7388: 7386: 7383: 7381: 7378: 7376: 7375: 7374:Force majeure 7371: 7369: 7366: 7362: 7359: 7357: 7354: 7352: 7349: 7348: 7347: 7344: 7340: 7337: 7336: 7335: 7332: 7327: 7325: 7324: 7320: 7319: 7318: 7315: 7313: 7310: 7308: 7305: 7303: 7300: 7296: 7295:Value of life 7293: 7291: 7287: 7284: 7282: 7279: 7277: 7274: 7272: 7269: 7267: 7264: 7262: 7259: 7258: 7257: 7254: 7252: 7249: 7248: 7246: 7244: 7239: 7233: 7223: 7220: 7218: 7215: 7213: 7210: 7208: 7205: 7203: 7200: 7198: 7195: 7193: 7190: 7188: 7185: 7183: 7180: 7178: 7175: 7173: 7170: 7168: 7165: 7163: 7160: 7158: 7157:Interest rate 7155: 7151: 7148: 7147: 7146: 7143: 7141: 7138: 7136: 7133: 7131: 7128: 7126: 7123: 7121: 7118: 7114: 7111: 7109: 7106: 7105: 7104: 7101: 7099: 7096: 7094: 7091: 7089: 7086: 7082: 7079: 7077: 7074: 7073: 7072: 7069: 7068: 7066: 7062: 7056: 7053: 7051: 7048: 7046: 7043: 7041: 7038: 7036: 7033: 7031: 7028: 7026: 7025:Inland marine 7023: 7021: 7020:GAP insurance 7018: 7016: 7013: 7012: 7010: 7008:Communication 7004: 6998: 6995: 6993: 6990: 6988: 6985: 6983: 6980: 6978: 6975: 6973: 6970: 6968: 6965: 6963: 6960: 6958: 6955: 6953: 6950: 6948: 6945: 6943: 6940: 6939: 6937: 6933: 6927: 6924: 6922: 6919: 6917: 6914: 6912: 6909: 6907: 6904: 6902: 6899: 6897: 6894: 6892: 6889: 6887: 6884: 6882: 6879: 6877: 6874: 6872: 6869: 6867: 6864: 6862: 6859: 6858: 6856: 6852: 6846: 6843: 6841: 6838: 6836: 6833: 6831: 6830:Unitised fund 6828: 6826: 6823: 6821: 6820:Mortgage life 6818: 6816: 6813: 6812: 6810: 6808: 6804: 6798: 6795: 6793: 6790: 6788: 6785: 6783: 6780: 6776: 6773: 6771: 6768: 6767: 6766: 6763: 6761: 6758: 6756: 6753: 6751: 6748: 6747: 6745: 6743: 6739: 6736: 6730: 6726: 6719: 6714: 6712: 6707: 6705: 6700: 6699: 6696: 6690: 6686: 6683: 6682: 6672: 6668: 6664: 6658: 6654: 6650: 6649: 6644: 6640: 6636: 6632: 6629: 6624: 6620: 6616: 6612: 6608: 6604: 6600: 6596: 6592: 6587: 6583: 6579: 6575: 6571: 6567: 6563: 6559: 6555: 6550: 6546: 6542: 6538: 6534: 6527: 6522: 6519: 6515: 6513:, § I.I.26.). 6512: 6509: 6505: 6502: 6498: 6495: 6492: 6488: 6484: 6480: 6476: 6472: 6468: 6464: 6460: 6456: 6451: 6447: 6443: 6439: 6435: 6431: 6427: 6422: 6418: 6414: 6409: 6405: 6401: 6397: 6393: 6389: 6385: 6378: 6373: 6369: 6365: 6361: 6357: 6353: 6349: 6345: 6341: 6337: 6332: 6329:(1): 221–249. 6328: 6324: 6319: 6318: 6310: 6306: 6302: 6299: 6295: 6291: 6288: 6287:0-7710-3299-4 6284: 6280: 6276: 6272: 6266: 6262: 6258: 6254: 6250: 6246: 6241: 6237: 6231: 6227: 6222: 6218: 6212: 6208: 6203: 6199: 6193: 6188: 6187: 6180: 6176: 6170: 6166: 6161: 6157: 6152: 6149: 6148:0-471-29563-9 6145: 6142: 6138: 6135: 6134:US government 6132:explains the 6131: 6127: 6126:David A. Moss 6123: 6122: 6114: 6110: 6106: 6103: 6099: 6095: 6091: 6087: 6082: 6079: 6075: 6072: 6071: 6043: 6039: 6035: 6031: 6027: 6023: 6019: 6012: 6005: 5996: 5981: 5977: 5972: 5967: 5963: 5959: 5955: 5948: 5940: 5936: 5932: 5928: 5924: 5920: 5913: 5907: 5905: 5898: 5890: 5884: 5880: 5873: 5865: 5863:9781118539279 5859: 5855: 5848: 5839: 5831: 5827: 5823: 5819: 5812: 5804: 5800: 5796: 5792: 5788: 5784: 5777: 5769: 5764: 5756: 5749:(2): 122–147. 5748: 5744: 5737: 5730: 5722: 5718: 5711: 5703: 5699: 5695: 5691: 5684: 5676: 5672: 5668: 5664: 5657: 5649: 5645: 5641: 5637: 5633: 5626: 5611: 5607: 5603: 5599: 5598: 5592: 5584: 5576: 5572: 5568: 5564: 5560: 5556: 5549: 5541: 5537: 5533: 5529: 5525: 5521: 5517: 5513: 5506: 5499: 5490: 5482: 5478: 5474: 5470: 5466: 5462: 5458: 5454: 5450: 5443: 5435: 5431: 5427: 5423: 5419: 5415: 5408: 5399: 5390: 5381: 5373: 5366: 5358: 5354: 5349: 5344: 5340: 5336: 5329: 5321: 5317: 5312: 5307: 5302: 5297: 5293: 5289: 5286:(6): e66544. 5285: 5281: 5277: 5270: 5262: 5258: 5253: 5248: 5243: 5238: 5234: 5230: 5227:(4): e32837. 5226: 5222: 5218: 5214: 5208: 5200: 5196: 5192: 5188: 5184: 5180: 5176: 5172: 5168: 5164: 5157: 5149: 5145: 5141: 5137: 5133: 5129: 5122: 5113: 5108: 5104: 5100: 5096: 5092: 5085: 5083: 5074: 5070: 5066: 5062: 5057: 5052: 5048: 5044: 5040: 5036: 5032: 5025: 5016: 5008: 5004: 5000: 4996: 4992: 4988: 4984: 4980: 4973: 4965: 4958: 4950: 4943: 4935: 4928: 4920: 4916: 4911: 4906: 4902: 4898: 4891: 4883: 4876: 4868: 4861: 4853: 4846: 4830: 4829:Four Cultures 4826: 4820: 4812: 4805: 4797: 4790: 4782: 4775: 4767: 4763: 4756: 4748: 4741: 4733: 4729: 4725: 4721: 4717: 4713: 4709: 4705: 4701: 4694: 4686: 4679: 4671: 4667: 4663: 4659: 4655: 4651: 4647: 4643: 4639: 4635: 4628: 4620: 4613: 4605: 4598: 4590: 4586: 4581: 4576: 4572: 4568: 4564: 4557: 4549: 4548: 4540: 4538: 4529: 4528: 4521: 4513: 4506: 4495: 4494: 4487: 4476: 4475: 4468: 4452: 4446: 4444: 4442: 4440: 4438: 4436: 4434: 4425: 4418: 4410: 4404: 4396: 4390: 4374: 4370: 4364: 4356: 4350: 4348: 4340: 4334: 4328: 4322: 4313: 4305: 4299: 4283: 4277: 4269: 4265: 4261: 4257: 4252: 4247: 4243: 4239: 4232: 4224: 4217: 4209: 4205: 4199: 4191: 4184: 4168: 4164: 4160: 4153: 4145: 4139: 4131: 4125: 4110: 4106: 4100: 4092: 4088: 4084: 4080: 4076: 4072: 4065: 4057: 4051: 4047: 4040: 4024: 4020: 4013: 4006: 3990: 3984: 3973: 3972: 3965: 3956: 3948: 3942: 3934: 3927: 3925: 3916: 3912: 3908: 3904: 3903:Risk Analysis 3897: 3895: 3893: 3884: 3877: 3870: 3866: 3861: 3852: 3847: 3843: 3839: 3835: 3828: 3820: 3818:9781119522034 3814: 3810: 3803: 3801: 3799: 3797: 3795: 3786: 3782: 3775: 3759: 3755: 3751: 3744: 3736: 3735: 3727: 3719: 3715: 3714: 3706: 3699: 3695: 3689: 3687: 3685: 3676: 3669: 3661: 3660: 3653: 3645: 3644: 3638: 3635: 3632: 3626: 3618: 3617: 3611: 3607: 3603: 3600: 3594: 3586: 3585: 3579: 3575: 3572: 3566: 3558: 3557: 3550: 3542: 3534: 3530: 3529: 3523: 3516: 3514: 3505: 3501: 3495: 3493: 3491: 3489: 3487: 3485: 3476: 3475: 3468: 3466: 3464: 3462: 3460: 3458: 3438: 3432: 3430: 3421: 3417: 3411: 3409: 3407: 3402: 3392: 3391:Systemic risk 3389: 3387: 3386:Sampling risk 3384: 3382: 3379: 3377: 3374: 3372: 3369: 3367: 3364: 3362: 3359: 3357: 3356:Relative risk 3354: 3352: 3349: 3347: 3344: 3342: 3339: 3337: 3336:Loss aversion 3334: 3332: 3329: 3327: 3324: 3322: 3321:ISO/PAS 28000 3319: 3317: 3314: 3312: 3309: 3307: 3304: 3302: 3299: 3297: 3296:Hazard (risk) 3294: 3292: 3289: 3287: 3284: 3282: 3279: 3277: 3274: 3272: 3269: 3267: 3264: 3262: 3261:Civil defence 3259: 3257: 3254: 3252: 3251:Absolute risk 3249: 3247: 3244: 3243: 3231: 3229: 3226: 3224: 3221: 3220: 3216: 3213: 3211: 3209: 3204: 3203: 3199: 3197: 3193: 3191: 3188: 3187: 3183: 3181: 3177: 3175: 3172: 3171: 3167: 3165: 3161: 3157: 3155: 3152: 3151: 3147: 3145: 3144:Diane Vaughan 3142: 3140: 3137: 3136: 3132: 3129: 3127: 3124: 3123: 3119: 3116: 3113: 3111: 3109: 3105: 3100: 3099: 3095: 3093: 3089: 3086: 3084: 3081: 3080: 3076: 3074:Bernardus Ale 3073: 3071: 3069: 3065: 3060: 3059: 3055: 3052: 3050: 3047: 3046: 3042: 3039: 3037: 3034: 3033: 3029: 3026: 3024: 3021: 3020: 3016: 3013: 3011: 3008: 3007: 3003: 3000: 2998: 2995: 2994: 2990: 2987: 2984: 2982: 2979: 2978: 2974: 2972: 2969: 2967: 2964: 2963: 2959: 2956: 2954: 2951: 2950: 2946: 2943: 2939: 2937: 2934: 2933: 2929: 2926: 2924: 2921: 2920: 2916: 2913: 2911: 2908: 2907: 2903: 2901: 2898: 2896: 2893: 2892: 2888: 2886: 2882: 2880: 2877: 2876: 2872: 2870: 2866: 2862: 2859: 2857: 2854: 2853: 2849: 2846: 2844: 2841: 2840: 2836: 2834: 2831: 2829: 2826: 2825: 2821: 2818: 2816: 2813: 2812: 2808: 2805: 2803: 2800: 2799: 2795: 2792: 2790: 2787: 2786: 2782: 2779: 2778:Piers Blaikie 2776: 2774: 2771: 2770: 2766: 2764: 2761: 2759: 2756: 2755: 2751: 2748: 2744: 2742: 2739: 2738: 2734: 2731: 2728: 2727: 2724: 2722: 2712: 2709: 2708: 2703: 2699: 2695: 2694:modernization 2691: 2687: 2683: 2679: 2669: 2666: 2658: 2648: 2644: 2640: 2634: 2633: 2629: 2624:This section 2622: 2618: 2613: 2612: 2608: 2598: 2596: 2585: 2583: 2579: 2574: 2570: 2566: 2562: 2560: 2554: 2552: 2548: 2544: 2540: 2536: 2532: 2531:risk attitude 2526: 2522: 2521:Risk aversion 2512: 2510: 2506: 2502: 2498: 2494: 2490: 2486: 2482: 2473: 2466: 2463: 2460: 2457: 2454: 2451: 2448: 2445: 2444: 2443: 2440: 2438: 2432: 2428: 2426: 2422: 2404: 2397: 2386: 2383: 2374: 2370: 2366: 2364: 2360: 2356: 2355:cultural bias 2352: 2348: 2343: 2341: 2337: 2333: 2329: 2328:moral hazards 2324: 2322: 2321:drunk driving 2318: 2314: 2310: 2306: 2304: 2303:risk aversion 2300: 2295: 2292: 2286: 2282: 2272: 2269: 2264: 2254: 2251: 2246: 2244: 2240: 2229: 2226: 2222: 2219: 2215: 2206: 2204: 2198: 2188: 2185: 2182:The field of 2180: 2166: 2159: 2156: 2153: 2150: 2149: 2148: 2145: 2140: 2130: 2124: 2121: 2118: 2117: 2116: 2113: 2103: 2099: 2097: 2092: 2090: 2085: 2083: 2073: 2071: 2067: 2063: 2053: 2038: 2036: 2035:relative risk 2029:Relative risk 2026: 2024: 2020: 2016: 2003: 2002: 1998: 1997: 1993: 1992: 1988: 1984: 1983: 1982: 1980: 1948: 1944: 1919: 1915: 1911: 1906: 1902: 1881: 1874: 1869: 1865: 1859: 1856: 1852: 1846: 1841: 1837: 1829: 1828: 1827: 1817: 1813: 1809: 1790: 1787: 1784: 1777: 1776: 1775: 1773: 1769: 1765: 1761: 1751: 1749: 1744: 1740: 1735: 1733: 1732:decision rule 1729: 1728:loss function 1725: 1724:risk function 1704: 1700: 1694: 1690: 1684: 1679: 1676: 1673: 1669: 1665: 1662: 1655: 1654: 1653: 1650: 1622: 1608: 1605: 1598: 1597: 1596: 1594: 1590: 1586: 1582: 1572: 1570: 1569:Value at Risk 1565: 1563: 1558: 1556: 1534: 1528: 1525: 1522: 1515: 1514: 1513: 1511: 1507: 1506:loss function 1482: 1475: 1460: 1453: 1438: 1431: 1416: 1409: 1394: 1387: 1386: 1385: 1364: 1361: 1358: 1355: 1352: 1349: 1346: 1343: 1340: 1333: 1330: 1323: 1322: 1321: 1318: 1316: 1311: 1309: 1308:risk register 1301: 1298: 1295: 1294: 1293: 1275: 1268: 1251: 1247: 1239: 1222: 1218: 1210: 1193: 1189: 1181: 1180: 1179: 1156: 1152: 1148: 1143: 1139: 1135: 1130: 1126: 1119: 1107: 1106: 1105: 1097: 1095: 1082: 1079: 1075: 1072: 1071: 1070: 1068: 1063: 1056: 1052: 1049: 1045: 1042: 1041:risk appetite 1038: 1037: 1036: 1033: 1029: 1018: 1017:Delphi method 1014: 1010: 1008: 1004: 1000: 996: 993: 989: 985: 982: 981: 980: 973: 970: 967: 964: 961: 958: 955: 954: 953: 950: 944:Risk analysis 941: 934: 930: 929:brainstorming 926: 923: 919: 916: 913: 909: 905: 901: 898: 895: 894: 893: 890: 887: 883: 875: 873: 864: 863: 859: 855: 854: 850: 849: 848: 845: 843: 837: 827: 823: 819: 812: 809: 806: 803: 799: 798:risk analysis 795: 791: 788: 785: 782: 781: 780: 778: 774: 770: 768: 761: 757: 742: 739: 735: 733: 727:Security risk 724: 722: 718: 714: 709: 706: 702: 698: 690: 681: 679: 674: 664: 660: 658: 654: 649: 639: 635: 632: 630: 626: 617: 614: 610: 608: 604: 600: 596: 592: 587: 583: 579: 575: 565: 563: 562:birth defects 559: 555: 544: 542: 537: 534: 530: 529:public health 525: 523: 519: 518:public health 515: 511: 509: 505: 495: 493: 489: 486:In financial 484: 482: 478: 474: 470: 468: 467:inherent risk 464: 459: 457: 456:value at risk 453: 449: 445: 441: 439: 435: 434:downside risk 430: 428: 424: 420: 416: 412: 408: 403: 393: 390: 387: 385: 381: 371: 368: 365: 359:Economic risk 356: 354: 345: 343: 339: 335: 330: 325: 318:Business risk 315: 306: 303: 297: 292: 286: 285: 281: 280: 276: 275:vulnerability 272: 271: 267: 266: 262: 261: 257: 253: 252: 248: 247: 243: 239: 235: 231: 227: 226: 222: 221: 217: 216: 212: 211: 207: 206: 202: 198: 197: 191: 188: 183: 180: 177: 175: 170: 166: 164: 154: 152: 146: 142: 140: 136: 132: 128: 113: 111: 110:organizations 107: 103: 99: 95: 91: 87: 83: 79: 75: 71: 66: 64: 59: 55: 47: 43: 39: 33: 19: 18:Security risk 8251: 8106:occupational 8101:epidemiology 8072:Engineering 7970:Permaculture 7933:Ethnobiology 7684: 7677: 7623:Credit union 7589: 7582: 7563: 7435:Underwriting 7390:Insurability 7372: 7351:Co-insurance 7321: 7317:Cancellation 7270: 7108:Catastrophic 7093:Climate risk 6921:Trade credit 6688: 6646: 6594: 6590: 6557: 6553: 6536: 6532: 6517: 6507: 6500: 6490: 6458: 6454: 6429: 6425: 6416: 6412: 6387: 6383: 6343: 6339: 6326: 6323:Divus Thomas 6322: 6278: 6247:. Springer. 6244: 6225: 6206: 6185: 6164: 6155: 6140: 6129: 6108: 6100:(1): 119–30. 6097: 6093: 6077: 6063:Bibliography 6051:19 September 6049:. Retrieved 6042:the original 6024:(1): 30–49. 6021: 6017: 6004: 5995: 5983:. Retrieved 5964:(4): 17-24. 5961: 5957: 5947: 5922: 5918: 5912: 5903: 5897: 5878: 5872: 5853: 5847: 5838: 5821: 5817: 5811: 5786: 5782: 5776: 5767: 5755: 5746: 5742: 5729: 5720: 5716: 5710: 5693: 5689: 5683: 5666: 5662: 5656: 5639: 5636:Econometrica 5635: 5625: 5613:. Retrieved 5601: 5595: 5583: 5558: 5548: 5515: 5511: 5498: 5489: 5456: 5452: 5442: 5417: 5413: 5407: 5398: 5389: 5380: 5371: 5365: 5338: 5334: 5328: 5283: 5279: 5269: 5224: 5220: 5207: 5166: 5162: 5156: 5131: 5127: 5121: 5094: 5090: 5038: 5034: 5024: 5015: 4982: 4978: 4972: 4963: 4957: 4948: 4942: 4933: 4927: 4900: 4896: 4890: 4884:. Routledge. 4881: 4875: 4866: 4860: 4851: 4845: 4833:. 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Retrieved 3419: 3346:Process risk 3222: 3205: 3189: 3173: 3160:Robert Kates 3158:Ian Burton, 3153: 3138: 3125: 3101: 3088:Mary Douglas 3082: 3061: 3048: 3035: 3022: 3009: 2996: 2980: 2965: 2952: 2935: 2922: 2909: 2894: 2878: 2869:Amos Tversky 2855: 2842: 2827: 2814: 2801: 2788: 2772: 2757: 2740: 2720: 2718: 2707:Risk society 2705: 2676: 2661: 2655:October 2022 2652: 2637:Please help 2625: 2607:Risk society 2601:Risk society 2595:John O'Brien 2591: 2563: 2559:rate of ruin 2555: 2551:risk-seeking 2550: 2547:risk-neutral 2546: 2542: 2538: 2534: 2530: 2528: 2479: 2470: 2464: 2458: 2452: 2446: 2441: 2434: 2430: 2425:Frank Knight 2420: 2418: 2384: 2380: 2371: 2367: 2344: 2325: 2307: 2296: 2288: 2266: 2247: 2235: 2223: 2212: 2200: 2181: 2177: 2163: 2142: 2128: 2112:psychometric 2109: 2100: 2093: 2086: 2079: 2068: 2064: 2060: 2032: 2012: 1976: 1805: 1757: 1739:risk-neutral 1736: 1721: 1651: 1648: 1592: 1588: 1578: 1566: 1559: 1552: 1503: 1383: 1319: 1312: 1305: 1291: 1177: 1103: 1094:risk metrics 1091: 1064: 1060: 1034: 1030: 1027: 977: 951: 947: 938: 891: 884: 881: 869: 846: 839: 824: 820: 816: 775: 771: 763: 740: 736: 730: 710: 695: 670: 667:Project risk 661: 651: 636: 633: 623: 611: 589: 550: 538: 526: 514:Epidemiology 512: 501: 485: 471: 460: 442: 431: 405: 391: 388: 377: 369: 362: 351: 331: 327: 312: 299: 294: 290: 189: 185: 181: 178: 171: 168: 160: 148: 144: 138: 134: 130: 124: 67: 53: 51: 42:Firefighters 8117:Management 8061:sustainable 7833:Agroecology 7658:Trade union 7613:Cooperative 7286:Uncertainty 7145:Index-based 7113:Multi-peril 7071:Reinsurance 7030:Public auto 6935:Residential 6520:(PDF file). 6277:Gardner D. 5128:Psychol Rev 4903:(1): 1–17. 4768:(3): 14–20. 4762:Environment 4114:19 February 4029:12 December 3787:(1): 77–91. 3180:Paul Slovic 2927:Maxx Dilley 2865:Paul Slovic 2747:Paul Slovic 2704:. The term 2682:Ulrich Beck 2543:risk-averse 2447:Uncertainty 1979:frequencies 1593:No accident 1315:risk matrix 858:risk matrix 719:(PRA). 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