On The Quantitative Definition of Risk

Stanley Kaplan and B. John Garrick

Risk Analysis, 1981, vol. 1, issue 1, 11-27

Abstract: A quantitative definition of risk is suggested in terms of the idea of a “set of triplets”. The definition is extended to include uncertainty and completeness, and the use of Bayes' theorem is described in this connection. The definition is used to discuss the notions of “relative risk”, “relativity of risk”, and “acceptability of risk”.

Date: 1981
References: View complete reference list from CitEc
Citations: View citations in EconPapers (254)

Downloads: (external link)
https://doi.org/10.1111/j.1539-6924.1981.tb01350.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:1:y:1981:i:1:p:11-27

Access Statistics for this article

More articles in Risk Analysis from John Wiley & Sons
Bibliographic data for series maintained by Wiley Content Delivery ().