A Review of High-Stakes Decision Criteria

Mark Jablonowski

Chapter 1 in Risk Dilemmas, 2007, pp 1-14 from Palgrave Macmillan

Abstract: Abstract Risky choices entail, by definition, the chance of bad outcomes.1 It is seldom recognized how crucial the magnitude of these outcomes is to the decision. Ultimately, the stakes may be very high: Catastrophic, ruinous, terminal. The entity under risk simply ceases to exist or continues to exist in some greatly diminished form. Unfortunately, dealing with high-stakes risks is not as straightforward as dealing with their more mundane counterparts. What follows is an introduction to some of these high-stakes issues and a description of ways that we might resolve them. The solutions are not simple and may entail serious issues of their own. This discussion presents these high-stakes decision criteria and sets the stage for a deeper discussion of the challenges to their implementation.

Keywords: Precautionary Principle; Loss Event; Annual Probability; Risky Choice; Catastrophic Risk (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:palchp:978-0-230-28859-1_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230288591

DOI: 10.1057/9780230288591_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().