Quantitative Risk Assessment Goals and Challenges

Louis Anthony Cox ()
Additional contact information
Louis Anthony Cox: Cox Associates

Chapter Chapter 1 in Risk Analysis of Complex and Uncertain Systems, 2009, pp 3-33 from Springer

Abstract: How should societies, organizations, and individuals manage risks from activities with unknown or uncertain consequences? Many regulators and scientists advocate quantitative risk assessment (QRA) as providing both a logical framework and a systematic procedure for organizing and applying scientific and engineering knowledge to improve “rational” (consequence-driven) decision making when the consequences of alternative decisions are uncertain. It seeks to do so by using predictive models to identify and recommend choices (typically, among alternative risk management interventions, policies, or plans) that are predicted to make preferred consequences more likely.

Keywords: Risk Management; Bovine Spongiform Encephalopathy; Expert Judgment; Quantitative Risk Assessment; Canadian Food Inspection Agency (search for similar items in EconPapers)
Date: 2009
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:spr:isochp:978-0-387-89014-2_1

Ordering information: This item can be ordered from
http://www.springer.com/9780387890142

DOI: 10.1007/978-0-387-89014-2_1

Access Statistics for this chapter

More chapters in International Series in Operations Research & Management Science from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().