Reliability and validity of risk analysis

Terje Aven and Heide, Bjørnar

Reliability Engineering and System Safety, 2009, vol. 94, issue 11, 1862-1868

Abstract: In this paper we investigate to what extent risk analysis meets the scientific quality requirements of reliability and validity. We distinguish between two types of approaches within risk analysis, relative frequency-based approaches and Bayesian approaches. The former category includes both traditional statistical inference methods and the so-called probability of frequency approach. Depending on the risk analysis approach, the aim of the analysis is different, the results are presented in different ways and consequently the meaning of the concepts reliability and validity are not the same.

Keywords: Scientific requirements; Reliability and validity; Risk analysis; Probability of frequency approach; Bayesian approaches (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (37)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:94:y:2009:i:11:p:1862-1868

DOI: 10.1016/j.ress.2009.06.003

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