Recovery time of a complex system in risk and crisis management operations

Panagiotis T. Artikis and Constantinos T. Artikis

International Journal of Decision Sciences, Risk and Management, 2009, vol. 1, issue 1/2, 104-111

Abstract: It is generally recognised that a random sum of discrete random variables and a maximum of a random number of non-negative random variables are very powerful analytical concepts for formulating effective stochastic models with significant applications in many practical disciplines. The paper combines these concepts in order to formulate a stochastic model. Properties and applications in risk and crisis management operations of the formulated stochastic model are also established.

Keywords: risk management; crisis management; emergency management; recovery time; complex systems; stochastic modelling. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijdsrm:v:1:y:2009:i:1/2:p:104-111

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