A New Measure of Attributable Risk for Public Health Applications

Louis A. Cox, Jr.
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Louis A. Cox, Jr.: Arthur D. Little, Inc., 35 Acorn Park, Cambridge, Massachusetts 02140 and Operations Research Center, E40, Massachusetts Institute of Technology, Cambridge, Massachusetts 02138

Management Science, 1985, vol. 31, issue 7, 800-813

Abstract: A persistent conceptual problem in the theory of risk accounting and risk analysis methodology is that of allocating or attributing a risk among the joint causes or "factors" producing it. When multiple factors interact, the especially difficult problem of "risk externalities" arises. Drawing on related work in the mathematical theory of games that seeks solutions to similar philosophical and conceptual problems, this paper proposes a method for solving the risk attribution problem. The proposed solution is justified on the grounds that it is the unique risk attribution function satisfying three reasonable principles, or "axioms," of risk accounting. A mathematical framework for formulating risk attribution problems, and several possible applications, are also discussed.

Keywords: risk attribution; public health; games/group decisions; cooperative (search for similar items in EconPapers)
Date: 1985
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