Learning to Manage the Multirisk World

Jonathan B. Wiener

Risk Analysis, 2020, vol. 40, issue S1, 2137-2143

Abstract: Risk assessment, perception, and management tend to focus on one risk at a time. But we live in a multirisk world. This essay in honor of the 40th anniversary of the Society for Risk Analysis (SRA) and the journal Risk Analysis suggests that we can—and have already begun to—strengthen risk analysis and policy outcomes by moving from a focus on the single to the multiple—multiple stressors, multiple impacts, and multiple decisions. This evolution can improve our abilities to assess actual risks, to confront and weigh risk‐risk trade‐offs and innovate risk‐superior moves, and to build learning into adaptive regulation that adjusts over time. Recognizing the multirisk reality can help us understand complex systems, foresee unintended consequences, design better policy solutions, and learn to improve.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:wly:riskan:v:40:y:2020:i:s1:p:2137-2143

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