Systemic Risk and Security Management

Yuri Ermoliev () and Detlof Winterfeldt ()
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Yuri Ermoliev: International Institute for Applied Systems Analysis
Detlof Winterfeldt: International Institute for Applied Systems Analysis

A chapter in Managing Safety of Heterogeneous Systems, 2012, pp 19-49 from Springer

Abstract: Abstract The aim of this paper is to develop a decision-theoretic approach to security management of uncertain multi-agent systems. Security is defined as the ability to deal with intentional and unintentional threats generated by agents. The main concern of the paper is the protection of public goods from these threats allowing explicit treatment of inherent uncertainties and robust security management solutions. The paper shows that robust solutions can be properly designed by new stochastic optimization tools applicable for multicriteria problems with uncertain probability distributions and multivariate extreme events.

Keywords: Systemic Risk; Security Management; Stackelberg Game; Principal Agent; Independent System Operator (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-642-22884-1_2

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DOI: 10.1007/978-3-642-22884-1_2

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