{"product_id":"misconceptions-of-risk-hardback-9780470683880","title":"Misconceptions of Risk (Hardback) 9780470683880","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eMisconceptions of Risk\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cfont size=\"4\"\u003eTerje Aven (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470683880, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 12 January 2010\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e264 pages\u003cbr\u003e23.1 x 16.4 x 1.9 cm, 0.539 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"Therefore it is enjoyably readable by a wide audience, by virtue of the efficacy of a simple - even if accurate and rigorous - treatment of conceptually advanced issues.\" (Zentralblatt MATH, 2011)  \u003cp\u003e \u003c\/p\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eWe all face risks in a variety of ways, as individuals, businesses and societies. The discipline of risk assessment and risk management is growing rapidly and there is an enormous drive for the implementation of risk assessment methods and risk management in organizations. There are great expectations that these tools provide suitable frameworks for obtaining high levels of performance and balance different concerns such as safety and costs.  \u003cp\u003eThe analysis and management of risk are not straightforward. There are many challenges. The risk discipline is young and there area a number of ideas, perspectives and conceptions of risk out there. For example many analysts and researchers consider it appropriate to base their risk management policies on the use of expected values, which basically means that potential losses are multiplied with their associated consequences. However, the rationale for such a policy is questionable.\u003c\/p\u003e \u003cp\u003eA number of such common conceptions of risk are examined in the book, related to the risk concept, risk assessments, uncertainty analyses, risk perception, the precautionary principle, risk management and decision making under uncertainty. The Author discusses these concepts, their strenghts and weaknesses, and concludes that they are often better judged as misconceptions of risk than conceptions of risk.\u003c\/p\u003e \u003cp\u003eKey Features:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eDiscusses common conceptions of risk with supporting examples.\u003c\/li\u003e \u003cli\u003eProvides recommendations and guidance to risk analysis and risk management.\u003c\/li\u003e \u003cli\u003eRelevant for all types of applications, including engineering and business.\u003c\/li\u003e \u003cli\u003ePresents the Author’s overall conclusions on the issues addressed throughout the book.\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAll those working with risk-related problems need to understand the fundamental ideas and concepts of risk. Professionals in the field of risk, as well as researchers and graduate sutdents will benefit from this book. Policy makers and business people will also find this book of interest.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePreface.  \u003cp\u003eAcknowledgements.\u003c\/p\u003e \u003cp\u003e1 Risk is Equal to the Expected Value.\u003c\/p\u003e \u003cp\u003e2 Risk is a Probability or Probability Distribution.\u003c\/p\u003e \u003cp\u003e3 Risk Equals a Probability Distribution Quantile (Value-at-Risk).\u003c\/p\u003e \u003cp\u003e4 Risk Equals Uncertainty.\u003c\/p\u003e \u003cp\u003e5 Risk is Equal to an Event.\u003c\/p\u003e \u003cp\u003e6 Risk Equals Expected Disutility.\u003c\/p\u003e \u003cp\u003e7 Risk is Restricted to the Case of Objective Probabilities.\u003c\/p\u003e \u003cp\u003e8 Risk is the Same as Risk Perception.\u003c\/p\u003e \u003cp\u003e9 Risk Relates to Negative Consequences Only.\u003c\/p\u003e \u003cp\u003e10 Risk is Determined by the Historical Data.\u003c\/p\u003e \u003cp\u003e11 Risk Assessments Produce an Objective Risk Picture.\u003c\/p\u003e \u003cp\u003e12 There are Large Inherent Uncertainties in Risk Analyses.\u003c\/p\u003e \u003cp\u003e13 Model Uncertainty Should be Quantified.\u003c\/p\u003e \u003cp\u003e14 It is Meaningful and Useful to Distinguish between Stochastic and Epistemic Uncertainties.\u003c\/p\u003e \u003cp\u003e15 Bayesian Analysis is Based on the Use of Probability Models and Bayesian Updating.\u003c\/p\u003e \u003cp\u003e16 Sensitivity Analysis is a Type of Uncertainty Analysis.\u003c\/p\u003e \u003cp\u003e17 The Main Objective of Risk Management is Risk Reduction.\u003c\/p\u003e \u003cp\u003e18 Decision-Making Under Uncertainty Should be Based on Science (Analysis).\u003c\/p\u003e \u003cp\u003e19 The Precautionary Principle and Risk Management Cannot be Meaningfully Integrated.\u003c\/p\u003e \u003cp\u003e20 Conclusions.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Mathematics [\u003ca title=\"See our other books on Mathematics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Mathematics%20%5BPB%5D%22\"\u003ePB\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52278020997400,"sku":"9780470683880","price":58.57,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780470683880.jpg?v=1781455806","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/misconceptions-of-risk-hardback-9780470683880","provider":"Freshly Printed Books","version":"1.0","type":"link"}