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An R-Based Landscape Validation of a Competing Risk Model
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A scale of risk.

Paolo Gardoni1, Colleen Murphy

  • 1Department of Civil and Environmental Engineering, University of Illinois at Urbana-Champaign, Urbana, IL, USA.

Risk Analysis : an Official Publication of the Society for Risk Analysis
|December 31, 2013
PubMed
Summary
This summary is machine-generated.

This study introduces a new framework for assessing risk, incorporating moral considerations. It ranks risks by consequences, probability, and the moral culpability of the risk source to guide mitigation efforts.

Keywords:
Moral considerationsrankingrisk comparisonrisk evaluationsourcetaxonomy

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Area of Science:

  • Risk assessment and management
  • Moral philosophy
  • Decision theory

Background:

  • Traditional risk assessment often overlooks the moral dimension of risk creation.
  • A comprehensive understanding of risk requires considering the agents responsible for hazards.
  • Existing frameworks lack a standardized method for comparing diverse risks based on moral culpability.

Purpose of the Study:

  • To propose a conceptual framework for ranking the relative gravity of diverse risks.
  • To integrate moral considerations into the evaluation and comparison of risks.
  • To provide a multidimensional scale for risk categorization.

Main Methods:

  • Expanding the definition of risk to include a third dimension: the source of the risk.
  • Developing a comparative evaluation scale based on consequences, probability, and risk source.
  • Categorizing risks based on a multidimensional ranking system.

Main Results:

  • A novel, multidimensional risk assessment framework is proposed.
  • Risks are ranked higher with larger consequences, greater probability, and more morally culpable sources.
  • The framework provides a systematic approach to comparing diverse risks.

Conclusions:

  • The proposed framework enhances risk evaluation by incorporating moral culpability of the source.
  • This multidimensional approach can inform the prioritization of risk mitigation strategies.
  • Integrating moral considerations leads to a more comprehensive and ethically grounded risk management.