WorldWideScience

Sample records for risk related decisions

  1. Prospect relativity: how choice options influence decision under risk.

    Science.gov (United States)

    Stewart, Neil; Chater, Nick; Stott, Henry P; Reimers, Stian

    2003-03-01

    In many theories of decision under risk (e.g., expected utility theory, rank-dependent utility theory, and prospect theory), the utility of a prospect is independent of other options in the choice set. The experiments presented here show a large effect of the available options, suggesting instead that prospects are valued relative to one another. The judged certainty equivalent for a prospect is strongly influenced by the options available. Similarly, the selection of a preferred prospect is strongly influenced by the prospects available. Alternative theories of decision under risk (e.g., the stochastic difference model, multialternative decision field theory, and range frequency theory), where prospects are valued relative to one another, can provide an account of these context effects.

  2. Conformists or Rebels? Relative Risk Aversion, Educational Decisions, and Social Class Reproduction

    DEFF Research Database (Denmark)

    Holm, Anders; Jæger, Mads Meier

    2012-01-01

    This paper tests the theory of Relative Risk Aversion (RRA), which argues that educational decisions are intended to minimize the risk of downward social class mobility. We propose a structural model which distinguishes the instantaneous utility of educational decisions from the future utility...

  3. Neural mechanisms regulating different forms of risk-related decision-making: Insights from animal models.

    Science.gov (United States)

    Orsini, Caitlin A; Moorman, David E; Young, Jared W; Setlow, Barry; Floresco, Stan B

    2015-11-01

    Over the past 20 years there has been a growing interest in the neural underpinnings of cost/benefit decision-making. Recent studies with animal models have made considerable advances in our understanding of how different prefrontal, striatal, limbic and monoaminergic circuits interact to promote efficient risk/reward decision-making, and how dysfunction in these circuits underlies aberrant decision-making observed in numerous psychiatric disorders. This review will highlight recent findings from studies exploring these questions using a variety of behavioral assays, as well as molecular, pharmacological, neurophysiological, and translational approaches. We begin with a discussion of how neural systems related to decision subcomponents may interact to generate more complex decisions involving risk and uncertainty. This is followed by an overview of interactions between prefrontal-amygdala-dopamine and habenular circuits in regulating choice between certain and uncertain rewards and how different modes of dopamine transmission may contribute to these processes. These data will be compared with results from other studies investigating the contribution of some of these systems to guiding decision-making related to rewards vs. punishment. Lastly, we provide a brief summary of impairments in risk-related decision-making associated with psychiatric disorders, highlighting recent translational studies in laboratory animals. Copyright © 2015 Elsevier Ltd. All rights reserved.

  4. Trait Emotional Intelligence Is Related to Risk Taking when Adolescents Make Deliberative Decisions

    Directory of Open Access Journals (Sweden)

    Angelo Panno

    2016-08-01

    Full Text Available Most forms of risky behavior reach their peak during adolescence. A prominent line of research is exploring the relationship between people’s emotional self-efficacy and risk taking, but little is known about this relationship in the cognitive-deliberative domain among adolescents. The main aim of the present study consists in investigating whether trait EI (Emotional Intelligence is positively related to risk taking under predominantly cognitive-deliberative conditions among adolescents. Ninety-four adolescents played the cold version of the Columbia Card Task one month following an assessment of their trait EI. Results showed that trait EI is associated with risk taking under cognitive-deliberative conditions among adolescents. Moreover, the present research showed that trait EI is related to risk taking through the decision makers’ self-motivation. These results provide novel insights into research investigating the connections between emotional intelligence, decision science and adolescence research.

  5. Decision making under ambiguity but not under risk is related to problem gambling severity

    NARCIS (Netherlands)

    Brevers, Damien; Cleeremans, Axel; Goudriaan, Anna E.; Bechara, Antoine; Kornreich, Charles; Verbanck, Paul; Noël, Xavier

    2012-01-01

    The aim of the present study was to examine the relationship between problem gambling severity and decision-making situations that vary in two degrees of uncertainty (probability of outcome is known: decision-making under risk; probability of outcome is unknown: decision-making under ambiguity). For

  6. Using prior risk-related knowledge to support risk management decisions: lessons learnt from a tunneling project.

    Science.gov (United States)

    Cárdenas, Ibsen Chivatá; Al-Jibouri, Saad S H; Halman, Johannes I M; van de Linde, Wim; Kaalberg, Frank

    2014-10-01

    The authors of this article have developed six probabilistic causal models for critical risks in tunnel works. The details of the models' development and evaluation were reported in two earlier publications of this journal. Accordingly, as a remaining step, this article is focused on the investigation into the use of these models in a real case study project. The use of the models is challenging given the need to provide information on risks that usually are both project and context dependent. The latter is of particular concern in underground construction projects. Tunnel risks are the consequences of interactions between site- and project-specific factors. Large variations and uncertainties in ground conditions as well as project singularities give rise to particular risk factors with very specific impacts. These circumstances mean that existing risk information, gathered from previous projects, is extremely difficult to use in other projects. This article considers these issues and addresses the extent to which prior risk-related knowledge, in the form of causal models, as the models developed for the investigation, can be used to provide useful risk information for the case study project. The identification and characterization of the causes and conditions that lead to failures and their interactions as well as their associated probabilistic information is assumed to be risk-related knowledge in this article. It is shown that, irrespective of existing constraints on using information and knowledge from past experiences, construction risk-related knowledge can be transferred and used from project to project in the form of comprehensive models based on probabilistic-causal relationships. The article also shows that the developed models provide guidance as to the use of specific remedial measures by means of the identification of critical risk factors, and therefore they support risk management decisions. Similarly, a number of limitations of the models are

  7. Decision-making deficits in pathological gambling: the role of executive functions, explicit knowledge and impulsivity in relation to decisions made under ambiguity and risk.

    Science.gov (United States)

    Ochoa, Cristian; Alvarez-Moya, Eva M; Penelo, Eva; Aymami, M Neus; Gómez-Peña, Mónica; Fernández-Aranda, Fernando; Granero, Roser; Vallejo-Ruiloba, Julio; Menchón, José Manuel; Lawrence, Natalia S; Jiménez-Murcia, Susana

    2013-01-01

    A variety of cognitive and emotional processes influence the decision-making deficits observed in pathological gambling (PG). This study investigated the role of immediate/delayed sensitivity to reward and punishment, executive functions, impulsivity and explicit knowledge in relation to decision-making performance on the original Iowa Gambling Task (IGT-ABCD) and a variant (IGT-EFGH). We assessed 131 consecutive patients with a diagnosis of PG by using executive functioning and decision-making tasks, self-report measures of impulsivity and explicit knowledge. The majority of pathological gamblers (PGs) showed deficits in decision-making, characterized mainly by myopia for the future. Decisions made under risk showed different predictors. Performance on the IGT-ABCD for decisions made under risk was predicted by medium and high levels of explicit knowledge of the task, as well as by scores on the Disorderliness subscale and the degree of Stroop interference. By contrast, IGT-EFGH results were only associated with self-report impulsivity measures. Decision making in PG involves distinct patterns of deficits, and the predictors differ depending on the reinforcement schedule. Decisions made under risk on the IGT-ABCD are associated with explicit knowledge, executive functions and impulsivity traits related to conscious awareness and control processes. On the IGT-EFGH, however, only impulsivity traits predict decision making. Copyright © American Academy of Addiction Psychiatry.

  8. Decisions during negatively-framed messages yield smaller risk-aversion-related brain activation in substance-dependent individuals.

    Science.gov (United States)

    Fukunaga, Rena; Bogg, Tim; Finn, Peter R; Brown, Joshua W

    2013-12-01

    A sizable segment of addiction research investigates the effects of persuasive message appeals on risky and deleterious behaviors. However, to date, little research has examined how various forms of message framing and corresponding behavioral choices might by mediated by risk-related brain regions. Using event-related functional MRI, we investigated brain regions hypothesized to mediate the influence of message appeals on decision making in substance-dependent (SD) compared with nonsubstance-dependent (non-SD) individuals. The Iowa Gambling Task (IGT) was modified to include positively-framed, negatively-framed, and control messages about long-term deck payoffs. In the positively-framed condition, the SD and non-SD groups showed improved decision-making performance that corresponded to higher risk-aversion-related brain activity in the anterior cingulate cortex (ACC) and anterior insula (AI). In contrast, in the negatively-framed condition, the SD group showed poorer performance that corresponded to lower risk-aversion-related brain activity in the AI region. In addition, only the non-SD group showed a positive association between decision quality and greater risk-related activity in the ACC, regardless of message type. The findings suggest substance-dependent individuals may have reduced neurocognitive sensitivity in the ACC and AI regions involved in risk perception and aversion during decision-making, especially in response to framed messages that emphasize reduced prospects for long-term gains. PsycINFO Database Record (c) 2013 APA, all rights reserved.

  9. Decisions during Negatively-Framed Messages Yield Smaller Risk-Aversion-Related Brain Activation in Substance-Dependent Individuals

    Science.gov (United States)

    Fukunaga, Rena; Bogg, Tim; Finn, Peter R.; Brown, Joshua W.

    2012-01-01

    A sizable segment of addiction research investigates the effects of persuasive message appeals on risky and deleterious behaviors. However, to date, little research has examined how various forms of message framing and corresponding behavioral choices might by mediated by risk-related brain regions. Using event-related functional magnetic resonance imaging, we investigated brain regions hypothesized to mediate the influence of message appeals on decision making in substance-dependent (SD) compared to non-substance-dependent (non-SD) individuals. The Iowa Gambling Task (IGT) was modified to include positively-framed, negatively-framed, and control messages about long-term deck payoffs. In the positively-framed condition, the SD and non-SD groups showed improved decision-making performance that corresponded to higher risk-aversion-related brain activity in the anterior cingulate cortex (ACC) and anterior insula (AI). In contrast, in the negatively-framed condition, the SD group showed poorer performance that corresponded to lower risk-aversion-related brain activity in the AI region. In addition, only the non-SD group showed a positive association between decision quality and greater risk-related activity in the ACC, regardless of message type. The findings suggest substance-dependent individuals may have reduced neurocognitive sensitivity in the ACC and AI regions involved in risk perception and aversion during decision-making, especially in response to framed messages that emphasize reduced prospects for long-term gains. PMID:23148798

  10. Out of control mortality matters: the effect of perceived uncontrollable mortality risk on a health-related decision.

    Science.gov (United States)

    Pepper, Gillian V; Nettle, Daniel

    2014-01-01

    Prior evidence from the public health literature suggests that both control beliefs and perceived threats to life are important for health behaviour. Our previously presented theoretical model generated the more specific hypothesis that uncontrollable, but not controllable, personal mortality risk should alter the payoff from investment in health protection behaviours. We carried out three experiments to test whether altering the perceived controllability of mortality risk would affect a health-related decision. Experiment 1 demonstrated that a mortality prime could be used to alter a health-related decision: the choice between a healthier food reward (fruit) and an unhealthy alternative (chocolate). Experiment 2 demonstrated that it is the controllability of the mortality risk being primed that generates the effect, rather than mortality risk per se. Experiment 3 showed that the effect could be seen in a surreptitious experiment that was not explicitly health related. Our results suggest that perceptions about the controllability of mortality risk may be an important factor in people's health-related decisions. Thus, techniques for adjusting perceptions about mortality risk could be important tools for use in health interventions. More importantly, tackling those sources of mortality that people perceive to be uncontrollable could have a dual purpose: making neighbourhoods and workplaces safer would have the primary benefit of reducing uncontrollable mortality risk, which could lead to a secondary benefit from improved health behaviours.

  11. Out of control mortality matters: the effect of perceived uncontrollable mortality risk on a health-related decision

    Directory of Open Access Journals (Sweden)

    Gillian V. Pepper

    2014-06-01

    Full Text Available Prior evidence from the public health literature suggests that both control beliefs and perceived threats to life are important for health behaviour. Our previously presented theoretical model generated the more specific hypothesis that uncontrollable, but not controllable, personal mortality risk should alter the payoff from investment in health protection behaviours. We carried out three experiments to test whether altering the perceived controllability of mortality risk would affect a health-related decision. Experiment 1 demonstrated that a mortality prime could be used to alter a health-related decision: the choice between a healthier food reward (fruit and an unhealthy alternative (chocolate. Experiment 2 demonstrated that it is the controllability of the mortality risk being primed that generates the effect, rather than mortality risk per se. Experiment 3 showed that the effect could be seen in a surreptitious experiment that was not explicitly health related. Our results suggest that perceptions about the controllability of mortality risk may be an important factor in people’s health-related decisions. Thus, techniques for adjusting perceptions about mortality risk could be important tools for use in health interventions. More importantly, tackling those sources of mortality that people perceive to be uncontrollable could have a dual purpose: making neighbourhoods and workplaces safer would have the primary benefit of reducing uncontrollable mortality risk, which could lead to a secondary benefit from improved health behaviours.

  12. Age-related variance in decisions under ambiguity is explained by changes in reasoning, executive functions, and decision-making under risk.

    Science.gov (United States)

    Schiebener, Johannes; Brand, Matthias

    2017-06-01

    Previous literature has explained older individuals' disadvantageous decision-making under ambiguity in the Iowa Gambling Task (IGT) by reduced emotional warning signals preceding decisions. We argue that age-related reductions in IGT performance may also be explained by reductions in certain cognitive abilities (reasoning, executive functions). In 210 participants (18-86 years), we found that the age-related variance on IGT performance occurred only in the last 60 trials. The effect was mediated by cognitive abilities and their relation with decision-making performance under risk with explicit rules (Game of Dice Task). Thus, reductions in cognitive functions in older age may be associated with both a reduced ability to gain explicit insight into the rules of the ambiguous decision situation and with failure to choose the less risky options consequently after the rules have been understood explicitly. Previous literature may have underestimated the relevance of cognitive functions for age-related decline in decision-making performance under ambiguity.

  13. Divide and Conquer: A Valid Approach for Risk Assessment and Decision Making under Uncertainty for Groundwater-Related Diseases

    Science.gov (United States)

    Sanchez-Vila, X.; de Barros, F.; Bolster, D.; Nowak, W.

    2010-12-01

    Assessing the potential risk of hydro(geo)logical supply systems to human population is an interdisciplinary field. It relies on the expertise in fields as distant as hydrogeology, medicine, or anthropology, and needs powerful translation concepts to provide decision support and policy making. Reliable health risk estimates need to account for the uncertainties in hydrological, physiological and human behavioral parameters. We propose the use of fault trees to address the task of probabilistic risk analysis (PRA) and to support related management decisions. Fault trees allow decomposing the assessment of health risk into individual manageable modules, thus tackling a complex system by a structural “Divide and Conquer” approach. The complexity within each module can be chosen individually according to data availability, parsimony, relative importance and stage of analysis. The separation in modules allows for a true inter- and multi-disciplinary approach. This presentation highlights the three novel features of our work: (1) we define failure in terms of risk being above a threshold value, whereas previous studies used auxiliary events such as exceedance of critical concentration levels, (2) we plot an integrated fault tree that handles uncertainty in both hydrological and health components in a unified way, and (3) we introduce a new form of stochastic fault tree that allows to weaken the assumption of independent subsystems that is required by a classical fault tree approach. We illustrate our concept in a simple groundwater-related setting.

  14. Risk decisions and nuclear waste

    International Nuclear Information System (INIS)

    Hansson, S.O.

    1987-11-01

    The risk concept is multidimensional, and much of its contents is lost in the conventional reduction to a unidimensional and quantifiable term. Eight major dimensions of the risk concept are discussed, among them the time factor and the lack-of-knowledge factor. The requirements of a rational discourse are discussed, in general and in relation to risk issues. It is concluded that no single method for the comparison and assessment of risks can be seen as the only rational method. Different methods can all be rational, although based on different values. Risk evaluations cannot be performed as expert assessments, divorced from the political decision process. Instead, risk evaluation must be seen as an essentially political process. Public participation is necessary in democratic decision-making on risks as well as on other issues. Important conclusions can be drawn for the management of nuclear waste, concerning specifications for the technical solution, the need for research on risk concepts, and the decision-making process. (orig.)

  15. Decreasing Relative Risk Premium

    DEFF Research Database (Denmark)

    Hansen, Frank

    relative risk premium in the small implies decreasing relative risk premium in the large, and decreasing relative risk premium everywhere implies risk aversion. We finally show that preferences with decreasing relative risk premium may be equivalently expressed in terms of certain preferences on risky......We consider the risk premium demanded by a decision maker with wealth x in order to be indifferent between obtaining a new level of wealth y1 with certainty, or to participate in a lottery which either results in unchanged present wealth or a level of wealth y2 > y1. We define the relative risk...... premium as the quotient between the risk premium and the increase in wealth y1–x which the decision maker puts on the line by choosing the lottery in place of receiving y1 with certainty. We study preferences such that the relative risk premium is a decreasing function of present wealth, and we determine...

  16. Big Decisions, Big Risks

    DEFF Research Database (Denmark)

    Flyvbjerg, Bent; Bruzelius, Nils; Rothengatter, Werner

    2002-01-01

    major projects. The article describes lessons and recommendations on how to improve accountability in decision making on very large infrastructure investments in Denmark. The conventional approach to infrastructure investments is replaced by an alternative focusing on accountability. Redrawing...... and implementation is a highly stochastic one where things happen only with a certain probability and rarely turn out as originally intended. The failure to reflect the probabilistic reality of investment preparation and implementation is a central reason for the poor track record that can be documented for many...... the borderlines of private and public involvement, four specific measures to increase accountability are suggested and detailed: (1) Transparency, (2) Performance specifications, (3) Explication of regulatory regimes, and (4) Involvement of risk capital. The decision on whether or not to build a multi...

  17. Nature Disaster Risk Evaluation with a Group Decision Making Method Based on Incomplete Hesitant Fuzzy Linguistic Preference Relations

    Directory of Open Access Journals (Sweden)

    Ming Tang

    2018-04-01

    Full Text Available Because the natural disaster system is a very comprehensive and large system, the disaster reduction scheme must rely on risk analysis. Experts’ knowledge and experiences play a critical role in disaster risk assessment. The hesitant fuzzy linguistic preference relation is an effective tool to express experts’ preference information when comparing pairwise alternatives. Owing to the lack of knowledge or a heavy workload, information may be missed in the hesitant fuzzy linguistic preference relation. Thus, an incomplete hesitant fuzzy linguistic preference relation is constructed. In this paper, we firstly discuss some properties of the additive consistent hesitant fuzzy linguistic preference relation. Next, the incomplete hesitant fuzzy linguistic preference relation, the normalized hesitant fuzzy linguistic preference relation, and the acceptable hesitant fuzzy linguistic preference relation are defined. Afterwards, three procedures to estimate the missing information are proposed. The first one deals with the situation in which there are only n − 1 known judgments involving all the alternatives; the second one is used to estimate the missing information of the hesitant fuzzy linguistic preference relation with more known judgments; while the third procedure is used to deal with ignorance situations in which there is at least one alternative with totally missing information. Furthermore, an algorithm for group decision making with incomplete hesitant fuzzy linguistic preference relations is given. Finally, we illustrate our model with a case study about flood disaster risk evaluation. A comparative analysis is presented to testify the advantage of our method.

  18. Nature Disaster Risk Evaluation with a Group Decision Making Method Based on Incomplete Hesitant Fuzzy Linguistic Preference Relations.

    Science.gov (United States)

    Tang, Ming; Liao, Huchang; Li, Zongmin; Xu, Zeshui

    2018-04-13

    Because the natural disaster system is a very comprehensive and large system, the disaster reduction scheme must rely on risk analysis. Experts' knowledge and experiences play a critical role in disaster risk assessment. The hesitant fuzzy linguistic preference relation is an effective tool to express experts' preference information when comparing pairwise alternatives. Owing to the lack of knowledge or a heavy workload, information may be missed in the hesitant fuzzy linguistic preference relation. Thus, an incomplete hesitant fuzzy linguistic preference relation is constructed. In this paper, we firstly discuss some properties of the additive consistent hesitant fuzzy linguistic preference relation. Next, the incomplete hesitant fuzzy linguistic preference relation, the normalized hesitant fuzzy linguistic preference relation, and the acceptable hesitant fuzzy linguistic preference relation are defined. Afterwards, three procedures to estimate the missing information are proposed. The first one deals with the situation in which there are only n-1 known judgments involving all the alternatives; the second one is used to estimate the missing information of the hesitant fuzzy linguistic preference relation with more known judgments; while the third procedure is used to deal with ignorance situations in which there is at least one alternative with totally missing information. Furthermore, an algorithm for group decision making with incomplete hesitant fuzzy linguistic preference relations is given. Finally, we illustrate our model with a case study about flood disaster risk evaluation. A comparative analysis is presented to testify the advantage of our method.

  19. Farm decision making under risk and uncertainty.

    NARCIS (Netherlands)

    Backus, G.B.C.; Eidman, V.R.; Dijkhuizen, A.A.

    1997-01-01

    Relevant portions of the risk literature are reviewed, relating them to observed behaviour in farm decision-making. Relevant topics for applied agricultural risk research are proposed. The concept of decision making under risk and uncertainty is discussed by reviewing the theory of Subjective

  20. Regeneration decisions in forestry under climate change related uncertainties and risks

    DEFF Research Database (Denmark)

    Schou, Erik; Thorsen, Bo Jellesmark; Jacobsen, Jette Bredahl

    2015-01-01

    ) assigned to each outcome. Results show that the later a forest manager expects to obtain certainty about climate change or the more skewed their belief distribution, the more will decisions be based on ex ante assessments — suggesting that if forest managers believe that climate change uncertainty......Future climate development and its effects on forest ecosystems are not easily predicted or described in terms of standard probability concepts. Nevertheless, forest managers continuously make long-term decisions that will be subject to climate change impacts. The manager's assessment of possible...... to generate a set of alternative outcomes, investigating effects on decision making of three aspects of uncertainty: (i) the perceived time horizon before there will be certainty on outcome, (ii) the spread of impacts across the set of alternative outcomes, and (iii) the subjective probability (belief...

  1. Relative risk studies and their relevance to decision-making: the analytical approach in perspective

    International Nuclear Information System (INIS)

    Cohen, A.V.

    1982-01-01

    The risks associated with the generation of electricity using nuclear fuels, oil and coal are compared at the three stages of the electricity production process. Fuel extraction, public health effects and waste disposal risks are taken into consideration. Probabilities for a major catastrophic event are also calculated. The uncertainties of risk assessment at each stage are noted. The reasons for public prejudice against the evidence for the safety of nuclear power are discussed. (U.K.)

  2. Risk-informed decision-making related to the on-line maintenance

    International Nuclear Information System (INIS)

    Cepin, Marko

    2011-01-01

    On-line maintenance (OLM) represents the term, which includes testing and maintenance that is performed when the main generator of the nuclear power plant is connected to the grid. OLM on one side helps to decrease the number of activities, which would be performed during the scheduled outage, but on the other side it may contribute to a different level of risk, if the activity is performed when the plant is operating. If the risk of OLM during the power operation is much larger than the risk of similar activity performed during the shutdown the OLM may not be the desired strategy. Additionally, if the risk of OLM during the power operation is not larger than the risk of similar activity performed during the shutdown, the OLM would be the preferred strategy. The objective of the paper is to show risk evaluations of selected OLM activities of selected real plants and to examine if the current practices are suitable for the new nuclear power plants. The results of risk evaluations of OLM and their comparison show that the criteria or guidelines developed for existing plants are not completely suitable for new plants. The new power plants with expected lower risk measures, which can be lower for more than couple of orders of magnitude compared to existing plants, would be able to deal with OLM in plant configurations which would increase the risk for orders of magnitude, but would still be acceptable in terms of risk, if the existing criteria or guidelines are used. Results suggest that the risk guidelines for the OLM should be updated for their use in the case of new nuclear power plants.

  3. DECISIONS, METHODS AND TECHNIQUES RELATED TO DECISION SUPPORT SYSTEMS (DSS

    Directory of Open Access Journals (Sweden)

    Boghean Florin

    2015-07-01

    Full Text Available Generalised uncertainty, a phenomenon that today’s managers are facing as part of their professional experience, makes it impossible to anticipate the way the business environment will evolve or what will be the consequences of the decisions they plan to implement. Any decision making process within the company entails the simultaneous presence of a number of economic, technical, juridical, human and managerial variables. The development and the approval of a decision is the result of decision making activities developed by the decision maker and sometimes by a decision support team or/and a decision support system (DSS. These aspects related to specific applications of decision support systems in risk management will be approached in this research paper. Decisions in general and management decisions in particular are associated with numerous risks, due to their complexity and increasing contextual orientation. In each business entity, there are concerns with the implementation of risk management in order to improve the likelihood of meeting objectives, the trust of the parties involved, increase the operational safety and security as well as the protection of the environment, minimise losses, improve organisational resilience in order to diminish the negative impact on the organisation and provide a solid foundation for decision making. Since any business entity is considered to be a wealth generator, the analysis of their performance should not be restricted to financial efficiency alone, but will also encompass their economic efficiency as well. The type of research developed in this paper entails different dimensions: conceptual, methodological, as well as empirical testing. Subsequently, the conducted research entails a methodological side, since the conducted activities have resulted in the presentation of a simulation model that is useful in decision making processes on the capital market. The research conducted in the present paper

  4. Using prior risk-related knowledge to support risk management decisions: lessons learnt from a tunneling project

    NARCIS (Netherlands)

    Chivatá Cárdenas, Ibsen; Al-Jibouri, Saad H.S.; Halman, Johannes I.M.; van de Linde, W.; Kaalberg, F.

    2014-01-01

    The authors of this article have developed six probabilistic causal models for critical risks in tunnel works. The details of the models' development and evaluation were reported in two earlier publications of this journal. Accordingly, as a remaining step, this article is focused on the

  5. Attitudes towards risk in financial decision making

    OpenAIRE

    Vieira, Pedro Nuno Rino Carreira

    2016-01-01

    Doutoramento em Gestão Risk and attitudes towards risk play a central role in several areas such as economics and psychology. Interestingly, in economics risk attitudes are addressed under the umbrella of the Utility Theory, while in psychology they are measured by psychometric scales. Risk attitudes in financial decision making are here studied under both approaches with the concern of understanding how they are related. So, I propose a conceptual model that explains risk attitudes, I ...

  6. Risk attitude in small timesaving decisions.

    Science.gov (United States)

    Munichor, Nira; Erev, Ido; Lotem, Arnon

    2006-09-01

    Four experiments are presented that explore situations in which a decision maker has to rely on personal experience in an attempt to minimize delays. Experiment 1 shows that risk-attitude in these timesaving decisions is similar to risk-attitude in money-related decisions from experience: A risky prospect is more attractive than a safer prospect with the same expected value only when it leads to a better outcome most of the time. Experiment 2 highlights a boundary condition: It suggests that a difficulty in ranking the relevant delays moves behavior toward random choice. Experiments 3 and 4 show that when actions must be taken during the delay (thereby helping compare delays), this increases the similarity of timesaving decisions to money-related decisions. In these settings the results reflect an increase in risk aversion with experience. The relationship of the results to the study of non-human time-related decisions, human money-related decisions and human time perception is discussed.

  7. Factors associated with the risk perception and purchase decisions of Fukushima-related food in South Korea.

    Directory of Open Access Journals (Sweden)

    Dalnim Lee

    Full Text Available Following the Fukushima nuclear power plant accident, the risk level perceived by Koreans on the radioactive contamination of Japanese food that is being distributed in Korea remains high. Many of these perceptions are based on subjective risk perception rather than an objective measure with scientific evidence, which makes communicating risks more difficult; therefore, it is critical to understand factors associated with risk perception for effective risk communication. In this study, we identified variables that are associated with buying tendencies and opinions about the regulatory policy of Japanese seafood after the accident. A survey was conducted with 1045 adults aged over 20 years in Korea. The majority (68.8% responded that they would not purchase Japanese seafood when radioactivity levels in the food were non-detectable. Moreover, 82.2% responded that the current levels of import restrictions on Japanese seafood must be maintained. Despite many concerns regarding the exposure to radiation and the effects from food products following the Fukushima accident, the opportunities to encounter and to collect correct information remain limited and average radioactive knowledge scores were low (3.63 out of 9. Of the various characteristics associated with purchase decisions and agreement on the current import restraints of Japanese seafood, trust levels in the government and the mass media for providing information on radioactivity were major factors that influenced risk perception. While the scope of this study was limited to seafood, it is very closely tied to daily lives, where we revealed differences about risk perceptions and agreement on import restraints of Japanese seafood per a complex mixture of individual characteristics and the surrounding environment. These results provide useful information to understand the risk perception of the potential radioactive contamination of food and to predict the public's responses to food consumption

  8. Factors associated with the risk perception and purchase decisions of Fukushima-related food in South Korea.

    Science.gov (United States)

    Lee, Dalnim; Seo, Songwon; Song, Min Kyoung; Lee, Hyang Ki; Park, Sunhoo; Jin, Young Woo

    2017-01-01

    Following the Fukushima nuclear power plant accident, the risk level perceived by Koreans on the radioactive contamination of Japanese food that is being distributed in Korea remains high. Many of these perceptions are based on subjective risk perception rather than an objective measure with scientific evidence, which makes communicating risks more difficult; therefore, it is critical to understand factors associated with risk perception for effective risk communication. In this study, we identified variables that are associated with buying tendencies and opinions about the regulatory policy of Japanese seafood after the accident. A survey was conducted with 1045 adults aged over 20 years in Korea. The majority (68.8%) responded that they would not purchase Japanese seafood when radioactivity levels in the food were non-detectable. Moreover, 82.2% responded that the current levels of import restrictions on Japanese seafood must be maintained. Despite many concerns regarding the exposure to radiation and the effects from food products following the Fukushima accident, the opportunities to encounter and to collect correct information remain limited and average radioactive knowledge scores were low (3.63 out of 9). Of the various characteristics associated with purchase decisions and agreement on the current import restraints of Japanese seafood, trust levels in the government and the mass media for providing information on radioactivity were major factors that influenced risk perception. While the scope of this study was limited to seafood, it is very closely tied to daily lives, where we revealed differences about risk perceptions and agreement on import restraints of Japanese seafood per a complex mixture of individual characteristics and the surrounding environment. These results provide useful information to understand the risk perception of the potential radioactive contamination of food and to predict the public's responses to food consumption and import

  9. Factors associated with the risk perception and purchase decisions of Fukushima-related food in South Korea

    Science.gov (United States)

    Song, Min Kyoung; Lee, Hyang Ki; Park, Sunhoo; Jin, Young Woo

    2017-01-01

    Following the Fukushima nuclear power plant accident, the risk level perceived by Koreans on the radioactive contamination of Japanese food that is being distributed in Korea remains high. Many of these perceptions are based on subjective risk perception rather than an objective measure with scientific evidence, which makes communicating risks more difficult; therefore, it is critical to understand factors associated with risk perception for effective risk communication. In this study, we identified variables that are associated with buying tendencies and opinions about the regulatory policy of Japanese seafood after the accident. A survey was conducted with 1045 adults aged over 20 years in Korea. The majority (68.8%) responded that they would not purchase Japanese seafood when radioactivity levels in the food were non-detectable. Moreover, 82.2% responded that the current levels of import restrictions on Japanese seafood must be maintained. Despite many concerns regarding the exposure to radiation and the effects from food products following the Fukushima accident, the opportunities to encounter and to collect correct information remain limited and average radioactive knowledge scores were low (3.63 out of 9). Of the various characteristics associated with purchase decisions and agreement on the current import restraints of Japanese seafood, trust levels in the government and the mass media for providing information on radioactivity were major factors that influenced risk perception. While the scope of this study was limited to seafood, it is very closely tied to daily lives, where we revealed differences about risk perceptions and agreement on import restraints of Japanese seafood per a complex mixture of individual characteristics and the surrounding environment. These results provide useful information to understand the risk perception of the potential radioactive contamination of food and to predict the public’s responses to food consumption and import

  10. Risk approximation in decision making: approximative numeric abilities predict advantageous decisions under objective risk.

    Science.gov (United States)

    Mueller, Silke M; Schiebener, Johannes; Delazer, Margarete; Brand, Matthias

    2018-01-22

    Many decision situations in everyday life involve mathematical considerations. In decisions under objective risk, i.e., when explicit numeric information is available, executive functions and abilities to handle exact numbers and ratios are predictors of objectively advantageous choices. Although still debated, exact numeric abilities, e.g., normative calculation skills, are assumed to be related to approximate number processing skills. The current study investigates the effects of approximative numeric abilities on decision making under objective risk. Participants (N = 153) performed a paradigm measuring number-comparison, quantity-estimation, risk-estimation, and decision-making skills on the basis of rapid dot comparisons. Additionally, a risky decision-making task with exact numeric information was administered, as well as tasks measuring executive functions and exact numeric abilities, e.g., mental calculation and ratio processing skills, were conducted. Approximative numeric abilities significantly predicted advantageous decision making, even beyond the effects of executive functions and exact numeric skills. Especially being able to make accurate risk estimations seemed to contribute to superior choices. We recommend approximation skills and approximate number processing to be subject of future investigations on decision making under risk.

  11. Absolute risk, absolute risk reduction and relative risk

    Directory of Open Access Journals (Sweden)

    Jose Andres Calvache

    2012-12-01

    Full Text Available This article illustrates the epidemiological concepts of absolute risk, absolute risk reduction and relative risk through a clinical example. In addition, it emphasizes the usefulness of these concepts in clinical practice, clinical research and health decision-making process.

  12. Pathways: patient-centred decision counselling for women at risk of cancer-related infertility: a protocol for a comparative effectiveness cluster randomised trial.

    Science.gov (United States)

    Woodard, Terri Lynn; Hoffman, Aubri S; Crocker, Laura C; Holman, Deborah A; Hoffman, Derek B; Ma, Jusheng; Bassett, Roland L; Leal, Viola B; Volk, Robert J

    2018-02-21

    National guidelines recommend that all reproductive-age women with cancer be informed of their fertility risks and offered referral to fertility specialists to discuss fertility preservation options. However, reports indicate that only 5% of patients have consultations, and rates of long-term infertility-related distress remain high. Previous studies report several barriers to fertility preservation; however, initial success has been reported using provider education, patient decision aids and navigation support. This protocol will test effects of a multicomponent intervention compared with usual care on women's fertility preservation knowledge and decision-making outcomes. This cluster-randomised trial will compare the multicomponent intervention (provider education, patient decision aid and navigation support) with usual care (consultation and referral, if requested). One hundred newly diagnosed English-speaking women of reproductive age who are at risk of cancer-related infertility will be recruited from four regional oncology clinics.The Pathways patient decision aid website provides (1) up-to-date evidence and descriptions of fertility preservation and other family-building options, tailored to cancer type; (2) structured guidance to support personalising the information and informed decision-making; and (3) a printable summary to help women prepare for discussions with their oncologist and/or fertility specialist. Four sites will be randomly assigned to intervention or control groups. Participants will be recruited after their oncology consultation and asked to complete online questionnaires at baseline, 1 week and 2 months to assess their demographics, fertility preservation knowledge, and decision-making process and quality. The primary outcome (decisional conflict) will be tested using Fisher's exact test. Secondary outcomes will be assessed using generalised linear mixed models, and sensitivity analyses will be conducted, as appropriate. The University of

  13. Are decisions under risk malleable?

    Science.gov (United States)

    Fong, C; McCabe, K

    1999-09-14

    Human decision making under risk and uncertainty may depend on individual involvement in the outcome-generating process. Expected utility theory is silent on this issue. Prospect theory in its current form offers little, if any, prediction of how or why involvement in a process should matter, although it may offer ex post interpretations of empirical findings. Well-known findings in psychology demonstrate that when subjects exercise more involvement or choice in lottery procedures, they value their lottery tickets more highly. This often is interpreted as an "illusion of control," meaning that when subjects are more involved in a lottery, they may believe they are more likely to win, perhaps because they perceive that they have more control over the outcome. Our experimental design eliminates several possible alternative explanations for the results of previous studies in an experiment that varies the degree and type of involvement in lottery procedures. We find that in treatments with more involvement subjects on average place less rather than more value on their lottery tickets. One possible explanation for this is that involvement interacts with loss aversion by causing subjects to weigh losses more heavily than they would otherwise. One implication of our study is that involvement, either independently or in interaction with myopic loss aversion, may help explain the extreme risk aversion of bond investors.

  14. Risk Communication, Values Clarification, and Vaccination Decisions.

    Science.gov (United States)

    Witteman, Holly O; Chipenda Dansokho, Selma; Exe, Nicole; Dupuis, Audrey; Provencher, Thierry; Zikmund-Fisher, Brian J

    2015-10-01

    Many health-related decisions require choosing between two options, each with risks and benefits. When presented with such tradeoffs, people often make choices that fail to align with scientific evidence or with their own values. This study tested whether risk communication and values clarification methods could help parents and guardians make evidence-based, values-congruent decisions about children's influenza vaccinations. In 2013-2014 we conducted an online 2×2 factorial experiment in which a diverse sample of U.S. parents and guardians (n = 407) were randomly assigned to view either standard information about influenza vaccines or risk communication using absolute and incremental risk formats. Participants were then either presented or not presented with an interactive values clarification interface with constrained sliders and dynamic visual feedback. Participants randomized to the risk communication condition combined with the values clarification interface were more likely to indicate intentions to vaccinate (β = 2.10, t(399) = 2.63, p communication and values clarification methods may contribute to increased vaccination intentions, which may, in turn, predict vaccination status if logistical barriers are also addressed. © 2015 Society for Risk Analysis.

  15. Decision support for utility environmental risk management

    International Nuclear Information System (INIS)

    Balson, W.E.; Wilson, D.S.

    1991-01-01

    This paper reviews a number of decision support methods developed and applied by Decision Focus Incorporated to help utility personnel manage current environmental problems. This work has been performed for the Environmental Risk Analysis Program of EPRI's Environment Division, and also for a number of electric utilities across the country. These are two distinct types of decision support software tools that have been created: economic risk management and environmental risk analysis. These types differ primarily in the identification of who will make a decision. Economic risk management tools are directed primarily at decisions made by electric utilities. Environmental risk analysis tools are directed primarily at decisions made by legislative or regulatory agencies, about which a utility may wish to comment

  16. Principles for decisions involving environmental and health risks

    International Nuclear Information System (INIS)

    Bengtsson, B.

    1989-01-01

    Decision making with respect to safety is becoming more and more complex. The risk involved must be taken into account together with numerous other factors such as the benefits, the uncertainties and the public perception. Can the decision maker be aided by some kind of system, general rules of thumb, or broader perspective on similar decisions? This question has been addressed in a joint Nordic project relating to nuclear power. Modern techniques for risk assessment and management have been studied and parallels drawn to such areas as offshore safety and management of genotoxic chemicals in the environment. The topics include synoptic vs. incrementalistic approaches to decision making, health hazards from radiation and genotoxic chemicals, value judgments in decision making, definitions of low risks, risk comparisons, and principles for decision making when risks are involved. (author) 47 refs

  17. Neural Correlates of Feedback Processing in Decision Making under Risk

    Directory of Open Access Journals (Sweden)

    Beate eSchuermann

    2012-07-01

    Full Text Available Introduction. Event-related brain potentials (ERP provide important information about the sensitivity of the brain to process varying risks. The aim of the present study was to determine how different risk levels are reflected in decision-related ERPs, namely the feedback-related negativity (FRN and the P300. Material and Methods. 20 participants conducted a probabilistic two-choice gambling task while an electroencephalogram was recorded. Choices were provided between a low-risk option yielding low rewards and low losses and a high-risk option yielding high rewards and high losses. While options differed in expected risks, they were equal in expected values and in feedback probabilities. Results. At the behavioral level, participants were generally risk-averse but modulated their risk-taking behavior according to reward history. An early positivity (P200 was enhanced on negative feedbacks in high-risk compared to low-risk options. With regard to the FRN, there were significant amplitude differences between positive and negative feedbacks in high-risk options, but not in low-risk options. While the FRN on negative feedbacks did not vary with decision riskiness, reduced amplitudes were found for positive feedbacks in high-risk relative to low-risk choices. P300 amplitudes were larger in high-risk decisions, and in an additive way, after negative compared to positive feedback. Discussion. The present study revealed significant influences of risk and valence processing on ERPs. FRN findings suggest that the reward prediction error signal is increased after high-risk decisions. The increased P200 on negative feedback in risky decisions suggests that large negative prediction errors are processed as early as in the P200 time range. The later P300 amplitude is sensitive to feedback valence as well as to the risk of a decision. Thus, the P300 carries additional information for reward processing, mainly the enhanced motivational significance of risky

  18. Rational group decision making in risk situations

    International Nuclear Information System (INIS)

    Yoon, M.H.

    1987-01-01

    Risk management has received increasing attention recently as methods of quantifying risk have been evolving. This is considered a legitimate tendency in the context of the entirety of risk evaluation which connotes both risk quantification and decisions making thereon. A risk-free society does not appear possible; neither could one have zero competing risks or cost versus benefit resulting out of a risk-abatement effort. What further complicates the risk-decision problem is that there exists more than a single decision maker, who claim their own interests associated with risk decision. Furthermore, their risk perceptions are not at all same that the threshold risk levels for a particular actions are varying. In this dissertation, a brief survey on existing action levels for various sort of risk situations including carcinogens, toxic chemicals, etc., is reported on, with emphasis on nuclear risk situation. A decision theoretic approach is then adopted in both individual and group-level risk management. For the purpose of exemplification, multiplicative utility theory is applied for nuclear power risk; attributes derived for this specific purpose are discussed

  19. Deal or No Deal? Decision Making under Risk in a Large-Stake TV Game Show and Related Experiments

    NARCIS (Netherlands)

    M.J. van den Assem (Martijn)

    2008-01-01

    textabstractThe central theme of this dissertation is the analysis of risky choice. The first two chapters analyze the choice behavior of contestants in a TV game show named “Deal or No Deal” (DOND). DOND provides a unique opportunity to study risk behavior, because it is characterized by very large

  20. Risk-based emergency decision support

    International Nuclear Information System (INIS)

    Koerte, Jens

    2003-01-01

    In the present paper we discuss how to assist critical decisions taken under complex, contingent circumstances, with a high degree of uncertainty and short time frames. In such sharp-end decision regimes, standard rule-based decision support systems do not capture the complexity of the situation. At the same time, traditional risk analysis is of little use due to variability in the specific circumstances. How then, can an organisation provide assistance to, e.g. pilots in dealing with such emergencies? A method called 'contingent risk and decision analysis' is presented, to provide decision support for decisions under variable circumstances and short available time scales. The method consists of nine steps of definition, modelling, analysis and criteria definition to be performed 'off-line' by analysts, and procedure generation to transform the analysis result into an operational decision aid. Examples of pilots' decisions in response to sudden vibration in offshore helicopter transport method are used to illustrate the approach

  1. Applied decision analysis and risk evaluation

    International Nuclear Information System (INIS)

    Ferse, W.; Kruber, S.

    1995-01-01

    During 1994 the workgroup 'Applied Decision Analysis and Risk Evaluation; continued the work on the knowledge based decision support system XUMA-GEFA for the evaluation of the hazard potential of contaminated sites. Additionally a new research direction was started which aims at the support of a later stage of the treatment of contaminated sites: The clean-up decision. For the support of decisions arising at this stage, the methods of decision analysis will be used. Computational aids for evaluation and decision support were implemented and a case study at a waste disposal site in Saxony which turns out to be a danger for the surrounding groundwater ressource was initiated. (orig.)

  2. Uncertainties in risk assessment and decision making

    International Nuclear Information System (INIS)

    Starzec, Peter; Purucker, Tom; Stewart, Robert

    2008-02-01

    The general concept for risk assessment in accordance with the Swedish model for contaminated soil implies that the toxicological reference value for a given receptor is first back-calculated to a corresponding concentration of a compound in soil and (if applicable) then modified with respect to e.g. background levels, acute toxicity, and factor of safety. This result in a guideline value that is subsequently compared to the observed concentration levels. Many sources of uncertainty exist when assessing whether the risk for a receptor is significant or not. In this study, the uncertainty aspects have been addressed from three standpoints: 1. Uncertainty in the comparison between the level of contamination (source) and a given risk criterion (e.g. a guideline value) and possible implications on subsequent decisions. This type of uncertainty is considered to be most important in situations where a contaminant is expected to be spatially heterogeneous without any tendency to form isolated clusters (hotspots) that can be easily delineated, i.e. where mean values are appropriate to compare to the risk criterion. 2. Uncertainty in spatial distribution of a contaminant. Spatial uncertainty should be accounted for when hotspots are to be delineated and the volume of soil contaminated with levels above a stated decision criterion has to be assessed (quantified). 3. Uncertainty in an ecological exposure model with regard to the moving pattern of a receptor in relation to spatial distribution of contaminant in question. The study points out that the choice of methodology to characterize the relation between contaminant concentration and a pre-defined risk criterion is governed by a conceptual perception of the contaminant's spatial distribution and also depends on the structure of collected data (observations). How uncertainty in transition from contaminant concentration into risk criterion can be quantified was demonstrated by applying hypothesis tests and the concept of

  3. Strategic Risk Assessment: A Decision Tool for Complex Decisions

    Energy Technology Data Exchange (ETDEWEB)

    Pollard, Simon; Duarte-Davidson, Raquel; Yearsley, Roger [Environment Agency, London (United Kingdom). National Centre for Risk Analysis and Options Appraisal; Kemp, Ray; Crawford, Mark [Galson Sciences Limited, Oakham (United Kingdom)

    2001-07-01

    Reporting on the state of the environment often requires policy makers and regulators to prioritise a range of diverse environmental issues for the purpose of directing future action on environmental protection and improvement. Information on environmental issues to inform this type of analysis can be disparate, it may be too voluminous or even absent. Data on a range of issues are rarely presented in a common format that allows easy comparison. Nevertheless, strategic judgements are required on the significance of impacts from various environmental pressures and on the inherent uncertainties. Prioritising issues forces a discussion among stakeholders of the relative significance of 'environmental harm' from pressures acting on various receptors in the environment. Discussions of this sort rapidly evolve into a discourse on risks and values. In an attempt to help systematise these discussions and provide practical tools for the analysis of environmental risks at a strategic level, the Environment Agency of England and Wales has initiated developmental research on strategic risk assessment. The tools developed under this research use the concept of 'environmental harm' as a common currency, viewed from technical, social and economic perspectives, to analyse impacts from a range of environmental pressures. Critical to an informed debate is an understanding and analysis both of the various characteristics of harm (spatial and temporal extent, reversibility, latency, etc.) and of the social response to the actual or potential environmental harm. Recent developments in this approach allow a presentation of the analysis in a structured fashion so as to better inform risk management decisions. Here, we present recent developments in the strategic risk assessment research tool, as tested by case studies from state of the environment reporting and the analysis of a regional environmental plan. We discuss its relative advantages and limitations and its

  4. Strategic Risk Assessment: A Decision Tool for Complex Decisions

    International Nuclear Information System (INIS)

    Pollard, Simon; Duarte-Davidson, Raquel; Yearsley, Roger

    2001-01-01

    Reporting on the state of the environment often requires policy makers and regulators to prioritise a range of diverse environmental issues for the purpose of directing future action on environmental protection and improvement. Information on environmental issues to inform this type of analysis can be disparate, it may be too voluminous or even absent. Data on a range of issues are rarely presented in a common format that allows easy comparison. Nevertheless, strategic judgements are required on the significance of impacts from various environmental pressures and on the inherent uncertainties. Prioritising issues forces a discussion among stakeholders of the relative significance of 'environmental harm' from pressures acting on various receptors in the environment. Discussions of this sort rapidly evolve into a discourse on risks and values. In an attempt to help systematise these discussions and provide practical tools for the analysis of environmental risks at a strategic level, the Environment Agency of England and Wales has initiated developmental research on strategic risk assessment. The tools developed under this research use the concept of 'environmental harm' as a common currency, viewed from technical, social and economic perspectives, to analyse impacts from a range of environmental pressures. Critical to an informed debate is an understanding and analysis both of the various characteristics of harm (spatial and temporal extent, reversibility, latency, etc.) and of the social response to the actual or potential environmental harm. Recent developments in this approach allow a presentation of the analysis in a structured fashion so as to better inform risk management decisions. Here, we present recent developments in the strategic risk assessment research tool, as tested by case studies from state of the environment reporting and the analysis of a regional environmental plan. We discuss its relative advantages and limitations and its wider potential role

  5. Screening mammography. A risk versus risk decision

    International Nuclear Information System (INIS)

    Ritenour, E.R.; Hendee, W.R.

    1989-01-01

    The potential risk of a radiologic procedure often is compared with the potential benefit of the procedure. While risk vs. benefit analysis has been useful as a step toward increased communication and understanding among radiologists, referring physicians, and the general public, it has the disadvantage that risk and benefit are fundamentally different quantities. Hence, their juxtaposition for purposes of comparison presents contextual difficulties. In this article, the concept is presented of comparing the risk of doing a procedure with the risk of choosing not to do the procedure. An example of risk vs. risk analysis of screening mammography for women over the age of 50 is given, with the conclusion that the risk of having yearly mammograms is less than 1/10 the risk of early death caused by failure to diagnose breast cancer by x-ray mammography. This approach to risk analysis would yield interesting data for examinations that are part of more complicated diagnostic pathways.19 references

  6. Risk and Soviet Security Decisions

    National Research Council Canada - National Science Library

    Hull, Andrew

    1990-01-01

    .... There are several exceptions to general Soviet risk aversion in using military power. But in each instance, the Soviet Union has fared rather badly when it chanced large risks in pursuit of correspondingly high potential gains...

  7. Considering Risk and Resilience in Decision-Making

    Science.gov (United States)

    Torres-Pomales, Wilfredo

    2015-01-01

    This paper examines the concepts of decision-making, risk analysis, uncertainty and resilience analysis. The relation between risk, vulnerability, and resilience is analyzed. The paper describes how complexity, uncertainty, and ambiguity are the most critical factors in the definition of the approach and criteria for decision-making. Uncertainty in its various forms is what limits our ability to offer definitive answers to questions about the outcomes of alternatives in a decision-making process. It is shown that, although resilience-informed decision-making would seem fundamentally different from risk-informed decision-making, this is not the case as resilience-analysis can be easily incorporated within existing analytic-deliberative decision-making frameworks.

  8. Decision principles derived from risk measures

    NARCIS (Netherlands)

    Goovaerts, M.J.; Kaas, R.; Laeven, R.J.A.

    2010-01-01

    In this paper, we argue that a distinction exists between risk measures and decision principles. Though both are functionals assigning a real number to a random variable, we think there is a hierarchy between the two concepts. Risk measures operate on the first "level", quantifying the risk in the

  9. Symposium on risk assessment and adoption of decisions: VALDOR-2001

    International Nuclear Information System (INIS)

    Kovalevich, O.M.

    2001-01-01

    The symposium was held in Stockholm (Sweden), 9 - 15 June 2001. Reports involved following fundamental problems: prospects for radioactive waste management, investigations into risk control, risk control and regulations, bases for risk assessment, the role of mass media and participation of the community in adoption of complex decisions. Much attention at the symposium is given to radioactive wastes, radiation sources, risk of chemical plants and risk assessment in biotechnology. Practically all reports were devoted to relations with the community [ru

  10. Decision-making Under Risk in Children, Adolescents, and Adults

    Directory of Open Access Journals (Sweden)

    David ePaulsen

    2011-04-01

    Full Text Available Adolescents often make risky and impulsive decisions. Such behavior has led to the common assumption that a dysfunction in risk-related decision-making peaks during this age. Differences in how risk has been defined across studies, however, make it difficult to draw conclusions about developmental changes in risky decision-making. Here, we developed a non-symbolic economic decision-making task that can be used across a wide age span and that uses coefficient of variation (CV in reward as an index of risk. We found that young children showed the strongest preference for risky compared to sure bet options of equal expected value, adolescents were intermediate in their risk preference, and young adults showed the strongest risk aversion. Furthermore, children’s preference for the risky option increased for larger CVs, while adolescents and young adults showed the opposite pattern, favoring the sure bet more often as CV increased. Finally, when faced with two gambles in a risk-return tradeoff, all three age groups exhibited a greater preference for the option with the lower risk and return as the disparity in risk between the two options increased. These findings demonstrate clear age-related differences in economic risk preferences that vary with choice set and risk. Importantly, adolescence appears to represent an intermediate decision-making phenotype along the transition from childhood to adulthood, rather than an age of heightened preference for economic risk.

  11. Perceptions of LWR risk for decision making

    International Nuclear Information System (INIS)

    Young, J.; Asselin, S.

    1984-01-01

    The Industry Degraded Core (IDCOR) Program was designed to develop a comprehensive, technically sound position on the issues related to potential accidents in light water reactors. One of the goals is to acquire knowledge and data so that a more realistic approach to the problem is possible. Some of the IDCOR tasks develop information in a Probabilistic Risk Assessment (PRA) framework. The PRA approach is structured upon reliability characteristics for individual components, such as pumps, valves and relays, which can be used to predict the frequency of system failures. System failure combinations can then be used to predict the probability of undesirable plant response to given initiating events. The IDCOR PRA tasks provide a significant amount of information related to the response of the plant to severe accidents. This information has been derived in a logical and consistent manner and so provides a coherent and rational basis for decision-making

  12. VALDOR. Values in decisions on risk. Proceedings

    International Nuclear Information System (INIS)

    Andersson, Kjell

    1999-12-01

    This symposium is devoted to decision-making in controversial projects, specifically the need for transparency in risk assessment and decision processes. It should support the further development of transparent decision processes through contribution and cross-fertilisation between different areas of decision making. The sponsoring organisations of the symposium are all active in radioactive waste management, in which risk assessment is a key function. Traditionally, risk assessment has been the domain solely of experts in the different areas of science and technology. However, as radioactive waste programmes in the various countries proceed toward decisions on, for example, site selection, local communities and members of the public are becoming increasingly involved. We must appreciate that moral and ethical values held by individuals and societies in general are equally important as impersonal factual considerations. This is why the name VALDOR, meaning VALues in Decisions On Risk, has been chosen for the symposium. We may even discover that some of the underlying assumptions in seemingly neutral risk assessments are based on value judgements. It is crucial to have procedures that to the extent possible can identify the factual issues and the value issues in the decision-making process. The controversy surrounding the long-term disposal of radioactive waste provides opportunity for discussing these issues. Such discussions, however, should not be limited to radioactive waste, since the issues are relevant to decision making in modern society in a much broader context. Our hope is therefore that the symposium will draw participants also from other areas where decision-making depends on a multitude of disciplines and values. The ultimate goal will be to look at ways to develop more transparent decision processes in a democratic society. We hope the meeting will lead us in this direction. (48 conference contributions have been separately indexed)

  13. Alternative measures of risk of extreme events in decision trees

    International Nuclear Information System (INIS)

    Frohwein, H.I.; Lambert, J.H.; Haimes, Y.Y.

    1999-01-01

    A need for a methodology to control the extreme events, defined as low-probability, high-consequence incidents, in sequential decisions is identified. A variety of alternative and complementary measures of the risk of extreme events are examined for their usability as objective functions in sequential decisions, represented as single- or multiple-objective decision trees. Earlier work had addressed difficulties, related to non-separability, with the minimization of some measures of the risk of extreme events in sequential decisions. In an extension of these results, it is shown how some non-separable measures of the risk of extreme events can be interpreted in terms of separable constituents of risk, thereby enabling a wider class of measures of the risk of extreme events to be handled in a straightforward manner in a decision tree. Also for extreme events, results are given to enable minimax- and Hurwicz-criterion analyses in decision trees. An example demonstrates the incorporation of different measures of the risk of extreme events in a multi-objective decision tree. Conceptual formulations for optimizing non-separable measures of the risk of extreme events are identified as an important area for future investigation

  14. Decreasing relative risk premium

    DEFF Research Database (Denmark)

    Hansen, Frank

    2007-01-01

    such that the corresponding relative risk premium is a decreasing function of present wealth, and we determine the set of associated utility functions. We find a new characterization of risk vulnerability and determine a large set of utility functions, closed under summation and composition, which are both risk vulnerable...

  15. INTERIM REPORT IMPROVED METHODS FOR INCORPORATING RISK IN DECISION MAKING

    Energy Technology Data Exchange (ETDEWEB)

    Clausen, M. J.; Fraley, D. W.; Denning, R. S.

    1980-08-01

    This paper reports observations and preliminary investigations in the first phase of a research program covering methodologies for making safety-related decisions. The objective has been to gain insight into NRC perceptions of the value of formal decision methods, their possible applications, and how risk is, or may be, incorporated in decision making. The perception of formal decision making techniques, held by various decision makers, and what may be done to improve them, were explored through interviews with NRC staff. An initial survey of decision making methods, an assessment of the applicability of formal methods vis-a-vis the available information, and a review of methods of incorporating risk and uncertainty have also been conducted.

  16. Low Dose Risk, Decisions, and Risk Communication

    International Nuclear Information System (INIS)

    Flynn, James

    2002-01-01

    The overall research objective was to establish new levels of information about how people, groups, and communities respond to low dose radiation exposure. This is basic research into the social psychology of individual, group, and community responses to radiation exposures. The results of this research are directed to improving risk communication and public participation in management of environmental problems resulting from low dose radiation

  17. LOW DOSE RISK, DECISIONS, and RISK COMMUNICATION

    International Nuclear Information System (INIS)

    Flynn, James

    2002-01-01

    The objective of this project is to conduct basic research on how people receive, evaluate, and form positions on scientific information and its relationship to low-dose radiation exposure. There are three major areas of study in our research program. First is the development of theories, frameworks and concepts essential to guiding data collection and analysis. The second area is a program of experimental studies on risk perception, evaluation of science information, and the structure of individual positions regarding low-dose exposures. Third is the community-level studies to examine and record how the social conditions, under which science communications take place, influence the development of attitudes and opinions about: low-dose exposures, the available management options, control of radiation risks, and preferences for program and policy goals

  18. Assessment of major nuclear technologies with decision and risk analysis

    International Nuclear Information System (INIS)

    Winterfeldt, D. von

    1995-01-01

    Selecting technologies for major nuclear programs involves several complexities, including multiple stakeholders, multiple conflicting objectives, uncertainties, and risk. In addition, the programmatic risks related to the schedule, cost, and performance of these technologies often become major issues in the selection process. This paper describes a decision analysis approach for addressing these complexities in a logical manner

  19. NASA Risk-Informed Decision Making Handbook

    Science.gov (United States)

    Dezfuli, Homayoon; Stamatelatos, Michael; Maggio, Gaspare; Everett, Christopher; Youngblood, Robert; Rutledge, Peter; Benjamin, Allan; Williams, Rodney; Smith, Curtis; Guarro, Sergio

    2010-01-01

    This handbook provides guidance for conducting risk-informed decision making in the context of NASA risk management (RM), with a focus on the types of direction-setting key decisions that are characteristic of the NASA program and project life cycles, and which produce derived requirements in accordance with existing systems engineering practices that flow down through the NASA organizational hierarchy. The guidance in this handbook is not meant to be prescriptive. Instead, it is meant to be general enough, and contain a sufficient diversity of examples, to enable the reader to adapt the methods as needed to the particular decision problems that he or she faces. The handbook highlights major issues to consider when making decisions in the presence of potentially significant uncertainty, so that the user is better able to recognize and avoid pitfalls that might otherwise be experienced.

  20. Do students use contextual protective behaviors to reduce alcohol-related sexual risk? Examination of a dual-process decision-making model.

    Science.gov (United States)

    Scaglione, Nichole M; Hultgren, Brittney A; Reavy, Racheal; Mallett, Kimberly A; Turrisi, Rob; Cleveland, Michael J; Sell, Nichole M

    2015-09-01

    Recent studies suggest drinking protective behaviors (DPBs) and contextual protective behaviors (CPBs) can uniquely reduce alcohol-related sexual risk in college students. Few studies have examined CPBs independently, and even fewer have utilized theory to examine modifiable psychosocial predictors of students' decisions to use CPBs. The current study used a prospective design to examine (a) rational and reactive pathways and psychosocial constructs predictive of CPB use and (b) how gender might moderate these influences in a sample of college students. Students (n = 508) completed Web-based baseline (mid-Spring semester) and 1- and 6-month follow-up assessments of CPB use; psychosocial constructs (expectancies, normative beliefs, attitudes, and self-concept); and rational and reactive pathways (intentions and willingness). Regression was used to examine rational and reactive influences as proximal predictors of CPB use at the 6-month follow-up. Subsequent path analyses examined the effects of psychosocial constructs, as distal predictors of CPB use, mediated through the rational and reactive pathways. Both rational (intentions to use CPB) and reactive (willingness to use CPB) influences were significantly associated with increased CPB use. The examined distal predictors were found to effect CPB use differentially through the rational and reactive pathways. Gender did not significantly moderate any relationships within in the model. Findings suggest potential entry points for increasing CPB use that include both rational and reactive pathways. Overall, this study demonstrates the mechanisms underlying how to increase the use of CPBs in programs designed to reduce alcohol-related sexual consequences and victimization. (c) 2015 APA, all rights reserved).

  1. Supplementing quantitative risk assessments with a stage addressing the risk understanding of the decision maker

    International Nuclear Information System (INIS)

    Aven, Terje

    2016-01-01

    A quantitative probabilistic risk assessment produces a conditional risk description given the knowledge of the analysts (formulated to a large extent through assumptions). However, important aspects of the risk may be concealed in the background knowledge of the analyst and the assumptions. This paper discusses this issue, the main purpose being to present a two-stage risk assessment approach where the second stage addresses the risk understanding of the decision maker. This second-stage is to a large extent qualitative. The approach is novel with its separation between the analysts' conditional risk descriptions using probability judgments, and the decision maker's risk understanding. The approach aims at improving the use of risk assessment in practical decision making by ensuring that the results of the risk assessments are properly interpreted and the key aspects of risk, uncertainty and knowledge are brought to attention for the decision makers. Examples are used to illustrate the approach. - Highlights: • A quantitative risk assessment produces a conditional risk description. • The decision maker (DM) needs to address risk beyond this description. • The paper presents a related two-stage process, covering analyst and DM judgments. • The second stage relates to the DM's risk understanding. • Strength of knowledge judgments are included in both stages.

  2. Risk assessment and clinical decision making for colorectal cancer screening.

    Science.gov (United States)

    Schroy, Paul C; Caron, Sarah E; Sherman, Bonnie J; Heeren, Timothy C; Battaglia, Tracy A

    2015-10-01

    Shared decision making (SDM) related to test preference has been advocated as a potentially effective strategy for increasing adherence to colorectal cancer (CRC) screening, yet primary care providers (PCPs) are often reluctant to comply with patient preferences if they differ from their own. Risk stratification advanced colorectal neoplasia (ACN) provides a rational strategy for reconciling these differences. To assess the importance of risk stratification in PCP decision making related to test preference for average-risk patients and receptivity to use of an electronic risk assessment tool for ACN to facilitate SDM. Mixed methods, including qualitative key informant interviews and a cross-sectional survey. PCPs at an urban, academic safety-net institution. Screening preferences, factors influencing patient recommendations and receptivity to use of a risk stratification tool. Nine PCPs participated in interviews and 57 completed the survey. Despite an overwhelming preference for colonoscopy by 95% of respondents, patient risk (67%) and patient preferences (63%) were more influential in their decision making than patient comorbidities (31%; P decision making, yet few providers considered risk factors other than age for average-risk patients. Providers were receptive to the use of a risk assessment tool for ACN when recommending an appropriate screening test for select patients. © 2013 John Wiley & Sons Ltd.

  3. Safety-related decision making at a nuclear power plant

    International Nuclear Information System (INIS)

    Vaurio, J.K.

    1998-01-01

    The decision making environment of an operating nuclear power plant is presented. The organizations involved, their roles and interactions as well as the main influencing factors and decision criteria are described. The focus is on safety-related decisions, and the framework is based on the situation at Loviisa power station. The role of probabilistic safety assessment (PSA) is illustrated with decisions concerning plant modifications, optimization, acceptance of temporary configurations and extended repair times. Suggestions are made for rational and flexible risk-based control of allowed times to operate the plant with some components out of service. (orig.)

  4. Fuel related risks; Braenslerisker

    Energy Technology Data Exchange (ETDEWEB)

    Englund, Jessica; Sernhed, Kerstin; Nystroem, Olle; Graveus, Frank (Grontmij AB, (Sweden))

    2012-02-15

    The project, within which this work report was prepared, aimed to complement the Vaermeforsk publication 'Handbook of fuels' on fuel related risks and measures to reduce the risks. The fuels examined in this project where the fuels included in the first version of the handbook from 2005 plus four additional fuels that will be included in the second and next edition of the handbook. Following fuels were included: woodfuels (sawdust, wood chips, powder, briquettes), slash, recycled wood, salix, bark, hardwood, stumps, straw, reed canary grass, hemp, cereal, cereal waste, olive waste, cocoa beans, citrus waste, shea, sludge, forest industrial sludge, manure, Paper Wood Plastic, tyre, leather waste, cardboard rejects, meat and bone meal, liquid animal and vegetable wastes, tall oil pitch, peat, residues from food industry, biomal (including slaughterhouse waste) and lignin. The report includes two main chapters; a general risk chapter and a chapter of fuel specific risks. The first one deals with the general concept of risk, it highlights laws and rules relevant for risk management and it discuss general risks that are related to the different steps of fuel handling, i.e. unloading, storing, processing the fuel, transportation within the facility, combustion and handling of ashes. The information that was used to produce this chapter was gathered through a literature review, site visits, and the project group's experience from risk management. The other main chapter deals with fuel-specific risks and the measures to reduce the risks for the steps of unloading, storing, processing the fuel, internal transportation, combustion and handling of the ashes. Risks and measures were considered for all the biofuels included in the second version in the handbook of fuels. Information about the risks and risk management was gathered through interviews with people working with different kinds of fuels in electricity and heat plants in Sweden. The information from

  5. Risk - Informed decision making at Loviisa NPP

    Energy Technology Data Exchange (ETDEWEB)

    Vaurio, J.K. [Fortum Power and Heat Oy, Loviisa (Finland)

    1999-09-01

    PSA has been used in many ways for risk-informed decision making at Loviisa power station. The most fruitful areas so far include: 1) Identification of dominating risk contributors and possible means for reducing risk by plant modification and improved procedures. 2) Providing risk perspective and economic criteria for assessing backfitting proposals. 3) Assessing the significance of ageing and needs for renewals. 4) Limiting, prioritising and optimising plant modifications. 5) Reducing testing requirements. 6) Justification of temporary aswell as permanent configurations and extended outage times. 7) Planning and prioritisation of training programs. (au)

  6. Risk - Informed decision making at Loviisa NPP

    International Nuclear Information System (INIS)

    Vaurio, J.K.

    1999-01-01

    PSA has been used in many ways for risk-informed decision making at Loviisa power station. The most fruitful areas so far include: 1) Identification of dominating risk contributors and possible means for reducing risk by plant modification and improved procedures. 2) Providing risk perspective and economic criteria for assessing backfitting proposals. 3) Assessing the significance of ageing and needs for renewals. 4) Limiting, prioritising and optimising plant modifications. 5) Reducing testing requirements. 6) Justification of temporary as well as permanent configurations and extended outage times. 7) Planning and prioritisation of training programs. (au)

  7. Risk Management and Insurance Decisions under Ambiguity

    DEFF Research Database (Denmark)

    Martínez-Correa, Jimmy

    I study the impact of ambiguity on insurance decisions and the optimality of insurance contracts. My tractable approach allows me to study the interaction between risk and ambiguity attitudes. When insurance decisions are made independently of other assets, for a given increase in wealth, both risk...... portfolio theory that assumes Subjective Expected Utility theory; however, it provides hints to a possible solution of the under-diversification puzzle of households. I also identify conditions under which more risk or ambiguity aversion decreases the demand for coinsurance. Additionally, I show...... a counterexample to a classical result in insurance economics where an insurance contract with straight deductible is dominated by a coinsurance contract. Finally, I find that a modified Borch rule characterizes the optimal insurance contract with bilateral risk and ambiguity attitudes and heterogeneity in beliefs....

  8. Decision-Making Competence Predicts Domain-Specific Risk Attitudes

    Directory of Open Access Journals (Sweden)

    Joshua eWeller

    2015-05-01

    Full Text Available Decision Making Competence (DMC reflects individual differences in rational responding across several classic behavioral decision-making tasks. Although it has been associated with real-world risk behavior, less is known about the degree to which DMC contributes to specific components of risk attitudes. Utilizing a psychological risk-return framework, we examined the associations between risk attitudes and DMC. Italian community residents (n = 804 completed an online DMC measure, using a subset of the original Adult-DMC battery (A-DMC; Bruine de Bruin, Parker, & Fischhoff, 2007. Participants also completed a self-reported risk attitude measure for three components of risk attitudes (risk-taking, risk perceptions, and expected benefits across six risk domains. Overall, greater performance on the DMC component scales were inversely, albeit modestly, associated with risk-taking tendencies. Structural equation modeling results revealed that DMC was associated with lower perceived expected benefits for all domains. In contrast, its association with perceived risks was more domain-specific. These analyses also revealed stronger indirect effects for the DMC  expected benefits  risk-taking than the DMC  perceived riskrisk-taking path, especially for risk behaviors that may be considered more antisocial in nature. These results suggest that DMC performance differentially impacts specific components of risk attitudes, and may be more strongly related to the evaluation of expected value of the given behavior.

  9. The neural bases underlying social risk perception in purchase decisions.

    Science.gov (United States)

    Yokoyama, Ryoichi; Nozawa, Takayuki; Sugiura, Motoaki; Yomogida, Yukihito; Takeuchi, Hikaru; Akimoto, Yoritaka; Shibuya, Satoru; Kawashima, Ryuta

    2014-05-01

    Social considerations significantly influence daily purchase decisions, and the perception of social risk (i.e., the anticipated disapproval of others) is crucial in dissuading consumers from making purchases. However, the neural basis for consumers' perception of social risk remains undiscovered, and this novel study clarifies the relevant neural processes. A total of 26 volunteers were scanned while they evaluated purchase intention of products (purchase intention task) and their anticipation of others' disapproval for possessing a product (social risk task), using functional magnetic resonance imaging (fMRI). The fMRI data from the purchase intention task was used to identify the brain region associated with perception of social risk during purchase decision making by using subjective social risk ratings for a parametric modulation analysis. Furthermore, we aimed to explore if there was a difference between participants' purchase decisions and their explicit evaluations of social risk, with reference to the neural activity associated with social risk perception. For this, subjective social risk ratings were used for a parametric modulation analysis on fMRI data from the social risk task. Analysis of the purchase intention task revealed a significant positive correlation between ratings of social risk and activity in the anterior insula, an area of the brain that is known as part of the emotion-related network. Analysis of the social risk task revealed a significant positive correlation between ratings of social risk and activity in the temporal parietal junction and the medial prefrontal cortex, which are known as theory-of-mind regions. Our results suggest that the anterior insula processes consumers' social risk implicitly to prompt consumers not to buy socially unacceptable products, whereas ToM-related regions process such risk explicitly in considering the anticipated disapproval of others. These findings may prove helpful in understanding the mental

  10. Catastrophic risk : Social influences on insurance decisions

    NARCIS (Netherlands)

    Krawczyk, Michal; Trautmann, Stefan; van de Kuilen, Gijs

    We study behavioral patterns of insurance demand for low-probability large-loss events (catastrophic losses). Individual patterns of belief formation and risk attitude that were suggested in the behavioral decisions literature emerge robustly in the current set of insurance choices. However, social

  11. Participatory Risk Assessment for Environmental Decision-Making

    International Nuclear Information System (INIS)

    Homan, Jacqueline; Petts, Judith

    2001-01-01

    Recent research, discussion and practice in the role environmental decision-making as an integral part of a democratic society have resulted in legislation, policy and guidance that encourage, and indeed may require, greater participation. The focus of this research paper is to explore these participatory ideas in the context of environmental risk assessment. Participation methods have generic application. However, the importance of fitting method to purpose requires that different contexts and issues relative to the objectives be addressed. In relation to environmental risk assessment these issues include: the complexity of risk issues per se; the inherent uncertainty that dominates any risk assessment; the quantitative nature of many risk assessments and the difficulty of dealing with low probability-high consequence outconies; the possibility of controversy in relation to decisions involving risk and thus the careful attention needed to the process and identification of participants; the traditional role and culture of experts in risk decisions and the challenge of reconciling this with the role of lay knowledge and the potential for the public to act as quality assurers in the risk decision process; the tendency for people to need reassurance when confronted with risk, even during a participation process; the need to acknowledge the public's ability to deal with complex technical issues and the need for information and data to respond to their questions, and the fact that 'risk' per se will often not be the only issue of public concern. The contributions to the risk debate from the social sciences are having considerable influence on the practice of environmental decision-making. Calls for increased stakeholder involvement in risk decisions are requiring greater access to and engagement with environmental risk assessments. Mechanisms for this level of involvement, however, are not well defined. For these aspirational calls to be realised in practice, decision

  12. Participatory Risk Assessment for Environmental Decision-Making

    Energy Technology Data Exchange (ETDEWEB)

    Homan, Jacqueline; Petts, Judith [Univ. of Birmingham (United Kingdom). Centre for Environmental Research and Training; Pollard, Simon; Twigger-Ross, Clare [National Centre for Risk Analysis and Options Appraisal, London (United Kingdom)

    2001-07-01

    Recent research, discussion and practice in the role environmental decision-making as an integral part of a democratic society have resulted in legislation, policy and guidance that encourage, and indeed may require, greater participation. The focus of this research paper is to explore these participatory ideas in the context of environmental risk assessment. Participation methods have generic application. However, the importance of fitting method to purpose requires that different contexts and issues relative to the objectives be addressed. In relation to environmental risk assessment these issues include: the complexity of risk issues per se; the inherent uncertainty that dominates any risk assessment; the quantitative nature of many risk assessments and the difficulty of dealing with low probability-high consequence outconies; the possibility of controversy in relation to decisions involving risk and thus the careful attention needed to the process and identification of participants; the traditional role and culture of experts in risk decisions and the challenge of reconciling this with the role of lay knowledge and the potential for the public to act as quality assurers in the risk decision process; the tendency for people to need reassurance when confronted with risk, even during a participation process; the need to acknowledge the public's ability to deal with complex technical issues and the need for information and data to respond to their questions, and the fact that 'risk' per se will often not be the only issue of public concern. The contributions to the risk debate from the social sciences are having considerable influence on the practice of environmental decision-making. Calls for increased stakeholder involvement in risk decisions are requiring greater access to and engagement with environmental risk assessments. Mechanisms for this level of involvement, however, are not well defined. For these aspirational calls to be realised in

  13. Risk Decision Making Model for Reservoir Floodwater resources Utilization

    Science.gov (United States)

    Huang, X.

    2017-12-01

    Floodwater resources utilization(FRU) can alleviate the shortage of water resources, but there are risks. In order to safely and efficiently utilize the floodwater resources, it is necessary to study the risk of reservoir FRU. In this paper, the risk rate of exceeding the design flood water level and the risk rate of exceeding safety discharge are estimated. Based on the principle of the minimum risk and the maximum benefit of FRU, a multi-objective risk decision making model for FRU is constructed. Probability theory and mathematical statistics method is selected to calculate the risk rate; C-D production function method and emergy analysis method is selected to calculate the risk benefit; the risk loss is related to flood inundation area and unit area loss; the multi-objective decision making problem of the model is solved by the constraint method. Taking the Shilianghe reservoir in Jiangsu Province as an example, the optimal equilibrium solution of FRU of the Shilianghe reservoir is found by using the risk decision making model, and the validity and applicability of the model are verified.

  14. Risks, values, and decision making surrounding pregnancy.

    Science.gov (United States)

    Lyerly, Anne Drapkin; Mitchell, Lisa M; Armstrong, Elizabeth M; Harris, Lisa H; Kukla, Rebecca; Kuppermann, Miriam; Little, Margaret Olivia

    2007-04-01

    Assessing, communicating, and managing risk are among the most challenging tasks in the practice of medicine and are particularly difficult in the context of pregnancy. We analyze common scenarios in medical decision making around pregnancy, from reproductive health policy and clinical care to research protections. We describe three tendencies in these scenarios: 1) to consider the probabilities of undesirable outcomes alone, in isolation from women's values and social contexts, as determinative of individual clinical decisions and health policy; 2) to regard any risk to the fetus, including incremental risks that would in other contexts be regarded as acceptable, as trumping considerations that may be substantially more important to the wellbeing of the pregnant woman; and 3) to focus on the risks associated with undertaking medical interventions during pregnancy to the exclusion of demonstrable risks to both woman and fetus of failing to intervene. These tendencies in the perception, communication, and management of risk can lead to care that is neither evidence-based nor patient-centered, often to the detriment of both women and infants.

  15. The Profitability – Risk Relationship and Financing Decision

    Directory of Open Access Journals (Sweden)

    Nicoleta BARBUTA-MISU

    2007-01-01

    Full Text Available The enterprise financial decision is a rational process for option to the optimal variant related to financing and investments. For the capital investment to be justified, the profitability of the invested money must be at least equal with the profitability of the alternative investment opportunities with the same risk on market. The choosing of a way for financing is determined on the one side by their cost and on the other side by the existent capital structure. In this paper I tried to analyse the profitability – risk relationship in the financing decision for the “NIKOS” Ltd.

  16. Responsibility, guilt, and decision under risk.

    Science.gov (United States)

    Mancini, Francesco; Gangemi, Amelia

    2003-12-01

    We hypothesize that individuals' choices (risk-seeking/risk-aversion) depend on moral values and, in particular, on how subjects evaluate themselves as guilty or as victims of a wrong rather than on the descriptions of the outcomes as given in the options and evaluated accordingly as gains or losses (framing effect). People who evaluate themselves as victims are expected to show a risk-seeking preference (context of innocence). People who evaluate themselves as guilty are expected to show a risk-averse preference (context of guilt). Responses of 232 participants to a decision problem were compared in four different conditions involving two-story formats (innocence/guilt) and two-question-options formats (gain/loss). Regardless of the format of the question options, the story format appears to be an important determinant of individuals' preferences.

  17. Achieving a Risk-Informed Decision-Making Environment at NASA: The Emphasis of NASA's Risk Management Policy

    Science.gov (United States)

    Dezfuli, Homayoon

    2010-01-01

    This slide presentation reviews the evolution of risk management (RM) at NASA. The aim of the RM approach at NASA is to promote an approach that is heuristic, proactive, and coherent across all of NASA. Risk Informed Decision Making (RIDM) is a decision making process that uses a diverse set of performance measures along with other considerations within a deliberative process to inform decision making. RIDM is invoked for key decisions such as architecture and design decisions, make-buy decisions, and budget reallocation. The RIDM process and how it relates to the continuous Risk Management (CRM) process is reviewed.

  18. Risk Aversion Relates to Cognitive Ability

    DEFF Research Database (Denmark)

    Andersson, Ola; Holm, Håkan J.; Tyran, Jean-Robert Karl

    2016-01-01

    Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with choice...... tasks that vary the bias induced by random choices, we are able to generate both negative and positive correlations between risk aversion and cognitive ability. Structural estimation allowing for heterogeneity of noise yields no significant relation between risk aversion and cognitive ability. Our...... results suggest that cognitive ability is related to random decision making, rather than to risk preferences....

  19. Risk aversion relates to cognitive ability

    DEFF Research Database (Denmark)

    Andersson, Ola; Holm, Håkan J.; Tyran, Jean-Robert Karl

    Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we report evidence that this relation might be spurious. We recruit a large subject pool drawn from the general Danish population for our experiment. By presenting subjects with choice...... tasks that vary the bias induced by random choices, we are able to generate both negative and positive correlations between risk aversion and cognitive ability. Structural estimation allowing for heterogeneity of noise yields no significant relation between risk aversion and cognitive ability. Our...... results suggest that cognitive ability is related to random decision making rather than to risk preferences....

  20. Perceptions of health risk and smoking decisions of young people.

    Science.gov (United States)

    Gerking, Shelby; Khaddaria, Raman

    2012-07-01

    Using the Annenberg Perception of Tobacco Risk Survey 2, this paper finds that perceived risk deters smoking among persons aged 14-22 years who think that it is relatively difficult to quit smoking and that onset of deleterious health effects occurs relatively quickly. Perceived health risk, however, does not affect the smoking status of young people who hold the opposite beliefs. These results are consistent with predictions of rational addiction models and suggest that young people, who view smoking as more addictive and health effects as more immediate, may have greater incentive to consider long-term health effects in their decision to smoke. Copyright © 2011 John Wiley & Sons, Ltd.

  1. The treatment of uncertainties in risk for regulatory decision making

    International Nuclear Information System (INIS)

    Baybutt, P.; Cox, D.C.; Denning, R.S.; Kurth, R.E.; Fraley, D.W.; Heaberlin, S.W.

    1982-01-01

    This paper describes research conducted in an ongoing program at Battelle to develop and adapt decision analysis methods for regulatory decision making. A general approach to risk-based decision making is discussed. The nature of uncertainties in risk assessment is described and methods for their inclusion in decision making are proposed. The use of decision analysis methods in regulatory decision making and the consideration of uncertainties is illustrated in a realistic case study

  2. Risk analysis as a decision tool

    International Nuclear Information System (INIS)

    Yadigaroglu, G.; Chakraborty, S.

    1985-01-01

    From 1983 - 1985 a lecture series entitled ''Risk-benefit analysis'' was held at the Swiss Federal Institute of Technology (ETH), Zurich, in cooperation with the Central Department for the Safety of Nuclear Installations of the Swiss Federal Agency of Energy Economy. In that setting the value of risk-oriented evaluation models as a decision tool in safety questions was discussed on a broad basis. Experts of international reputation from the Federal Republic of Germany, France, Canada, the United States and Switzerland have contributed to report in this joint volume on the uses of such models. Following an introductory synopsis on risk analysis and risk assessment the book deals with practical examples in the fields of medicine, nuclear power, chemistry, transport and civil engineering. Particular attention is paid to the dialogue between analysts and decision makers taking into account the economic-technical aspects and social values. The recent chemical disaster in the Indian city of Bhopal again signals the necessity of such analyses. All the lectures were recorded individually. (orig./HP) [de

  3. LOCAL MEASUREMENTS OF THE IMPACT OF QUANTITATIVE AND QUALITATIVE CHARACTERISTICS OF INVESTMENT AND TECHNOLOGICAL DECISIONS ON THE ENVIRONMENT UNDER THE RISK-RELATED CONDITIONS OF MINING INDUSTRY

    Directory of Open Access Journals (Sweden)

    Valentin VELEV

    2010-09-01

    Full Text Available The impact of globalization in a worldwide scale is even more noticeable in the each country during period of world economic crisis due to the differences in the economic status, deformed by the crisis phenomena. In that case, the conflict between global tendencies and local manifestations in the regional aspect of economic phenomena is even more evidently noticeable as a direct reflection of the resource deficiency. The mineral resources are directly related to that process, not only as a first phase of the transformation of the raw material potential for each country, but also as a serious violator of the ecological equilibrium as a result of the applied technologies. Each country is enforced to resolve the various issues related to preserving the own resource potential as much as possible and to subordinate its investment and technological decisions to an integrated and in-depth utilization in compliance with the sustainable development of society

  4. Probabilistic Risk Assessment to Inform Decision Making: Frequently Asked Questions

    Science.gov (United States)

    General concepts and principles of Probabilistic Risk Assessment (PRA), describe how PRA can improve the bases of Agency decisions, and provide illustrations of how PRA has been used in risk estimation and in describing the uncertainty in decision making.

  5. Practical risk-based decision making: Good decisions made efficiently

    International Nuclear Information System (INIS)

    Haire, M.J.; Guthrie, V.; Walker, D.; Singer, R.

    1995-01-01

    The Robotics and Process Systems Division of the Oak Ridge National Laboratory and the Westinghouse Savannah River Company have teamed with JBF Associates, Inc. to address risk-based robotic planning. The objective of the project is to provide systematic, risk-based relative comparisons of competing alternatives for solving clean-up problems at DOE facilities. This paper presents the methodology developed, describes the software developed to efficiently apply the methodology, and discusses the results of initial applications for DOE. The paper also addresses current work in applying the approach to problems in other industries (including an example from the hydrocarbon processing industry)

  6. Handbook on Decision Making Vol 2 Risk Management in Decision Making

    CERN Document Server

    Lu, Jie; Zhang, Guangquan

    2012-01-01

    This book presents innovative theories, methodologies, and techniques in the field of risk management and decision making. It introduces new research developments and provides a comprehensive image of their potential applications to readers interested in the area. The collection includes: computational intelligence applications in decision making, multi-criteria decision making under risk, risk modelling,forecasting and evaluation, public security and community safety, risk management in supply chain and other business decision making, political risk management and disaster response systems. The book is directed to academic and applied researchers working on risk management, decision making, and management information systems.

  7. Epistemic risks: challenges in assessment and decision making

    DEFF Research Database (Denmark)

    Kozine, Igor

    . There are calls to revisions ranging from the definition of risk and stretching to the use of risk analysis results in decision making. The talk will centre in answering the following questions: Why conventional approach to risk analysis is challenged? What are alternatives? How to operationalise the inclusion...... of epistemic uncertainty in risk analysis? How to make decisions based on risk analysis results?...

  8. An Investigation into the Decision Makers's Risk Attitude Index ...

    African Journals Online (AJOL)

    An Investigation into the Decision Makers's Risk Attitude Index Ranking Technique for Fuzzy Critical Path Analysis. ... Nigerian Journal of Technology ... for a benchmark problem, the decision maker's risk attitude index ranking method produces unrealistic results when the decision maker's attitude towards risk was neutral.

  9. Making the decision to mitigate risk

    Science.gov (United States)

    Ingrid M. Martin; Holly Wise Bender; Carol Raish

    2007-01-01

    Why individuals choose to mitigate, downplay, or ignore risk has been a topic of much research over the past 25 years for natural- and human-created risks, such as earthquakes, flooding, smoking, contraceptive use, and alcohol consumption. Wildfire has been a relatively recent focus in the natural hazard literature, perhaps a result of several years of catastrophic...

  10. A Relative Ranking Approach for Nano-Enabled Applications to Improve Risk-Based Decision Making: A Case Study of Army Materiel

    Science.gov (United States)

    2014-12-24

    accidental expo- sures to carbon nanotubes and copper flakes incorporated into energy and obscurant materiel by Army workers rank highest relative to...that inhalation from accidental exposures to carbon nanotubes and copper flakes incorporated into energy and obscurant materiel by Army workers rank... copper (Cu), and titanium (Ti) flakes used in smokes and obscurants ranked the highest on the risk scale for sce- narios primarily involving accidental

  11. Probabilistic Risk Assessment for Decision Making During Spacecraft Operations

    Science.gov (United States)

    Meshkat, Leila

    2009-01-01

    Decisions made during the operational phase of a space mission often have significant and immediate consequences. Without the explicit consideration of the risks involved and their representation in a solid model, it is very likely that these risks are not considered systematically in trade studies. Wrong decisions during the operational phase of a space mission can lead to immediate system failure whereas correct decisions can help recover the system even from faulty conditions. A problem of special interest is the determination of the system fault protection strategies upon the occurrence of faults within the system. Decisions regarding the fault protection strategy also heavily rely on a correct understanding of the state of the system and an integrated risk model that represents the various possible scenarios and their respective likelihoods. Probabilistic Risk Assessment (PRA) modeling is applicable to the full lifecycle of a space mission project, from concept development to preliminary design, detailed design, development and operations. The benefits and utilities of the model, however, depend on the phase of the mission for which it is used. This is because of the difference in the key strategic decisions that support each mission phase. The focus of this paper is on describing the particular methods used for PRA modeling during the operational phase of a spacecraft by gleaning insight from recently conducted case studies on two operational Mars orbiters. During operations, the key decisions relate to the commands sent to the spacecraft for any kind of diagnostics, anomaly resolution, trajectory changes, or planning. Often, faults and failures occur in the parts of the spacecraft but are contained or mitigated before they can cause serious damage. The failure behavior of the system during operations provides valuable data for updating and adjusting the related PRA models that are built primarily based on historical failure data. The PRA models, in turn

  12. Syncope: risk stratification and clinical decision making.

    Science.gov (United States)

    Peeters, Suzanne Y G; Hoek, Amber E; Mollink, Susan M; Huff, J Stephen

    2014-04-01

    Syncope is a common occurrence in the emergency department, accounting for approximately 1% to 3% of presentations. Syncope is best defined as a brief loss of consciousness and postural tone followed by spontaneous and complete recovery. The spectrum of etiologies ranges from benign to life threatening, and a structured approach to evaluating these patients is key to providing care that is thorough, yet cost-effective. This issue reviews the most relevant evidence for managing and risk stratifying the syncope patient, beginning with a focused history, physical examination, electrocardiogram, and tailored diagnostic testing. Several risk stratification decision rules are compared for performance in various scenarios, including how age and associated comorbidities may predict short-term and long-term adverse events. An algorithm for structured, evidence-based care of the syncope patient is included to ensure that patients requiring hospitalization are managed appropriately and those with benign causes are discharged safely.

  13. Stakeholder Risk Management in Ethical Decision Making

    DEFF Research Database (Denmark)

    Lauesen, Linne Marie

    evidence from hybrid organizations as Publicly Owned Enterprises (POEs) mixed of private corporations and political administration. The model offers a new way of combining risk management with ethical decisionmaking processes by the inclusion of multiple stakeholders. Not only does the model apply...... to these kinds of hybrid organizations, but it is easily adopted and tested for other private business models too. The findings and the conceptualization of the model enhances business ethics in decision making by managing and balancing stakeholder concerns with the same concerns as the traditional risk......Stakeholder management has for the last three decades been concerned either with strategic business management or business ethics, values and quality. Many models have been developed, but recently the literature asks for more dynamic models instead of the staticism that characterizes some models...

  14. Decision making in young people at familial risk of depression.

    Science.gov (United States)

    Mannie, Z N; Williams, C; Browning, M; Cowen, P J

    2015-01-01

    Major depression is associated with abnormalities in reward processing at neural and behavioural levels. Neural abnormalities in reward have been described in young people at familial risk of depression but behavioural changes in reward-based decision making have been less studied in this group. We studied 63 young people (mean age 18.9 years) with a parent with a diagnosis of major depression but who had never been depressed themselves, that is with a positive family history of depression (the FH+ group). Participants performed the Cambridge Gambling Task (CGT), which provides several measures of decision making including deliberation time, quality of decision making, risk taking, risk adjustment and delay aversion. A control group of 49 age- and gender-matched young people with no history of mood disorder in a first-degree relative undertook the same task. Both FH+ participants and controls had low and equivalent scores on anxiety and depression self-rating scales. Compared to controls, the FH+ participants showed overall lower risk taking, although like controls they made more risky choices as the odds of a favourable outcome increased. No other measures of decision making differed between the two groups. Young people at increased familial risk of depression have altered risk taking that is not accounted for by current affective symptomatology. Lowered risk taking might represent an impairment in reward seeking, which is one of several changes in reward-based behaviours seen in acutely depressed patients; however, our findings suggest that decreased reward seeking could be part of a risk endophenotype for depression.

  15. Simulating Performance Risk for Lighting Retrofit Decisions

    Directory of Open Access Journals (Sweden)

    Jia Hu

    2015-05-01

    Full Text Available In building retrofit projects, dynamic simulations are performed to simulate building performance. Uncertainty may negatively affect model calibration and predicted lighting energy savings, which increases the chance of default on performance-based contracts. Therefore, the aim of this paper is to develop a simulation-based method that can analyze lighting performance risk in lighting retrofit decisions. The model uses a surrogate model, which is constructed by adaptively selecting sample points and generating approximation surfaces with fast computing time. The surrogate model is a replacement of the computation intensive process. A statistical method is developed to generate extreme weather profile based on the 20-year historical weather data. A stochastic occupancy model was created using actual occupancy data to generate realistic occupancy patterns. Energy usage of lighting, and heating, ventilation, and air conditioning (HVAC is simulated using EnergyPlus. The method can evaluate the influence of different risk factors (e.g., variation of luminaire input wattage, varying weather conditions on lighting and HVAC energy consumption and lighting electricity demand. Probability distributions are generated to quantify the risk values. A case study was conducted to demonstrate and validate the methods. The surrogate model is a good solution for quantifying the risk factors and probability distribution of the building performance.

  16. Goal Setting and Decision Making by At-Risk Youth

    Science.gov (United States)

    Galotti, Kathleen M.; Kozberg, Steven F.; Gustafon, Mary

    2009-01-01

    Typically, adolescence is a time when individuals begin to make consequential, life-framing decisions. However, much of the decision-making literature focuses on high-risk decisions, such as the use of drugs and alcohol, while much less is known about how adolescents make positive decisions, for example, regarding their educational or career…

  17. VALDOR 2006. Values in Decisions on Risk. Proceedings

    International Nuclear Information System (INIS)

    Andersson, Kjell

    2006-09-01

    Risk management, whether related to controversial facilities or the quotidian planning and response to disasters, involves a policy development and decision-making process that affects and is influenced by locally bounded communities (e.g. municipalities) as well as communities of interest (e.g. the business community and the anti-nuclear community). Environmental justice is only possible when all community perspectives are valued and incorporated into the risk management decision-making process. This raises issues of fairness such providing adequate resources for communities and ensuring equitable and fair socio-economic and political contexts. Public participation is widely seen as a means to take into account the different aspects of risk in the decision making processes. However, there are many models for public participation. Furthermore, different ideas for participation correlate with different models of democracy. The Symposium addressed theory and overall approaches as well as practical case studies. It gave insight into the problem of transparency in risk assessment and how procedures can be established to clarify the role of values versus facts, and to build trust. The following four our subject areas were covered by the conference: Nuclear waste management; Cleaning-up and remediation of contaminated sites; Risk assessment of mobile telephone systems; and Issues in biotechnology and food safety. Papers in the two first areas have been separately indexed for the database

  18. Decision process in MCDM with large number of criteria and heterogeneous risk preferences

    Directory of Open Access Journals (Sweden)

    Jian Liu

    Full Text Available A new decision process is proposed to address the challenge that a large number criteria in the multi-criteria decision making (MCDM problem and the decision makers with heterogeneous risk preferences. First, from the perspective of objective data, the effective criteria are extracted based on the similarity relations between criterion values and the criteria are weighted, respectively. Second, the corresponding types of theoretic model of risk preferences expectations will be built, based on the possibility and similarity between criterion values to solve the problem for different interval numbers with the same expectation. Then, the risk preferences (Risk-seeking, risk-neutral and risk-aversion will be embedded in the decision process. Later, the optimal decision object is selected according to the risk preferences of decision makers based on the corresponding theoretic model. Finally, a new algorithm of information aggregation model is proposed based on fairness maximization of decision results for the group decision, considering the coexistence of decision makers with heterogeneous risk preferences. The scientific rationality verification of this new method is given through the analysis of real case. Keywords: Heterogeneous, Risk preferences, Fairness, Decision process, Group decision

  19. A decision model for the risk management of hazardous processes

    International Nuclear Information System (INIS)

    Holmberg, J.E.

    1997-03-01

    A decision model for risk management of hazardous processes as an optimisation problem of a point process is formulated in the study. In the approach, the decisions made by the management are divided into three categories: (1) planned process lifetime, (2) selection of the design and, (3) operational decisions. These three controlling methods play quite different roles in the practical risk management, which is also reflected in our approach. The optimisation of the process lifetime is related to the licensing problem of the process. It provides a boundary condition for a feasible utility function that is used as the actual objective function, i.e., maximizing the process lifetime utility. By design modifications, the management can affect the inherent accident hazard rate of the process. This is usually a discrete optimisation task. The study particularly concentrates upon the optimisation of the operational strategies given a certain design and licensing time. This is done by a dynamic risk model (marked point process model) representing the stochastic process of events observable or unobservable to the decision maker. An optimal long term control variable guiding the selection of operational alternatives in short term problems is studied. The optimisation problem is solved by the stochastic quasi-gradient procedure. The approach is illustrated by a case study. (23 refs.)

  20. Multicriteria Decision Framework for Cybersecurity Risk Assessment and Management.

    Science.gov (United States)

    Ganin, Alexander A; Quach, Phuoc; Panwar, Mahesh; Collier, Zachary A; Keisler, Jeffrey M; Marchese, Dayton; Linkov, Igor

    2017-09-05

    Risk assessors and managers face many difficult challenges related to novel cyber systems. Among these challenges are the constantly changing nature of cyber systems caused by technical advances, their distribution across the physical, information, and sociocognitive domains, and the complex network structures often including thousands of nodes. Here, we review probabilistic and risk-based decision-making techniques applied to cyber systems and conclude that existing approaches typically do not address all components of the risk assessment triplet (threat, vulnerability, consequence) and lack the ability to integrate across multiple domains of cyber systems to provide guidance for enhancing cybersecurity. We present a decision-analysis-based approach that quantifies threat, vulnerability, and consequences through a set of criteria designed to assess the overall utility of cybersecurity management alternatives. The proposed framework bridges the gap between risk assessment and risk management, allowing an analyst to ensure a structured and transparent process of selecting risk management alternatives. The use of this technique is illustrated for a hypothetical, but realistic, case study exemplifying the process of evaluating and ranking five cybersecurity enhancement strategies. The approach presented does not necessarily eliminate biases and subjectivity necessary for selecting countermeasures, but provides justifiable methods for selecting risk management actions consistent with stakeholder and decisionmaker values and technical data. Published 2017. This article is a U.S. Government work and is in the public domain in the U.S.A.

  1. Risk-based decision analysis for groundwater operable units

    International Nuclear Information System (INIS)

    Chiaramonte, G.R.

    1995-01-01

    This document proposes a streamlined approach and methodology for performing risk assessment in support of interim remedial measure (IRM) decisions involving the remediation of contaminated groundwater on the Hanford Site. This methodology, referred to as ''risk-based decision analysis,'' also supports the specification of target cleanup volumes and provides a basis for design and operation of the groundwater remedies. The risk-based decision analysis can be completed within a short time frame and concisely documented. The risk-based decision analysis is more versatile than the qualitative risk assessment (QRA), because it not only supports the need for IRMs, but also provides criteria for defining the success of the IRMs and provides the risk-basis for decisions on final remedies. For these reasons, it is proposed that, for groundwater operable units, the risk-based decision analysis should replace the more elaborate, costly, and time-consuming QRA

  2. The use of comparative risk assessment in decision making

    International Nuclear Information System (INIS)

    Chicken, J.C.; Hayns, M.R.; Tolley, B.

    1989-01-01

    This paper justifies: 1) Comparative risk assessment provides a way of establishing whether or not the risks associated with a novel proposal are likely to satisfy current norms. 2) Comparative risk assessment is an aid to decision making when for some reason there is inadequate quantitative data about the risks associated with a project. 3) One problem is that there is no single universally acceptable norm. Norms vary both with time and from activity to activity. The spread of acceptable norms spans at least two orders of magnitude. 4) For any comparative risk assessment to be considered more than a suggestion on how acceptable a risk is, the risks that are compared must be similar and located in similar cultural and geographical environments. 5) Ulitmately justification of the acceptability of a project must be based on data generated directly by the project itself and any opinion based on comparative evidence must be iteratively revised as direct hard evidence becomes available. 6) Comparative risk assessment has a useful role in presentations to the lay public about the acceptability of a particular risk. 7) There may be more problems in making a comparative assessment of risk acceptability in socio-political terms than in technical or economic terms. The central requirement that the comparison must be based on data from similar cultural backgrounds is often hard to satisfy in relation to socio-political considerations

  3. A Tutorial on Probablilistic Risk Assessement and its Role in Risk-Informed Decision Making

    Science.gov (United States)

    Dezfuli, Homayoon

    2010-01-01

    This slide presentation reviews risk assessment and its role in risk-informed decision making. It includes information on probabilistic risk assessment, typical risk management process, origins of risk matrix, performance measures, performance objectives and Bayes theorem.

  4. Money Related Decommissioning and Funding Decision Making

    International Nuclear Information System (INIS)

    Goodman, Lynne S.

    2008-01-01

    'Money makes the world go round', as the song says. It definitely influences decommissioning decision-making and financial assurance for future decommissioning. This paper will address two money-related decommissioning topics. The first is the evaluation of whether to continue or to halt decommissioning activities at Fermi 1. The second is maintaining adequacy of financial assurance for future decommissioning of operating plants. Decommissioning costs considerable money and costs are often higher than originally estimated. If costs increase significantly and decommissioning is not well funded, decommissioning activities may be deferred. Several decommissioning projects have been deferred when decision-makers determined future spending is preferable than current spending, or when costs have risen significantly. Decommissioning activity timing is being reevaluated for the Fermi 1 project. Assumptions for waste cost-escalation significantly impact the decision being made this year on the Fermi 1 decommissioning project. They also have a major impact on the estimated costs for decommissioning currently operating plants. Adequately funding full decommissioning during plant operation will ensure that the users who receive the benefit pay the full price of the nuclear-generated electricity. Funding throughout operation also will better ensure that money is available following shutdown to allow decommissioning to be conducted without need for additional funds

  5. Background risk information to assist in risk management decision making

    International Nuclear Information System (INIS)

    Hammonds, J.S.; Hoffman, F.O.; White, R.K.; Miller, D.B.

    1992-10-01

    The evaluation of the need for remedial activities at hazardous waste sites requires quantification of risks of adverse health effects to humans and the ecosystem resulting from the presence of chemical and radioactive substances at these sites. The health risks from exposure to these substances are in addition to risks encountered because of the virtually unavoidable exposure to naturally occurring chemicals and radioactive materials that are present in air, water, soil, building materials, and food products. To provide a frame of reference for interpreting risks quantified for hazardous waste sites, it is useful to identify the relative magnitude of risks of both a voluntary and involuntary nature that are ubiquitous throughout east Tennessee. In addition to discussing risks from the ubiquitous presence of background carcinogens in the east Tennessee environment, this report also presents risks resulting from common, everyday activities. Such information should, not be used to discount or trivialize risks from hazardous waste contamination, but rather, to create a sensitivity to general risk issues, thus providing a context for better interpretation of risk information

  6. The role of psychological and physiological factors in decision making under risk and in a dilemma

    Directory of Open Access Journals (Sweden)

    Jonas eFooken

    2016-01-01

    Full Text Available Different methods to elicit risk attitudes of individuals often provide differing results despite a common theory. Reasons for such inconsistencies may be the different influence of underlying factors in risk-taking decisions. In order to evaluate this conjecture, a better understanding of underlying factors across methods and decision contexts is desirable. In this paper we study the difference in result of two different risk elicitation methods by linking estimates of risk attitudes to gender, age and personality traits, which have been shown to be related. We also investigate the role of these factors during decision-making in a dilemma situation. For these two decision contexts we also investigate the decision-maker's physiological state during the decision, measured by heart rate variability (HRV, which we use as an indicator of emotional involvement. We found that the two elicitation methods provide different individual risk attitude measures which is partly reflected in a different gender effect between the methods. Personality traits explain only relatively little in terms of driving risk attitudes and the difference between methods. We also found that risk taking and the physiological state are related for one of the methods, suggesting that more emotionally involved individuals are more risk averse in the experiment. Finally, we found evidence that personality traits are connected to whether individuals made a decision in the dilemma situation, but risk attitudes and the physiological state were not indicative for the ability to decide in this decision context.

  7. Perception and communication of risk in decision making by persons with dementia.

    Science.gov (United States)

    Stevenson, Mabel; Savage, Beverley; Taylor, Brian J

    2017-01-01

    Communication of risks must involve people with dementia meaningfully to ensure informed and inclusive decision-making processes. This qualitative study explored concepts of risk from the perspective of persons with dementia and their experiences of communicating risk with family members and professionals. Data was analysed using grounded theory. Seventeen people in Northern Ireland with mild-moderate dementia who had recently made a decision about their daily life or care involving consideration of risks were interviewed between November 2015 and November 2016. A wide range of actual or feared risks were identified relating to: daily activities; hobbies and socialising; mental health and medicines; and risks to and from others. 'Risk' often held emotional rather than probability connotations. Constructive communications to address issues were presented. Problem-solving models of both active and passive decision-making about risks were evident. Effective risk communication in informed decision-making processes about health and social care is discussed.

  8. Neural correlates of value, risk, and risk aversion contributing to decision making under risk.

    Science.gov (United States)

    Christopoulos, George I; Tobler, Philippe N; Bossaerts, Peter; Dolan, Raymond J; Schultz, Wolfram

    2009-10-07

    Decision making under risk is central to human behavior. Economic decision theory suggests that value, risk, and risk aversion influence choice behavior. Although previous studies identified neural correlates of decision parameters, the contribution of these correlates to actual choices is unknown. In two different experiments, participants chose between risky and safe options. We identified discrete blood oxygen level-dependent (BOLD) correlates of value and risk in the ventral striatum and anterior cingulate, respectively. Notably, increasing inferior frontal gyrus activity to low risk and safe options correlated with higher risk aversion. Importantly, the combination of these BOLD responses effectively decoded the behavioral choice. Striatal value and cingulate risk responses increased the probability of a risky choice, whereas inferior frontal gyrus responses showed the inverse relationship. These findings suggest that the BOLD correlates of decision factors are appropriate for an ideal observer to detect behavioral choices. More generally, these biological data contribute to the validity of the theoretical decision parameters for actual decisions under risk.

  9. Risk-Based Decision Support of Water Resource Management Alternatives

    National Research Council Canada - National Science Library

    West, Paul D; Trainor, Timothy E

    2006-01-01

    .... A model is presented that combines a new risk assessment methodology with traditional decision-making tools to enable systems engineers to capture the full spectrum of operational risks during the design process...

  10. SADA: Ecological Risk Based Decision Support System for Selective Remediation

    Science.gov (United States)

    Spatial Analysis and Decision Assistance (SADA) is freeware that implements terrestrial ecological risk assessment and yields a selective remediation design using its integral geographical information system, based on ecological and risk assessment inputs. Selective remediation ...

  11. Risk-Based Decision Making for Deterioration Processes Using POMDP

    DEFF Research Database (Denmark)

    Nielsen, Jannie Sønderkær; Sørensen, John Dalsgaard

    2015-01-01

    This paper proposes a method for risk-based decision making for maintenance of deteriorating components, based on the partially observable Markov decision process (POMDP). Unlike most methods, the decision polices do not need to be stationary and can vary according to seasons and near the end...

  12. The relativity of risk

    International Nuclear Information System (INIS)

    Fisk, R.H.

    1987-01-01

    The transport of radioactive material has long been a subject of emotive controversy. For a realistic assessment of the risks involved, however, they must be seen in the context of the transport of any hazardous cargoes, especially those which are energy-producing products

  13. Perceptions of corporate cyber risks and insurance decision-making

    NARCIS (Netherlands)

    De Smidt, Guido; Botzen, Wouter

    This study provides an analysis of individual perceptions of cyber risks amongst professional decision makers. Data are collected using a survey of corporate professionals who are engaged in risk and insurance decision-making in various functional roles mainly in large companies. The study focuses

  14. Leadership of risk decision making in a complex, technology organization: The deliberative decision making model

    Science.gov (United States)

    Flaming, Susan C.

    2007-12-01

    The continuing saga of satellite technology development is as much a story of successful risk management as of innovative engineering. How do program leaders on complex, technology projects manage high stakes risks that threaten business success and satellite performance? This grounded theory study of risk decision making portrays decision leadership practices at one communication satellite company. Integrated product team (IPT) leaders of multi-million dollar programs were interviewed and observed to develop an extensive description of the leadership skills required to navigate organizational influences and drive challenging risk decisions to closure. Based on the study's findings the researcher proposes a new decision making model, Deliberative Decision Making, to describe the program leaders' cognitive and organizational leadership practices. This Deliberative Model extends the insights of prominent decision making models including the rational (or classical) and the naturalistic and qualifies claims made by bounded rationality theory. The Deliberative Model describes how leaders proactively engage resources to play a variety of decision leadership roles. The Model incorporates six distinct types of leadership decision activities, undertaken in varying sequence based on the challenges posed by specific risks. Novel features of the Deliberative Decision Model include: an inventory of leadership methods for managing task challenges, potential stakeholder bias and debates; four types of leadership meta-decisions that guide decision processes, and aligned organizational culture. Both supporting and constraining organizational influences were observed as leaders managed major risks, requiring active leadership on the most difficult decisions. Although the company's engineering culture emphasized the importance of data-based decisions, the uncertainties intrinsic to satellite risks required expert engineering judgment to be exercised throughout. An investigation into

  15. Framing effects and risk-sensitive decision making.

    Science.gov (United States)

    Mishra, Sandeep; Gregson, Margaux; Lalumière, Martin L

    2012-02-01

    Prospect theory suggests that people are risk-averse when facing gains, but risk-prone when facing losses, a pattern known as the framing effect. Although framing effects have been widely demonstrated, few studies have investigated framing effects under conditions of need. Risk-sensitivity theory predicts that decision makers should prefer high-risk options in situations of high need, when lower risk options are unlikely to meet those needs. In two experiments, we examined (1) whether framing effects occurred in behavioural tasks involving risky decision making from description and decision making from experience, (2) whether participants' risky decision making conformed to the predictions of risk-sensitivity theory, and (3) whether decision framing interacted with conditions of need to influence decision making under risk. The results suggest that under all circumstances, risky decision making conformed to the predictions of risk-sensitivity theory. Framing effects were at least partially demonstrable under all experimental conditions. Finally, negative frames interacted with situations of high need to produce particularly elevated levels of risky choice. Together, the results suggest that risk-sensitivity theory can augment prospect theory to explain choice under conditions of need. ©2011 The British Psychological Society.

  16. Uncertainty, causality and decision: The case of social risks and nuclear risk in particular

    International Nuclear Information System (INIS)

    Lahidji, R.

    2012-01-01

    Probability and causality are two indispensable tools for addressing situations of social risk. Causal relations are the foundation for building risk assessment models and identifying risk prevention, mitigation and compensation measures. Probability enables us to quantify risk assessments and to calibrate intervention measures. It therefore seems not only natural, but also necessary to make the role of causality and probability explicit in the definition of decision problems in situations of social risk. Such is the aim of this thesis.By reviewing the terminology of risk and the logic of public interventions in various fields of social risk, we gain a better understanding of the notion and of the issues that one faces when trying to model it. We further elaborate our analysis in the case of nuclear safety, examining in detail how methods and policies have been developed in this field and how they have evolved through time. This leads to a number of observations concerning risk and safety assessments.Generalising the concept of intervention in a Bayesian network allows us to develop a variety of causal Bayesian networks adapted to our needs. In this framework, we propose a definition of risk which seems to be relevant for a broad range of issues. We then offer simple applications of our model to specific aspects of the Fukushima accident and other nuclear safety problems. In addition to specific lessons, the analysis leads to the conclusion that a systematic approach for identifying uncertainties is needed in this area. When applied to decision theory, our tool evolves into a dynamic decision model in which acts cause consequences and are causally interconnected. The model provides a causal interpretation of Savage's conceptual framework, solves some of its paradoxes and clarifies certain aspects. It leads us to considering uncertainty with regard to a problem's causal structure as the source of ambiguity in decision-making, an interpretation which corresponds to a

  17. Decision-making under risk and uncertainty

    International Nuclear Information System (INIS)

    Gatev, G.I.

    2006-01-01

    Fuzzy sets and interval analysis tools to make computations and solve optimisation problems are presented. Fuzzy and interval extensions of Decision Theory criteria for decision-making under parametric uncertainty of prior information (probabilities, payoffs) are developed. An interval probability approach to the mean-value criterion is proposed. (author)

  18. Supporting risk-informed decisions during business process execution

    NARCIS (Netherlands)

    Conforti, R.; Leoni, de M.; La Rosa, M.; Aalst, van der W.M.P.; Salinesi, C.; Norrie, M.C.; Pastor, O.

    2013-01-01

    This paper proposes a technique that supports process participants in making risk-informed decisions, with the aim to reduce the process risks. Risk reduction involves decreasing the likelihood and severity of a process fault from occurring. Given a process exposed to risks, e.g. a financial process

  19. Risk assessment and multi-criteria decision-making

    International Nuclear Information System (INIS)

    Segerstaahl, Boris

    1989-01-01

    Risk assessment and analysis is connected to the policy framework used in decision-making on issues concerning technological risk. A review of the problems created by different views concerning the fundamental structure of risk concepts is used as a way to describe the structure of risk assessment studies as used in decision-making. The fundamental difference between judgments based on assessments and on perceptions is analyzed in order to explain the dynamics of the decision making process. A proposed effort to study the energy sector as a dynamic endless game implementing a mixed strategy is suggested. (author)

  20. The Profitability – Risk Relationship and Financing Decision

    OpenAIRE

    Nityesh BHATT

    2007-01-01

    The enterprise financial decision is a rational process for option to the optimal variant related to financing and investments. For the capital investment to be justified, the profitability of the invested money must be at least equal with the profitability of the alternative investment opportunities with the same risk on market. The choosing of a way for financing is determined on the one side by their cost and on the other side by the existent capital structure. In this paper I tried to ana...

  1. Risk informed decision making - a pre-study

    International Nuclear Information System (INIS)

    Simola, K.; Pulkkinen, U.

    2004-04-01

    Examples of risk-informed decisions are establishing maintenance programmes, optimising inspection policies and justifying plant modifications, and revising technical specifications. Applications in daily situations can be such as accepting or rejecting exemptions from technical specifications. The aim of this pre-study was to identify the status of risk-informed decision making at Swedish and Finnish nuclear power plants and nuclear safety authorities. Responses to a questionnaire were obtained either by interviews or by e-mail from two Swedish and two Finnish NPPs, SKI and STUK. The development of a risk-informed decision procedure based on decision analytic ideas is worth recommending. A clear documentation format is a part of such procedure. In order to serve as a basis for final decision, the documentation should include clearly defined decision criteria, qualification of PSA model for the issue under analysis, description of most important uncertainties and assumptions. (au)

  2. Self-Regulation Principles Underlying Risk Perception and Decision Making within the Context of Genomic Testing

    Science.gov (United States)

    Cameron, Linda D.; Biesecker, Barbara Bowles; Peters, Ellen; Taber, Jennifer M.; Klein, William M. P.

    2017-01-01

    Advances in theory and research on self-regulation and decision-making processes have yielded important insights into how cognitive, emotional, and social processes shape risk perceptions and risk-related decisions. We examine how self-regulation theory can be applied to inform our understanding of decision-making processes within the context of genomic testing, a clinical arena in which individuals face complex risk information and potentially life-altering decisions. After presenting key principles of self-regulation, we present a genomic testing case example to illustrate how principles related to risk representations, approach and avoidance motivations, emotion regulation, defensive responses, temporal construals, and capacities such as numeric abilities can shape decisions and psychological responses during the genomic testing process. We conclude with implications for using self-regulation theory to advance science within genomic testing and opportunities for how this research can inform further developments in self-regulation theory. PMID:29225669

  3. Self-Regulation Principles Underlying Risk Perception and Decision Making within the Context of Genomic Testing.

    Science.gov (United States)

    Cameron, Linda D; Biesecker, Barbara Bowles; Peters, Ellen; Taber, Jennifer M; Klein, William M P

    2017-05-01

    Advances in theory and research on self-regulation and decision-making processes have yielded important insights into how cognitive, emotional, and social processes shape risk perceptions and risk-related decisions. We examine how self-regulation theory can be applied to inform our understanding of decision-making processes within the context of genomic testing, a clinical arena in which individuals face complex risk information and potentially life-altering decisions. After presenting key principles of self-regulation, we present a genomic testing case example to illustrate how principles related to risk representations, approach and avoidance motivations, emotion regulation, defensive responses, temporal construals, and capacities such as numeric abilities can shape decisions and psychological responses during the genomic testing process. We conclude with implications for using self-regulation theory to advance science within genomic testing and opportunities for how this research can inform further developments in self-regulation theory.

  4. Risk-Informed Decisions Optimization in Inspection and Maintenance

    International Nuclear Information System (INIS)

    Robertas Alzbutas

    2002-01-01

    The Risk-Informed Approach (RIA) used to support decisions related to inspection and maintenance program is considered. The use of risk-informed methods can help focus the adequate in-service inspections and control on the more important locations of complex dynamic systems. The focus is set on the highest risk measured as conditional core damage frequency, which is produced by the frequencies of degradation and final failure at different locations combined with the conditional failure consequence probability. The probabilities of different degradation states per year and consequences are estimated quantitatively. The investigation of inspection and maintenance process is presented as the combination of deterministic and probabilistic analysis based on general risk-informed model, which includes the inspection and maintenance program features. Such RIA allows an optimization of inspection program while maintaining probabilistic and fundamental deterministic safety requirements. The failure statistics analysis is used as well as the evaluation of reliability of inspections. The assumptions regarding the effectiveness of the inspection methods are based on a classification of the accessibility of the welds during the inspection and on the different techniques used for inspection. The probability of defect detection is assumed to depend on the parameters either through logarithmic or logit transformation. As example the modeling of the pipe systems inspection process is analyzed. The means to reduce a number of inspection sites and the cumulative radiation exposure to the NPP inspection personnel with a reduction of overall risk is presented together with used and developed software. The developed software can perform and administrate all the risk evaluations and ensure the possibilities to compare different options and perform sensitivity analysis. The approaches to define an acceptable level of risk are discussed. These approaches with appropriate software in

  5. Subthalamic Neural Activity Patterns Anticipate Economic Risk Decisions in Gambling

    Science.gov (United States)

    Rosa, M.; Carpaneto, J.; Priori, A.

    2018-01-01

    Abstract Economic decision-making is disrupted in individuals with gambling disorder, an addictive behavior observed in Parkinson’s disease (PD) patients receiving dopaminergic therapy. The subthalamic nucleus (STN) is involved in the inhibition of impulsive behaviors; however, its role in impulse control disorders and addiction is still unclear. Here, we recorded STN local field potentials (LFPs) in PD patients with and without gambling disorder during an economic decision-making task. Reaction times analysis showed that for all patients, the decision whether to risk preceded task onset. We compared then for both groups the STN LFP preceding high- and low-risk economic decisions. We found that risk avoidance in gamblers correlated with larger STN LFP low-frequency (gambling disorder were instead not correlated with pretask STN LFP. Our results suggest that STN activity preceding task onset affects risk decisions by preemptively inhibiting attraction to high but unlikely rewards in favor of a long-term payoff. PMID:29445770

  6. Subthalamic Neural Activity Patterns Anticipate Economic Risk Decisions in Gambling.

    Science.gov (United States)

    Mazzoni, A; Rosa, M; Carpaneto, J; Romito, L M; Priori, A; Micera, S

    2018-01-01

    Economic decision-making is disrupted in individuals with gambling disorder, an addictive behavior observed in Parkinson's disease (PD) patients receiving dopaminergic therapy. The subthalamic nucleus (STN) is involved in the inhibition of impulsive behaviors; however, its role in impulse control disorders and addiction is still unclear. Here, we recorded STN local field potentials (LFPs) in PD patients with and without gambling disorder during an economic decision-making task. Reaction times analysis showed that for all patients, the decision whether to risk preceded task onset. We compared then for both groups the STN LFP preceding high- and low-risk economic decisions. We found that risk avoidance in gamblers correlated with larger STN LFP low-frequency (gambling disorder were instead not correlated with pretask STN LFP. Our results suggest that STN activity preceding task onset affects risk decisions by preemptively inhibiting attraction to high but unlikely rewards in favor of a long-term payoff.

  7. Hierarchical decision making for flood risk reduction

    DEFF Research Database (Denmark)

    Custer, Rocco; Nishijima, Kazuyoshi

    2013-01-01

    . In current practice, structures are often optimized individually without considering benefits of having a hierarchy of protection structures. It is here argued, that the joint consideration of hierarchically integrated protection structures is beneficial. A hierarchical decision model is utilized to analyze...... and compare the benefit of large upstream protection structures and local downstream protection structures in regard to epistemic uncertainty parameters. Results suggest that epistemic uncertainty influences the outcome of the decision model and that, depending on the magnitude of epistemic uncertainty...

  8. Multi-criteria decision analysis with probabilistic risk assessment for the management of contaminated ground water

    International Nuclear Information System (INIS)

    Khadam, Ibrahim M.; Kaluarachchi, Jagath J.

    2003-01-01

    Traditionally, environmental decision analysis in subsurface contamination scenarios is performed using cost-benefit analysis. In this paper, we discuss some of the limitations associated with cost-benefit analysis, especially its definition of risk, its definition of cost of risk, and its poor ability to communicate risk-related information. This paper presents an integrated approach for management of contaminated ground water resources using health risk assessment and economic analysis through a multi-criteria decision analysis framework. The methodology introduces several important concepts and definitions in decision analysis related to subsurface contamination. These are the trade-off between population risk and individual risk, the trade-off between the residual risk and the cost of risk reduction, and cost-effectiveness as a justification for remediation. The proposed decision analysis framework integrates probabilistic health risk assessment into a comprehensive, yet simple, cost-based multi-criteria decision analysis framework. The methodology focuses on developing decision criteria that provide insight into the common questions of the decision-maker that involve a number of remedial alternatives. The paper then explores three potential approaches for alternative ranking, a structured explicit decision analysis, a heuristic approach of importance of the order of criteria, and a fuzzy logic approach based on fuzzy dominance and similarity analysis. Using formal alternative ranking procedures, the methodology seeks to present a structured decision analysis framework that can be applied consistently across many different and complex remediation settings. A simple numerical example is presented to demonstrate the proposed methodology. The results showed the importance of using an integrated approach for decision-making considering both costs and risks. Future work should focus on the application of the methodology to a variety of complex field conditions to

  9. Got risk? risk-centric perspective for spacecraft technology decision-making

    Science.gov (United States)

    Feather, Martin S.; Cornford, Steven L.; Moran, Kelly

    2004-01-01

    A risk-based decision-making methodology conceived and developed at JPL and NASA has been used to aid in decision making for spacecraft technology assessment, adoption, development and operation. It takes a risk-centric perspective, through which risks are used as a reasoning step to interpose between mission objectives and risk mitigation measures.

  10. Decision making biases in the communication of earthquake risk

    Science.gov (United States)

    Welsh, M. B.; Steacy, S.; Begg, S. H.; Navarro, D. J.

    2015-12-01

    L'Aquila, with 6 scientists convicted of manslaughter, shocked the scientific community, leading to urgent re-appraisal of communication methods for low-probability, high-impact events. Before the trial, a commission investigating the earthquake recommended risk assessment be formalised via operational earthquake forecasts and that social scientists be enlisted to assist in developing communication strategies. Psychological research has identified numerous decision biases relevant to this, including hindsight bias, where people (after the fact) overestimate an event's predictability. This affects experts as well as naïve participants as it relates to their ability to construct a plausible causal story rather than the likelihood of the event. Another problem is availability, which causes overestimation of the likelihood of observed rare events due to their greater noteworthiness. This, however, is complicated by the 'description-experience' gap, whereby people underestimate probabilities for events they have not experienced. That is, people who have experienced strong earthquakes judge them more likely while those who have not judge them less likely - relative to actual probabilities. Finally, format changes alter people's decisions. That is people treat '1 in 10,000' as different from 0.01% despite their mathematical equivalence. Such effects fall under the broad term framing, which describes how different framings of the same event alter decisions. In particular, people's attitude to risk depends significantly on how scenarios are described. We examine the effect of biases on the communication of change in risk. South Australian participants gave responses to scenarios describing familiar (bushfire) or unfamiliar (earthquake) risks. While bushfires are rare in specific locations, significant fire events occur each year and are extensively covered. By comparison, our study location (Adelaide) last had a M5 quake in 1954. Preliminary results suggest the description

  11. Risk perception and clinical decision making in primary care

    DEFF Research Database (Denmark)

    Barfoed, Benedicte Marie Lind

    2015-01-01

    Objectives We aim to present new knowledge about different perspectives of health care professionals’ risk perceptions and clinical decision making. Furthermore, we intend to discuss differences between professional and personal risk perceptions and the impact on decisions in terms of both short...... and long-term outcomes. Background Insight into healthcare professionals’ perception of risk is a cornerstone for understanding their strategies for practising preventive care. The way people perceive risk can be seen as part of a general personality trait influenced by a mixture of individual...... considerations and the specific context. Most research has been focused on understanding of the concepts of risk. However healthcare professionals’ risk perception and personal attitudes also affect their clinical decision-making and risk communication. The differences between health care professionals’ personal...

  12. A Benefit-Risk Analysis Approach to Capture Regulatory Decision-Making: Multiple Myeloma.

    Science.gov (United States)

    Raju, G K; Gurumurthi, Karthik; Domike, Reuben; Kazandjian, Dickran; Landgren, Ola; Blumenthal, Gideon M; Farrell, Ann; Pazdur, Richard; Woodcock, Janet

    2018-01-01

    Drug regulators around the world make decisions about drug approvability based on qualitative benefit-risk analysis. In this work, a quantitative benefit-risk analysis approach captures regulatory decision-making about new drugs to treat multiple myeloma (MM). MM assessments have been based on endpoints such as time to progression (TTP), progression-free survival (PFS), and objective response rate (ORR) which are different than benefit-risk analysis based on overall survival (OS). Twenty-three FDA decisions on MM drugs submitted to FDA between 2003 and 2016 were identified and analyzed. The benefits and risks were quantified relative to comparators (typically the control arm of the clinical trial) to estimate whether the median benefit-risk was positive or negative. A sensitivity analysis was demonstrated using ixazomib to explore the magnitude of uncertainty. FDA approval decision outcomes were consistent and logical using this benefit-risk framework. © 2017 American Society for Clinical Pharmacology and Therapeutics.

  13. Perceptions of disease risk: from social construction of subjective judgments to rational decision making.

    Science.gov (United States)

    McRoberts, N; Hall, C; Madden, L V; Hughes, G

    2011-06-01

    Many factors influence how people form risk perceptions. Farmers' perceptions of risk and levels of risk aversion impact on decision-making about such things as technology adoption and disease management practices. Irrespective of the underlying factors that affect risk perceptions, those perceptions can be summarized by variables capturing impact and uncertainty components of risk. We discuss a new framework that has the subjective probability of disease and the cost of decision errors as its central features, which might allow a better integration of social science and epidemiology, to the benefit of plant disease management. By focusing on the probability and cost (or impact) dimensions of risk, the framework integrates research from the social sciences, economics, decision theory, and epidemiology. In particular, we review some useful properties of expected regret and skill value, two measures of expected cost that are particularly useful in the evaluation of decision tools. We highlight decision-theoretic constraints on the usefulness of decision tools that may partly explain cases of failure of adoption. We extend this analysis by considering information-theoretic criteria that link model complexity and relative performance and which might explain why users reject forecasters that impose even moderate increases in the complexity of decision making despite improvements in performance or accept very simple decision tools that have relatively poor performance.

  14. Sex and HIV serostatus differences in decision making under risk among substance-dependent individuals.

    Science.gov (United States)

    Martin, Eileen; Gonzalez, Raul; Vassileva, Jasmin; Maki, Pauline M; Bechara, Antoine; Brand, Matthias

    2016-01-01

    HIV+ individuals with and without substance use disorders make significantly poorer decisions when information about the probability and magnitude of wins and losses is not available. We administered the Game of Dice Task, a measure of decision making under risk that provides this information explicitly, to 92 HIV+ and 134 HIV- substance-dependent men and women. HIV+ participants made significantly poorer decisions than HIV- participants, but this deficit appeared more prominent among HIV+ women. These data indicate that decision making under risk is impaired among HIV+ substance-dependent individuals (SDIs). Potential factors for the HIV+ women's relatively greater impairment are discussed.

  15. On risk measures and decisions in insurance and finance

    NARCIS (Netherlands)

    Goovaerts, M.J.; Kaas, R.; Laeven, R.J.A.

    2009-01-01

    In this paper, we argue that a distinction exists between risk measures and decision principles. Though both are functionals assigning a real number to a random variable, we think there is a hierarchy between the two concepts. Risk measures operate on the first "level", quantifying the risk in the

  16. Making decisions about liability and insurance a special issue of the journal of risk and uncertainty

    CERN Document Server

    Kunreuther, Howard

    1993-01-01

    Two related trends have created novel challenges for managing risk in the United States. The first trend is a series of dramatic changes in liability law as tort law has expanded to assign liability to defendants for reasons other than negligence. The unpredictability of future costs induced by changes in tort law may be partly responsible for the second major trend known as the `liability crisis' - the disappearance of liability protection in markets for particularly unpredictable risks. This book examines decisions people make about insurance and liability. An understanding of such decision making may help explain why the insurance crisis resulted from the new interpretations of tort law and what to do about it. The articles cover three kinds of decisions: consumer decisions to purchase insurance; insurer decisions about coverage they offer; and the decisions of the public about the liability rules they prefer, which are reflected in legislation and regulation. For each of these three kinds of decisions, no...

  17. Decision-making under risk in children, adolescents, and young adults.

    Science.gov (United States)

    Paulsen, David J; Platt, Michael L; Huettel, Scott A; Brannon, Elizabeth M

    2011-01-01

    Adolescents often make risky and impulsive decisions. Such behavior has led to the common assumption that a dysfunction in risk-related decision-making peaks during this age. Differences in how risk has been defined across studies, however, make it difficult to draw conclusions about developmental changes in risky decision-making. Here, we developed a non-symbolic economic decision-making task that can be used across a wide age span and that uses coefficient of variation (CV) in reward as an index of risk. We found that young children showed the strongest preference for risky compared to sure bet options of equal expected value, adolescents were intermediate in their risk preference, and young adults showed the strongest risk aversion. Furthermore, children's preference for the risky option increased for larger CVs, while adolescents and young adults showed the opposite pattern, favoring the sure bet more often as CV increased. Finally, when faced with two gambles in a risk-return tradeoff, all three age groups exhibited a greater preference for the option with the lower risk and return as the disparity in risk between the two options increased. These findings demonstrate clear age-related differences in economic risk preferences that vary with choice set and risk. Importantly, adolescence appears to represent an intermediate decision-making phenotype along the transition from childhood to adulthood, rather than an age of heightened preference for economic risk.

  18. Speech Recognition Using Randomized Relational Decision Trees

    National Research Council Canada - National Science Library

    Amit, Yali

    1999-01-01

    .... This implies that we recognize words as units, without recognizing their subcomponents. Multiple randomized decision trees are used to access the large pool of acoustic events in a systematic manner and are aggregated to produce the classifier.

  19. The dynamics of change in decision making under risk

    Directory of Open Access Journals (Sweden)

    Milićević Aleksandar

    2007-01-01

    Full Text Available The goal of this study was to investigate the dynamics of decision making under risk. In three experiments this dynamics have been explored with respect to probability of outcome and with respect to frame, i.e. the way the outcomes of the alternatives have been specified. The process of decision making was explored within a framework of expected utility and Prospect theory. The outcomes of alternatives as well as their probabilities were quantitatively specified (so that the expected value of a risk alternative was equal to the value of a non-risk alternative. The results of experiments indicate that the attitude towards risk (risk-proneness vs. risk-averseness depends on the outcome probability and the way the outcomes were specified (i.e. positive/negative frame. It was also demonstrated that content strongly affects the choices made in decision making. This outcome is somewhat unexpected and requires additional empirical evaluation.

  20. Risk perception, safety goals and regulatory decision-making

    International Nuclear Information System (INIS)

    Hoegberg, Lars

    1998-01-01

    Deciding on 'how safe is safe enough?' includes value judgements with implications of an ethical and political nature. As regulators are accountable to governments, parliaments and the general public, regulatory decision-making should be characterized by transparency with respect to how such value judgements are reflected in risk assessments and regulatory decisions. Some approaches in this respect are discussed in the paper, based on more than fifteen years of experience in nuclear regulatory decision-making. Issues discussed include: (1) risk profiles and safety goals associated with severe reactor accidents--individual health risks, societal risks and risk of losing investments; (2) risk profile-based licensing of the Swedish SFR final disposal facility for low and intermediate level radioactive waste

  1. Selection of tolerable risk criteria for dam safety decision making

    International Nuclear Information System (INIS)

    Nielsen, N.M.; Hartford, D.N.D.; MacDonald, T.F.

    1994-01-01

    Risk assessment has received increasing attention in recent years as a means of aiding decision making on dams by providing systematic and rational methods for dealing with risk and uncertainty. Risk assessment is controversial and decisions affecting risk to life are the most controversial. Tolerable criteria, based on the risks that society is prepared to accept in order to avoid excessive costs, set bounds within which risk-based decisions may be made. The components of risk associated with dam safety are addressed on an individual basis and criteria established for each component, thereby permitting flexibility in the balance between component risk and avoiding the problems of placing a monetary value on life. The guiding principle of individual risk is that dams do not impose intolerable risks on any individual. A risk to life of 1 in 10 4 per annum is generally considered the maximum tolerable risk. When considering societal risk, the safety of a dam should be proportional to the consequences of its failure. Risks of financial losses beyond the corporation's ability to finance should be so low as to be considered negligible. 17 refs., 3 figs

  2. Risk related behaviour under different ambient scent conditions

    OpenAIRE

    Alina Gagarina; Indre Pikturniene

    2016-01-01

    The article analyses the effect of two ambient scents (peppermint and vanilla) and their intensiveness on risk related behaviour that is expressed through selected decision making heuristics. Purpose of the article: The purpose of this article is to identify the relationship of ambient scent type and intensiveness with risk related behaviour that is expressed through selected decision making heuristics. Methodology/methods: 2×2 factorial experiment with control group was run. Ambi...

  3. Spatial and Temporal Flood Risk Assessment for Decision Making Approach

    Science.gov (United States)

    Azizat, Nazirah; Omar, Wan-Mohd-Sabki Wan

    2018-03-01

    Heavy rainfall, adversely impacting inundation areas, depends on the magnitude of the flood. Significantly, location of settlements, infrastructure and facilities in floodplains result in many regions facing flooding risks. A problem faced by the decision maker in an assessment of flood vulnerability and evaluation of adaptation measures is recurrent flooding in the same areas. Identification of recurrent flooding areas and frequency of floods should be priorities for flood risk management. However, spatial and temporal variability become major factors of uncertainty in flood risk management. Therefore, dynamic and spatial characteristics of these changes in flood impact assessment are important in making decisions about the future of infrastructure development and community life. System dynamics (SD) simulation and hydrodynamic modelling are presented as tools for modelling the dynamic characteristics of flood risk and spatial variability. This paper discusses the integration between spatial and temporal information that is required by the decision maker for the identification of multi-criteria decision problems involving multiple stakeholders.

  4. Presenting quantitative information about decision outcomes: a risk communication primer for patient decision aid developers

    NARCIS (Netherlands)

    Trevena, L.J.; Zikmund-Fisher, B.J.; Edwards, A.; Gaissmaier, W.; Galesic, M.; Han, P.K.J.; King, J.; Lawson, M.L.; Linder, S.K.; Lipkus, I.; Ozanne, E.; Peters, E.; Timmermans, D.R.M.; Woloshin, S.

    2013-01-01

    Background: Making evidence-based decisions often requires comparison of two or more options. Research-based evidence may exist which quantifies how likely the outcomes are for each option. Understanding these numeric estimates improves patients' risk perception and leads to better informed decision

  5. Decision theory, the context for risk and reliability analysis

    International Nuclear Information System (INIS)

    Kaplan, S.

    1985-01-01

    According to this model of the decision process then, the optimum decision is that option having the largest expected utility. This is the fundamental model of a decision situation. It is necessary to remark that in order for the model to represent a real-life decision situation, it must include all the options present in that situation, including, for example, the option of not deciding--which is itself a decision, although usually not the optimum one. Similarly, it should include the option of delaying the decision while the authors gather further information. Both of these options have probabilities, outcomes, impacts, and utilities like any option and should be included explicitly in the decision diagram. The reason for doing a quantitative risk or reliability analysis is always that, somewhere underlying there is a decision to be made. The decision analysis therefore always forms the context for the risk or reliability analysis, and this context shapes the form and language of that analysis. Therefore, they give in this section a brief review of the well-known decision theory diagram

  6. A Multiple Criteria Decision Making Method Based on Relative Value Distances

    Directory of Open Access Journals (Sweden)

    Shyur Huan-jyh

    2015-12-01

    Full Text Available This paper proposes a new multiple criteria decision-making method called ERVD (election based on relative value distances. The s-shape value function is adopted to replace the expected utility function to describe the risk-averse and risk-seeking behavior of decision makers. Comparisons and experiments contrasting with the TOPSIS (Technique for Order Preference by Similarity to the Ideal Solution method are carried out to verify the feasibility of using the proposed method to represent the decision makers’ preference in the decision making process. Our experimental results show that the proposed approach is an appropriate and effective MCDM method.

  7. Risk Stratification and Shared Decision Making for Colorectal Cancer Screening: A Randomized Controlled Trial.

    Science.gov (United States)

    Schroy, Paul C; Duhovic, Emir; Chen, Clara A; Heeren, Timothy C; Lopez, William; Apodaca, Danielle L; Wong, John B

    2016-05-01

    Eliciting patient preferences within the context of shared decision making has been advocated for colorectal cancer (CRC) screening, yet providers often fail to comply with patient preferences that differ from their own. To determine whether risk stratification for advanced colorectal neoplasia (ACN) influences provider willingness to comply with patient preferences when selecting a desired CRC screening option. Randomized controlled trial. Asymptomatic, average-risk patients due for CRC screening in an urban safety net health care setting. Patients were randomized 1:1 to a decision aid alone (n= 168) or decision aid plus risk assessment (n= 173) arm between September 2012 and September 2014. The primary outcome was concordance between patient preference and test ordered; secondary outcomes included patient satisfaction with the decision-making process, screening intentions, test completion rates, and provider satisfaction. Although providers perceived risk stratification to be useful in selecting an appropriate screening test for their average-risk patients, no significant differences in concordance were observed between the decision aid alone and decision aid plus risk assessment groups (88.1% v. 85.0%,P= 0.40) or high- and low-risk groups (84.5% v. 87.1%,P= 0.51). Concordance was highest for colonoscopy and relatively low for tests other than colonoscopy, regardless of study arm or risk group. Failure to comply with patient preferences was negatively associated with satisfaction with the decision-making process, screening intentions, and test completion rates. Single-institution setting; lack of provider education about the utility of risk stratification into their decision making. Providers perceived risk stratification to be useful in their decision making but often failed to comply with patient preferences for tests other than colonoscopy, even among those deemed to be at low risk of ACN. © The Author(s) 2016.

  8. Integrating LCA and Risk Assessment for Decision Support

    DEFF Research Database (Denmark)

    Dong, Yan; Miraglia, Simona; Manzo, Stefano

    The study aims at developing a methodology using decision analysis theory and tools to find the optimal policy (or design) of the studied system, to ensure both sustainability and meanwhile manage risks.......The study aims at developing a methodology using decision analysis theory and tools to find the optimal policy (or design) of the studied system, to ensure both sustainability and meanwhile manage risks....

  9. Treatment decision-making and the form of risk communication: results of a factorial survey

    Directory of Open Access Journals (Sweden)

    Holmes-Rovner Margaret

    2004-11-01

    Full Text Available Abstract Background Prospective users of preventive therapies often must evaluate complex information about therapeutic risks and benefits. The purpose of this study was to evaluate the effect of relative and absolute risk information on patient decision-making in scenarios typical of health information for patients. Methods Factorial experiments within a telephone survey of the Michigan adult, non-institutionalized, English-speaking population. Average interview lasted 23 minutes. Subjects and sample design: 952 randomly selected adults within a random-digit dial sample of Michigan households. Completion rate was 54.3%. Results When presented hypothetical information regarding additional risks of breast cancer from a medication to prevent a bone disease, respondents reduced their willingness to recommend a female friend take the medication compared to the baseline rate (66.8% = yes. The decrease was significantly greater with relative risk information. Additional benefit information regarding preventing heart disease from the medication increased willingness to recommend the medication to a female friend relative to the baseline scenario, but did not differ between absolute and relative risk formats. When information about both increased risk of breast cancer and reduced risk of heart disease were provided, typical respondents appeared to make rational decisions consistent with Expected Utility Theory, but the information presentation format affected choices. Those 11% – 33% making decisions contrary to the medical indications were more likely to be Hispanic, older, more educated, smokers, and to have children in the home. Conclusions In scenarios typical of health risk information, relative risk information led respondents to make non-normative decisions that were "corrected" when the frame used absolute risk information. This population sample made generally rational decisions when presented with absolute risk information, even in the

  10. Regional scale ecological risk assessment: using the relative risk model

    National Research Council Canada - National Science Library

    Landis, Wayne G

    2005-01-01

    ...) in the performance of regional-scale ecological risk assessments. The initial chapters present the methodology and the critical nature of the interaction between risk assessors and decision makers...

  11. Risk Acceptance Criteria and/or Decision optimization

    DEFF Research Database (Denmark)

    Ditlevsen, Ove Dalager

    1996-01-01

    Acceptance criteria applied in practical risk analysis are recapitulated including the concept of rist profile. Modelling of risk profiles is illustrated on the basis of compound Poisson process models. The current practice of authoritative acceptance criteria formulation is discussed from...... a decision theoretical point of view. It is argued that the phenomenon of risk aversion rather than being of concern to the authority should be of concern to the owner. Finally it is discussed whether there is an ethical problem when formally capitalising human lives with a positive interest rate. Keywords......: Risk acceptance, Risk profile, Compound Poisson model for risk profile, Capitalization of human life, Risk aversion....

  12. Decision Trajectories in Dementia Care Networks: Decisions and Related Key Events.

    Science.gov (United States)

    Groen-van de Ven, Leontine; Smits, Carolien; Oldewarris, Karen; Span, Marijke; Jukema, Jan; Eefsting, Jan; Vernooij-Dassen, Myrra

    2017-10-01

    This prospective multiperspective study provides insight into the decision trajectories of people with dementia by studying the decisions made and related key events. This study includes three waves of interviews, conducted between July 2010 and July 2012, with 113 purposefully selected respondents (people with beginning to advanced stages of dementia and their informal and professional caregivers) completed in 12 months (285 interviews). Our multilayered qualitative analysis consists of content analysis, timeline methods, and constant comparison. Four decision themes emerged-managing daily life, arranging support, community living, and preparing for the future. Eight key events delineate the decision trajectories of people with dementia. Decisions and key events differ between people with dementia living alone and living with a caregiver. Our study clarifies that decisions relate not only to the disease but to living with the dementia. Individual differences in decision content and sequence may effect shared decision-making and advance care planning.

  13. Risk communication: Translating technically complex information to facilitate informed decision-making

    International Nuclear Information System (INIS)

    Sprecher, W.M.; Turner, E.

    1991-01-01

    Based on a review of risk communication and related literature, including policy material, this paper describes the newly revamped risk management program of the DOE's Office of Civilian Radioactive Waste Management (OCRWM), and some of the risk-related issues being confronted as the high-level waste management program moves forward. It also describes preliminary activities underway in which the OCRWM is developing strategies for risk communication. The authors offer a definition of risk management as comprised by the components of risk assessment and risk communication. The paper explores the discrepant views that experts and nonexperts have with respect to what constitutes a valid risk assessment model. By illustrating differences in the assessment of risk by experts and lay people, the paper demonstrates how these differences can create challenges in communicating risk and making decisions about risk. Finally, the paper discusses ways in which risk communication could be enhance, and elaborates on the OCRWM's commitment to improve its overall risk management efforts

  14. Decision on risk-averse dual-channel supply chain under demand disruption

    Science.gov (United States)

    Yan, Bo; Jin, Zijie; Liu, Yanping; Yang, Jianbo

    2018-02-01

    We studied dual-channel supply chains using centralized and decentralized decision-making models. We also conducted a comparative analysis of the decisions before and after demand disruption. The study shows that the amount of change in decision-making is a linear function of the amount of demand disruption, and it is independent of the risk-averse coefficient. The optimal sales volume decision of the disturbing supply chain is related to market share and demand disruption in the decentralized decision-making model. The optimal decision is only influenced by demand disruption in the centralized decision-making model. The stability of the sales volume of the two models is related to market share and demand disruption. The optimal system production of the two models shows robustness, but their stable internals are different.

  15. Endogenous Risks and Learning in Climate Change Decision Analysis

    International Nuclear Information System (INIS)

    O'Neill, B.C.; Ermoliev, Y.; Ermolieva, T.

    2005-01-01

    We analyze the effects of risks and learning on climate change decisions. A two-stage, dynamic, climate change stabilization problem is formulated. The explicit incorporation of ex-post learning induces risk aversion among ex-ante decisions, which is characterized in linear models by VaR- (Value at Risk) and CVaR-type risk (Conditional Value at Risk) measures. Combined with explicit introduction of 'safety' constraints, it creates a 'hit-or-miss' type decision making situation and shows that, even in linear models, learning may lead to either less or more restrictive ex-ante emission reductions. We analyze stylized elements of the model in order to identify the key factors driving outcomes, in particular, the critical role of quantiles of probability distributions characterizing key uncertainties

  16. VALDOR. Values in decisions on risk. Proceedings

    Energy Technology Data Exchange (ETDEWEB)

    Andersson, Kjell [Karinta-Konsult, Taeby (Sweden)

    2001-07-01

    Some 130 delegates from 17 countries participated in the symposium. The principal topics of the symposium were transparency, openness and public participation in decision-making processes. The symposium addressed the role of experts, media and regulators in complex decisions, as well as procedures that can enhance transparency. It was concerned principally with issues in radioactive waste disposal and provided insights into different approaches employed for public involvement and consultation in different countries. The symposium also included discussion of biotechnology issues, and several parallels was drawn with experience from nuclear industry, in particular that provision of information alone does not constitute dialogue with the public on controversial issues. The biotechnology industry has recognised the need to engage in public debate on controversial issues rather than assuming good science and provision of information would gain public acceptance of biotechnology. A further topic covered was the role of the media in complex issues which included presentations from journalists and discussion of the role the media plays in raising public debate on environmental issues.

  17. VALDOR. Values in decisions on risk. Proceedings

    International Nuclear Information System (INIS)

    Andersson, Kjell

    2001-01-01

    Some 130 delegates from 17 countries participated in the symposium. The principal topics of the symposium were transparency, openness and public participation in decision-making processes. The symposium addressed the role of experts, media and regulators in complex decisions, as well as procedures that can enhance transparency. It was concerned principally with issues in radioactive waste disposal and provided insights into different approaches employed for public involvement and consultation in different countries. The symposium also included discussion of biotechnology issues, and several parallels was drawn with experience from nuclear industry, in particular that provision of information alone does not constitute dialogue with the public on controversial issues. The biotechnology industry has recognised the need to engage in public debate on controversial issues rather than assuming good science and provision of information would gain public acceptance of biotechnology. A further topic covered was the role of the media in complex issues which included presentations from journalists and discussion of the role the media plays in raising public debate on environmental issues

  18. Cognitive Processes in Decisions Under Risk Are Not the Same As in Decisions Under Uncertainty

    Directory of Open Access Journals (Sweden)

    Kirsten G Volz

    2012-07-01

    Full Text Available We deal with risk versus uncertainty, a distinction that is of fundamental importance for cognitive neuroscience yet largely neglected. In a world of risk (small world, all alternatives, consequences, and probabilities are known. In uncertain (large worlds, some of this information is unknown or unknowable. Most of cognitive neuroscience studies exclusively study the neural correlates for decisions under risk (e.g., lotteries, with the tacit implication that understanding these would lead to an understanding of decision making in general. First, we show that normative strategies for decisions under risk do not generalize to uncertain worlds, where simple heuristics are often the more accurate strategies. Second, we argue that the cognitive processes for making decisions in a world of risk are not the same as those for dealing with uncertainty. Because situations with known risks are the exception rather than the rule in human evolution, it is unlikely that our brains are adapted to them. We therefore suggest a paradigm shift towards studying decision processes in uncertain worlds and provide first examples.

  19. Application of PSA in risk informed decision making

    International Nuclear Information System (INIS)

    Hari Prasad, M.; Vinod, Gopika; Saraf, R.K.; Ghosh, A.K.; Kushwaha, H.S.

    2006-01-01

    Probabilistic Safety Assessment (PSA) models have been successfully employed during design evaluation to assess weak links and carry out design modifications to improve system reliability and safety. Recently, studies are directed towards applying PSA in various decision making issues concerned with plant operations and safety regulations. This necessitates development of software tools like Living PSA, Risk Monitor etc. Risk Monitor is a PC based tool developed to assess the risk, based on the actual status of systems and components. Such tools find wide application with plant personnel and regulatory authorities since they can provide solutions to various plant issues and regulatory decision making issues respectively. (author)

  20. Risk Analysis and Decision Making FY 2013 Milestone Report

    Energy Technology Data Exchange (ETDEWEB)

    Engel, David W.; Dalton, Angela C.; Dale, Crystal; Jones, Edward; Thompson, J.

    2013-06-01

    Risk analysis and decision making is one of the critical objectives of CCSI, which seeks to use information from science-based models with quantified uncertainty to inform decision makers who are making large capital investments. The goal of this task is to develop tools and capabilities to facilitate the development of risk models tailored for carbon capture technologies, quantify the uncertainty of model predictions, and estimate the technical and financial risks associated with the system. This effort aims to reduce costs by identifying smarter demonstrations, which could accelerate development and deployment of the technology by several years.

  1. Principles of risk-based decision making

    National Research Council Canada - National Science Library

    United States. Coast Guard. Risk based decision-making guidelines

    2001-01-01

    ... original content in order to make this product more generically applicable and less Coast Guard specific. h s k assessment and risk management are important topics in industry and government. Because of limited resources and increasing demands for services, most organizations simply cannot continue business as usual. Even if resources are not dec...

  2. Impaired decision-making under risk in individuals with alcohol dependence

    Science.gov (United States)

    Brevers, Damien; Bechara, Antoine; Cleeremans, Axel; Kornreich, Charles; Verbanck, Paul; Noël, Xavier

    2014-01-01

    Background Alcohol dependence is associated with poor decision-making under ambiguity, that is, when decisions are to be made in the absence of known probabilities of reward and loss. However, little is known regarding decisions made by individuals with alcohol dependence in the context of known probabilities (decision under risk). In this study, we investigated the relative contribution of these distinct aspects of decision making to alcohol dependence. Methods Thirty recently detoxified and sober asymptomatic alcohol-dependent individuals, and thirty healthy control participants were tested for decision-making under ambiguity (using the Iowa Gambling Task), and decision-making under-risk (using the Cups Task and Coin Flipping Task). We also tested their capacities for working memory storage (Digit-span Forward), and dual-tasking (Operation-span Task). Results Compared to healthy control participants, alcohol-dependent individuals made disadvantageous decisions on the Iowa Gambling Task, reflecting poor decisions under ambiguity. They also made more risky choices on the Cups and Coin Flipping Tasks reflecting poor decision-making under risk. In addition, alcohol-dependent participants showed some working memory impairments, as measured by the dual tasking, and the degree of this impairment correlated with high-risk decision-making, thus suggesting a relationship between processes sub-serving working memory and risky decisions. Conclusion These results suggest that alcohol dependent individuals are impaired in their ability to decide optimally in multiple facets of uncertainty (i.e., both risk and ambiguity), and that at least some aspects of these deficits are linked to poor working memory processes. PMID:24948198

  3. RiskChanges Spatial Decision Support system for the analysis of changing multi-hazard risk

    Science.gov (United States)

    van Westen, Cees; Zhang, Kaixi; Bakker, Wim; Andrejchenko, Vera; Berlin, Julian; Olyazadeh, Roya; Cristal, Irina

    2015-04-01

    quantitative analysis (using different hazard types, temporal scenarios and vulnerability curves) resulting into risk curves. The platform does not include a component to calculate hazard maps, and existing hazard maps are used as input data for the risk component. The second component of the SDSS is a risk reduction planning component, which forms the core of the platform. This component includes the definition of risk reduction alternatives (related to disaster response planning, risk reduction measures and spatial planning) and links back to the risk assessment module to calculate the new level of risk if the measure is implemented, and a cost-benefit (or cost-effectiveness/ Spatial Multi Criteria Evaluation) component to compare the alternatives and make decision on the optimal one. The third component of the SDSS is a temporal scenario component, which allows to define future scenarios in terms of climate change, land use change and population change, and the time periods for which these scenarios will be made. The component doesn't generate these scenarios but uses input maps for the effect of the scenarios on the hazard and assets maps. The last component is a communication and visualization component, which can compare scenarios and alternatives, not only in the form of maps, but also in other forms (risk curves, tables, graphs)

  4. Use of Probabilistic Risk Assessment in Shuttle Decision Making Process

    Science.gov (United States)

    Boyer, Roger L.; Hamlin, Teri, L.

    2011-01-01

    This slide presentation reviews the use of Probabilistic Risk Assessment (PRA) to assist in the decision making for the shuttle design and operation. Probabilistic Risk Assessment (PRA) is a comprehensive, structured, and disciplined approach to identifying and analyzing risk in complex systems and/or processes that seeks answers to three basic questions: (i.e., what can go wrong? what is the likelihood of these occurring? and what are the consequences that could result if these occur?) The purpose of the Shuttle PRA (SPRA) is to provide a useful risk management tool for the Space Shuttle Program (SSP) to identify strengths and possible weaknesses in the Shuttle design and operation. SPRA was initially developed to support upgrade decisions, but has evolved into a tool that supports Flight Readiness Reviews (FRR) and near real-time flight decisions. Examples of the use of PRA for the shuttle are reviewed.

  5. Positive Mood Risk Attitudes, and Investment Decisions

    DEFF Research Database (Denmark)

    Lepori, Gabriele

    moodshifting mechanism commonly employed in lab studies. More specifically, I exploit the time-series variation in the domestic theatrical release of comedy movies as a natural experiment for testing the impact that happy mood (proxied by weekend comedy movie attendance) has on investment in risky assets...... (proxied by the performance of the U.S. stock market on the following Monday). My hypothesis rests upon the evidence that individual investors are more likely to ponder trading decisions during the weekend and trade on Mondays. To control for unobserved factors that may contemporaneously affect movie...... attendance and equity returns, I employ the percentage of theater screens dedicated to the comedy genre as an instrument. Using a sample of data from 1995 to 2010, I estimate that an increase in comedy attendance on a given weekend is followed by a decrease in equity returns on the subsequent Monday, which...

  6. Employment relations, flexibility and risk

    DEFF Research Database (Denmark)

    Jensen, Carsten Strøby

    Employment relations literature often distinguishes between social democratic/corporatist models of employment relations and liberal models of employment relations as they are seen as opposite or at least different ways of organizing labor markets. They are often characterized as having very...... different risk profiles in terms of relationships between employees, employers, and the state. Low levels of labor market regulation very often characterize the liberal models of employment relations as we know them from, for instance, the USA and the UK. This means that employment conditions are very often...... insecure and that the burden of unemployment risk mostly lies with the employees rather than the employer. Corporatist – or social democratic – employment relations models are, in contrast to the liberal models, often characterized by stricter regulation of the labor market and by high standards...

  7. Altered Decision-Making under Risk in Obesity.

    Directory of Open Access Journals (Sweden)

    Juan F Navas

    Full Text Available The negative consequences of energy dense foods are well known, yet people increasingly make unhealthy food choices leading to obesity (i.e., risky decisions. The aims of this study were: [1] to compare performance in decision-making tasks under risk and under ambiguity between individuals with obesity, overweight and normal weight; [2] to examine the associations between body mass index (BMI and decision-making, and the degree to which these associations are modulated by reward sensitivity.Seventy-nine adults were recruited and classified in three groups according to their BMI: obesity, overweight and normal-weight. Groups were similar in terms of age, education and socio-economic status, and were screened for comorbid medical and mental health conditions. Decision-making under risk was measured via the Wheel of Fortune Task (WoFT and decision-making under ambiguity via the Iowa Gambling Task (IGT. Reward sensitivity was indicated by the Sensitivity to Punishment and Sensitivity to Reward Questionnaire (SPSRQ.Individuals with obesity made riskier choices in the WoFT, specifically in choices with an expected value close to zero and in the propensity to risk index. No differences were found in IGT performance or SPSRQ scores. BMI was associated with risk-taking (WoFT performance, independently of reward sensitivity.Obesity is linked to a propensity to make risky decisions in experimental conditions analogous to everyday food choices.

  8. Decision support systems and expert systems for risk and safety analysis

    International Nuclear Information System (INIS)

    Baybutt, P.

    1986-01-01

    During the last 1-2 years, rapid developments have occurred in the development of decision support systems and expert systems to aid in decision making related to risk and safety of industrial plants. These activities are most noteworthy in the nuclear industry where numerous systems are under development with implementation often being made on personal computers. An overview of some of these developments is provided, and an example of one recently developed decision support system is given. This example deals with CADET, a system developed to aid the U.S. Nuclear Regulatory Commission in making decisions related to the topical issue of source terms resulting from degraded core accidents in light water reactors. The paper concludes with some comments on the likely directions of future developments in decision support systems and expert systems to aid in the management of risk and safety in industrial plants. (author)

  9. Engineering Decisions Under Risk-Averseness

    Science.gov (United States)

    2013-12-13

    Y (x′) may be different, especially in the critical upper tail. For example, if Y (x) = g(x,V ) = 100− xV1 − (1− x)V2, where V1 is normally...Econometrica, 47:263–291, 1979. [16] K. Kalinchenko, S. Uryasev, and R.T. Rockafellar. Calibrating risk preferences with generalized CAPM based on mixed

  10. Metabolic state alters economic decision making under risk in humans.

    Directory of Open Access Journals (Sweden)

    Mkael Symmonds

    2010-06-01

    Full Text Available Animals' attitudes to risk are profoundly influenced by metabolic state (hunger and baseline energy stores. Specifically, animals often express a preference for risky (more variable food sources when below a metabolic reference point (hungry, and safe (less variable food sources when sated. Circulating hormones report the status of energy reserves and acute nutrient intake to widespread targets in the central nervous system that regulate feeding behaviour, including brain regions strongly implicated in risk and reward based decision-making in humans. Despite this, physiological influences per se have not been considered previously to influence economic decisions in humans. We hypothesised that baseline metabolic reserves and alterations in metabolic state would systematically modulate decision-making and financial risk-taking in humans.We used a controlled feeding manipulation and assayed decision-making preferences across different metabolic states following a meal. To elicit risk-preference, we presented a sequence of 200 paired lotteries, subjects' task being to select their preferred option from each pair. We also measured prandial suppression of circulating acyl-ghrelin (a centrally-acting orexigenic hormone signalling acute nutrient intake, and circulating leptin levels (providing an assay of energy reserves. We show both immediate and delayed effects on risky decision-making following a meal, and that these changes correlate with an individual's baseline leptin and changes in acyl-ghrelin levels respectively.We show that human risk preferences are exquisitely sensitive to current metabolic state, in a direction consistent with ecological models of feeding behaviour but not predicted by normative economic theory. These substantive effects of state changes on economic decisions perhaps reflect shared evolutionarily conserved neurobiological mechanisms. We suggest that this sensitivity in human risk-preference to current metabolic state has

  11. Risk aversion in medical decision making: a survey

    OpenAIRE

    Liliana Chicaíza; Mario García; Giancarlo Romano

    2011-01-01

    This article surveys the literature on risk aversion in medical decision making. The search covered Econlit, Jstor Science Direct and Springer Link since 1985. The results are classified in three topics: Risk aversion in the frameworks of Expected Utility and Rank Dependent Expected Utility theories, and the methodologies for measuring risk aversion and its applications to clinical situations from the points of view of economics and psychology. It was found that, despite conceptual and method...

  12. Risk informed decision making. Topical issues paper no. 1

    International Nuclear Information System (INIS)

    Niehaus, F.; Szikszai, T.

    2001-01-01

    To date, probabilistic safety assessments (PSAs) have been performed for more than 200 nuclear power plants (NPPs) worldwide and are under various stages of development for most of the remaining NPPs. The state-of-the-art is to have a full scope Level 2 PSA (including external events and low power and shutdown) which is maintained as a 'living PSA' with regular updating. Modern computer technology allows frequent recalculations of the PSA to evaluate the impact of changes in operation or design and allows use of the PSA in the form of safety or risk monitors. There is a general agreement, as documented in various IAEA Safety Standards, that the deterministic approach to nuclear safety should be complemented by a probabilistic approach. Though PSAs have been used extensively in the past, it was usually limited to a variety of applications on a case by case basis as deemed necessary or useful. There is now a recent development led by the USA, and followed by several other countries, to move to a much expanded use of PSA in what is termed 'risk informed decision making'. The main driving force behind this movement is the expectation that the use of risk insights can result in both improved safety and a reduction in unnecessary regulatory requirements, hence leading to a more efficient use of resources for NPP operators and the regulatory authority. One of the key challenges in truly risk informed decision making is the reconciliation of PSA results and insights with traditional deterministic analysis. This is particularly true when it comes to defence in depth and safety margins. PSA results often conflict with deterministic insights. If a method of reconciling these conflicts is not defined, then risk informed can become deterministic plus PSA. This results in PSA being an additional layer of requirements rather than a tool for optimized decision making. Alternatively, if PSA information is always used to override deterministic considerations, then that is a 'risk

  13. Does a reactor need a safety backfit. Case study on communicating decision and risk analysis information to managers

    Energy Technology Data Exchange (ETDEWEB)

    Brown, R.V.; Ulvila, J.W.

    1988-06-01

    An approach to communicating decision and risk analysis findings to managers is illustrated in a real case context. This article consists essentially of a report prepared for senior managers of the Nuclear Regulatory Commission to help them make a reactor safety decision. It illustrates the communication of decision analysis findings relating to technical risks, costs, and benefits in support of a major risk management decision: whether or not to require a safety backfit. Its focus is on the needs of decision makers, and it introduces some novel communication devices.

  14. Decision Making under Ambiguity and Objective Risk in Higher Age - A Review on Cognitive and Emotional Contributions.

    Science.gov (United States)

    Liebherr, Magnus; Schiebener, Johannes; Averbeck, Heike; Brand, Matthias

    2017-01-01

    The ability of decision making plays a highly relevant role in our survival, but is adversely affected during the process of aging. The present review aims to provide a better understanding of age-related differences in decision making and the role of cognitive and emotional factors in this context. We reviewed the literature about age-effects on decision-making performance, focusing on decision making under ambiguous and objective risk. In decisions under ambiguous risks, as measured by the Iowa Gambling Task, decisions are based on the experiences with consequences. In this case, many articles have attributed age-related impairments in decision making to changes in emotional and somatic reward- and punishment processing. In decisions under objective risks, as measured for example by the Game of Dice Task, decisions can be based on explicit information about risks and consequences. In this case, age-related changes have been attributed mainly to a cognitive decline, particularly impaired executive functions. However, recent findings challenge these conclusions. The present review summarizes neuropsychological and neurophysiological findings of age-related differences in decision making under ambiguous and objective risk. In this context, the relevance of learning, but also of cognitive and emotional contributors - responsible for age-related differences in decision making - are additionally pointed out.

  15. Decision Making under Ambiguity and Objective Risk in Higher Age – A Review on Cognitive and Emotional Contributions

    Directory of Open Access Journals (Sweden)

    Magnus Liebherr

    2017-12-01

    Full Text Available The ability of decision making plays a highly relevant role in our survival, but is adversely affected during the process of aging. The present review aims to provide a better understanding of age-related differences in decision making and the role of cognitive and emotional factors in this context. We reviewed the literature about age-effects on decision-making performance, focusing on decision making under ambiguous and objective risk. In decisions under ambiguous risks, as measured by the Iowa Gambling Task, decisions are based on the experiences with consequences. In this case, many articles have attributed age-related impairments in decision making to changes in emotional and somatic reward- and punishment processing. In decisions under objective risks, as measured for example by the Game of Dice Task, decisions can be based on explicit information about risks and consequences. In this case, age-related changes have been attributed mainly to a cognitive decline, particularly impaired executive functions. However, recent findings challenge these conclusions. The present review summarizes neuropsychological and neurophysiological findings of age-related differences in decision making under ambiguous and objective risk. In this context, the relevance of learning, but also of cognitive and emotional contributors – responsible for age-related differences in decision making – are additionally pointed out.

  16. Decision Making under Ambiguity and Objective Risk in Higher Age – A Review on Cognitive and Emotional Contributions

    Science.gov (United States)

    Liebherr, Magnus; Schiebener, Johannes; Averbeck, Heike; Brand, Matthias

    2017-01-01

    The ability of decision making plays a highly relevant role in our survival, but is adversely affected during the process of aging. The present review aims to provide a better understanding of age-related differences in decision making and the role of cognitive and emotional factors in this context. We reviewed the literature about age-effects on decision-making performance, focusing on decision making under ambiguous and objective risk. In decisions under ambiguous risks, as measured by the Iowa Gambling Task, decisions are based on the experiences with consequences. In this case, many articles have attributed age-related impairments in decision making to changes in emotional and somatic reward- and punishment processing. In decisions under objective risks, as measured for example by the Game of Dice Task, decisions can be based on explicit information about risks and consequences. In this case, age-related changes have been attributed mainly to a cognitive decline, particularly impaired executive functions. However, recent findings challenge these conclusions. The present review summarizes neuropsychological and neurophysiological findings of age-related differences in decision making under ambiguous and objective risk. In this context, the relevance of learning, but also of cognitive and emotional contributors – responsible for age-related differences in decision making – are additionally pointed out. PMID:29270145

  17. Risk-based decision making for terrorism applications.

    Science.gov (United States)

    Dillon, Robin L; Liebe, Robert M; Bestafka, Thomas

    2009-03-01

    This article describes the anti-terrorism risk-based decision aid (ARDA), a risk-based decision-making approach for prioritizing anti-terrorism measures. The ARDA model was developed as part of a larger effort to assess investments for protecting U.S. Navy assets at risk and determine whether the most effective anti-terrorism alternatives are being used to reduce the risk to the facilities and war-fighting assets. With ARDA and some support from subject matter experts, we examine thousands of scenarios composed of 15 attack modes against 160 facility types on two installations and hundreds of portfolios of 22 mitigation alternatives. ARDA uses multiattribute utility theory to solve some of the commonly identified challenges in security risk analysis. This article describes the process and documents lessons learned from applying the ARDA model for this application.

  18. Confronting the risks of terrorism: making the right decisions

    International Nuclear Information System (INIS)

    John Garrick, B.; Hall, James E.; Kilger, Max; McDonald, John C.; O'Toole, Tara; Probst, Peter S.; Rindskopf Parker, Elizabeth; Rosenthal, Robert; Trivelpiece, Alvin W.; Van Arsdale, Lee A.; Zebroski, Edwin L.

    2004-01-01

    This report offers a methodology for assessing, quantitatively, the risks of terrorism. The purpose of the methodology is to support effective decision making to combat terrorism. The emphasis is on terrorist attacks that could have catastrophic consequences. The perspective taken is that in order to make the right decisions about combating terrorism, their needs to be a systematic means of assessing the likelihood of such attacks. A process of implementation of the decisions resulting from risk assessment is essential. That process includes (1) an understanding of the nature of the threat, (2) an information system linked directly to 'intelligence' on terrorism, and (3) organizational structures that can take timely, coordinated, and effective actions. There must also be sound evidence that the methodology can be successfully applied. A description of the nature of terrorism, a terrorism risk assessment methodology, information requirements to fight terrorism, and recommendations for successful implementation is what this report is about

  19. Benefit-Risk Analysis for Decision-Making: An Approach.

    Science.gov (United States)

    Raju, G K; Gurumurthi, K; Domike, R

    2016-12-01

    The analysis of benefit and risk is an important aspect of decision-making throughout the drug lifecycle. In this work, the use of a benefit-risk analysis approach to support decision-making was explored. The proposed approach builds on the qualitative US Food and Drug Administration (FDA) approach to include a more explicit analysis based on international standards and guidance that enables aggregation and comparison of benefit and risk on a common basis and a lifecycle focus. The approach is demonstrated on six decisions over the lifecycle (e.g., accelerated approval, withdrawal, and traditional approval) using two case studies: natalizumab for multiple sclerosis (MS) and bedaquiline for multidrug-resistant tuberculosis (MDR-TB). © 2016 American Society for Clinical Pharmacology and Therapeutics.

  20. Multi-Criteria Decision Making for a Spatial Decision Support System on the Analysis of Changing Risk

    Science.gov (United States)

    Olyazadeh, Roya; van Westen, Cees; Bakker, Wim H.; Aye, Zar Chi; Jaboyedoff, Michel; Derron, Marc-Henri

    2014-05-01

    Natural hazard risk management requires decision making in several stages. Decision making on alternatives for risk reduction planning starts with an intelligence phase for recognition of the decision problems and identifying the objectives. Development of the alternatives and assigning the variable by decision makers to each alternative are employed to the design phase. Final phase evaluates the optimal choice by comparing the alternatives, defining indicators, assigning a weight to each and ranking them. This process is referred to as Multi-Criteria Decision Making analysis (MCDM), Multi-Criteria Evaluation (MCE) or Multi-Criteria Analysis (MCA). In the framework of the ongoing 7th Framework Program "CHANGES" (2011-2014, Grant Agreement No. 263953) of the European Commission, a Spatial Decision Support System is under development, that has the aim to analyse changes in hydro-meteorological risk and provide support to selecting the best risk reduction alternative. This paper describes the module for Multi-Criteria Decision Making analysis (MCDM) that incorporates monetary and non-monetary criteria in the analysis of the optimal alternative. The MCDM module consists of several components. The first step is to define criteria (or Indicators) which are subdivided into disadvantages (criteria that indicate the difficulty for implementing the risk reduction strategy, also referred to as Costs) and advantages (criteria that indicate the favorability, also referred to as benefits). In the next step the stakeholders can use the developed web-based tool for prioritizing criteria and decision matrix. Public participation plays a role in decision making and this is also planned through the use of a mobile web-version where the general local public can indicate their agreement on the proposed alternatives. The application is being tested through a case study related to risk reduction of a mountainous valley in the Alps affected by flooding. Four alternatives are evaluated in

  1. Promotion of technical harmonisation on risk-based decision making

    International Nuclear Information System (INIS)

    Kirchsteiger, Christian; Cojazzi, Giacomo

    2000-01-01

    The EC-JRC International Workshop on Promotion of Technical Harmonisation on Risk-Based Decision Making, held at Stresa and Ispra, Italy, 22-25 May 2000, was an experts meeting to discuss the possible need of developing an internationally accepted generic 'standard' for risk-based decision making.This paper briefly describes the workshop background, its organisation and summarises its main results and conclusions; it reflects the personal opinions of the authors and in no way commits the European Commission. (author)

  2. Hesitant Probabilistic Multiplicative Preference Relations in Group Decision Making

    Directory of Open Access Journals (Sweden)

    Zia Bashir

    2018-03-01

    Full Text Available The preference of one alternative over another is a useful way to express the opinion of the decision-maker. In the process of group decision-making, preference relations are used in preference modeling of the alternatives under given criteria. The probability is an important tool to deal with uncertainty and, in many scenarios of decision-making problems, the probabilities of different events affect the decision-making process directly. In order to deal with this issue, the hesitant probabilistic multiplicative preference relation (HPMPR is defined in this paper. Furthermore, consistency of the HPMPR and consensus among decision makers are studied here. In this respect, many algorithms are developed to achieve consistency of HPMPRs, reasonable consensus between decision-makers and a final algorithm is proposed comprehending all other algorithms, presenting a complete decision support model for group decision-making. Lastly, we present a case study with complete illustration of the proposed model and discuss the effects of probabilities on decision-making validating the importance of the introduction of probability in hesitant multiplicative preference relations.

  3. Risk analysis for decision support in electricity distribution system asset management: methods and frameworks for analysing intangible risks

    Energy Technology Data Exchange (ETDEWEB)

    Nordgaard, Dag Eirik

    2010-04-15

    During the last 10 to 15 years electricity distribution companies throughout the world have been ever more focused on asset management as the guiding principle for their activities. Within asset management, risk is a key issue for distribution companies, together with handling of cost and performance. There is now an increased awareness of the need to include risk analyses into the companies' decision making processes. Much of the work on risk in electricity distribution systems has focused on aspects of reliability. This is understandable, since it is surely an important feature of the product delivered by the electricity distribution infrastructure, and it is high on the agenda for regulatory authorities in many countries. However, electricity distribution companies are also concerned with other risks relevant for their decision making. This typically involves intangible risks, such as safety, environmental impacts and company reputation. In contrast to the numerous methodologies developed for reliability risk analysis, there are relatively few applications of structured analyses to support decisions concerning intangible risks, even though they represent an important motivation for decisions taken in electricity distribution companies. The overall objective of this PhD work has been to explore risk analysis methods that can be used to improve and support decision making in electricity distribution system asset management, with an emphasis on the analysis of intangible risks. The main contributions of this thesis can be summarised as: An exploration and testing of quantitative risk analysis (QRA) methods to support decisions concerning intangible risks; The development of a procedure for using life curve models to provide input to QRA models; The development of a framework for risk-informed decision making where QRA are used to analyse selected problems; In addition, the results contribute to clarify the basic concepts of risk, and highlight challenges

  4. Risk-based systems analysis for emerging technologies: Applications of a technology risk assessment model to public decision making

    International Nuclear Information System (INIS)

    Quadrel, M.J.; Fowler, K.M.; Cameron, R.; Treat, R.J.; McCormack, W.D.; Cruse, J.

    1995-01-01

    The risk-based systems analysis model was designed to establish funding priorities among competing technologies for tank waste remediation. The model addresses a gap in the Department of Energy's (DOE's) ''toolkit'' for establishing funding priorities among emerging technologies by providing disciplined risk and cost assessments of candidate technologies within the context of a complete remediation system. The model is comprised of a risk and cost assessment and a decision interface. The former assesses the potential reductions in risk and cost offered by new technology relative to the baseline risk and cost of an entire system. The latter places this critical information in context of other values articulated by decision makers and stakeholders in the DOE system. The risk assessment portion of the model is demonstrated for two candidate technologies for tank waste retrieval (arm-based mechanical retrieval -- the ''long reach arm'') and subsurface barriers (close-coupled chemical barriers). Relative changes from the base case in cost and risk are presented for these two technologies to illustrate how the model works. The model and associated software build on previous work performed for DOE's Office of Technology Development and the former Underground Storage Tank Integrated Demonstration, and complement a decision making tool presented at Waste Management 1994 for integrating technical judgements and non-technical (stakeholder) values when making technology funding decisions

  5. Risk related behaviour under different ambient scent conditions

    Directory of Open Access Journals (Sweden)

    Alina Gagarina

    2016-09-01

    Full Text Available The article analyses the effect of two ambient scents (peppermint and vanilla and their intensiveness on risk related behaviour that is expressed through selected decision making heuristics. Purpose of the article: The purpose of this article is to identify the relationship of ambient scent type and intensiveness with risk related behaviour that is expressed through selected decision making heuristics. Methodology/methods: 2×2 factorial experiment with control group was run. Ambient scent type (vanilla vs. peppermint and intensiveness (8 (1mg vs. 16 sprays (2mg of scent concentrate in the same room were manipulated as between subject variables. Risk aversion, effect of anchoring heuristic on bidding, and affect (risk and benefit heuristics were tracked as dependent variables. Scientific aim: To identify whether ambient scent type and intensiveness have effect on risk related behaviour. Findings: Evidence suggests that there are effects of ambient scent on risk related behaviour, thus fulfilling the missing gap to relate ambient environment to decision making heuristics when risks are involved. However, not all heuristics were affected by experimental conditions. Subjects were bidding significantly higher amounts under low anchor conditions, when peppermint scent was around (if compared to vanilla group. Affect risk was perceived as lower in peppermint ambient scent conditions, if compared to the control group. Intensity of ambient scent also had influence on affect risk: subjects perceived less risk under high scent intensity conditions. Conclusions: By manipulating ambient scent, marketers may reduce or increase consumers risk perception and behaviour and as a consequence influence their purchase decisions. Marketers could use peppermint scent in high intensiveness in the situations where they want consumers to undertake higher risks (expensive purchases, gambling, insurance, since stakes were higher under peppermint ambient scent condition

  6. Companies Credit Risk Assessment Methods for Investment Decision Making

    Directory of Open Access Journals (Sweden)

    Dovilė Peškauskaitė

    2017-06-01

    Full Text Available As the banks have tightened lending requirements, companies look for alternative sources of external funding. One of such is bonds issue. Unfortunately, corporate bonds issue as a source of funding is rare in Lithuania. This occurs because companies face with a lack of information, investors fear to take on credit risk. Credit risk is defined as a borrower’s failure to meet its obligation. Investors, in order to avoid credit risk, have to assess the state of the companies. The goal of the article is to determine the most informative methods of credit risk assessment. The article summarizes corporate lending sources, analyzes corporate default causes and credit risk assessment methods. The study based on the SWOT analysis shows that investors before making an investment decision should evaluate both the business risk,using qualitative method CAMPARI, and the financial risk, using financial ratio analysis.

  7. Feasibility Risk Assessment of Transport Infrastructure Projects: The CBA-DK Decision Support Model

    DEFF Research Database (Denmark)

    Salling, Kim Bang; Banister, David

    2010-01-01

    informed decision support towards decision-makers and stakeholders in terms of accumulated descending graphs. The decision support method developed in this paper aims to provide assistance in the analysis and ultimately the choice of action, while accounting for the uncertainties surrounding any transport......This paper presents the final version of the CBA-DK decision support model for assessment of transport projects. The model makes use of conventional cost-benefit analysis resulting in aggregated single point estimates and quantitative risk analysis using Monte Carlo simulation resulting in interval...... result, and the determination of suitable probability distributions. Use is made of the reference class forecasting information, such as that developed in Optimism Bias for adjustments to investment decisions that relate to all modes of transport. The CBA-DK decision support model results in more...

  8. Assimilation of public opinions in nuclear decision-making using risk perception

    International Nuclear Information System (INIS)

    Sohn, K.Y.; Yang, J.W.; Kang, C.S.

    2001-01-01

    A method of assimilating public opinions in the decision-making process has been developed in this study. The proposed method will resolve the major shortcomings of existing decision-making models, which are deficient in, or missing public participation during the process. In the nuclear-related decision-making process, a particular concern of the public is nuclear safety, which is numerically characterized by risk. In reality, it is the risk that each individual perceives that is very important. Hence, the public perception of risk has been employed as a key decision-making element in representing public opinions. To quantify the public perception of risk, the psychometric model is used. Psychological risk dimensions are first assessed using factor analysis and a set of factors is identified for optimized computation. Expert opinions formulated by a group of selected professionals and experts are then aggregated with the public opinions. To gather public and expert opinions, separate polls were conducted in this study. In the aggregation, the analytic hierarchy process (AHP) and multi-attribute utility analysis (MAUA) were employed, and for uncertainty analysis, a fuzzy set based approach was adopted. This method has been applied to analyze six options for spent fuel management in Korea for a case study. As expected, the results of the case study show that public risk perception is an important element in nuclear-related decision-making processes

  9. Optimization of approximate decision rules relative to number of misclassifications

    KAUST Repository

    Amin, Talha M.; Chikalov, Igor; Moshkov, Mikhail; Zielosko, Beata

    2012-01-01

    In the paper, we study an extension of dynamic programming approach which allows optimization of approximate decision rules relative to the number of misclassifications. We introduce an uncertainty measure J(T) which is a difference between the number of rows in a decision table T and the number of rows with the most common decision for T. For a nonnegative real number γ, we consider γ-decision rules that localize rows in subtables of T with uncertainty at most γ. The presented algorithm constructs a directed acyclic graph Δγ(T). Based on this graph we can describe the whole set of so-called irredundant γ-decision rules. We can optimize rules from this set according to the number of misclassifications. Results of experiments with decision tables from the UCI Machine Learning Repository are presented. © 2012 The authors and IOS Press. All rights reserved.

  10. Optimization of approximate decision rules relative to number of misclassifications

    KAUST Repository

    Amin, Talha

    2012-12-01

    In the paper, we study an extension of dynamic programming approach which allows optimization of approximate decision rules relative to the number of misclassifications. We introduce an uncertainty measure J(T) which is a difference between the number of rows in a decision table T and the number of rows with the most common decision for T. For a nonnegative real number γ, we consider γ-decision rules that localize rows in subtables of T with uncertainty at most γ. The presented algorithm constructs a directed acyclic graph Δγ(T). Based on this graph we can describe the whole set of so-called irredundant γ-decision rules. We can optimize rules from this set according to the number of misclassifications. Results of experiments with decision tables from the UCI Machine Learning Repository are presented. © 2012 The authors and IOS Press. All rights reserved.

  11. Emotional Intelligence and risk taking in investment decision-making

    OpenAIRE

    Enrico Rubaltelli; Sergio Agnoli; Michela Rancan; Tiziana Pozzoli

    2015-01-01

    Previous work on investment decision-making suggested that emotions prevent investors from taking risks and from investing in a rational way, whereas other work found that there is great variability in people’s ability to manage and use emotional feedbacks. We hypothesized that people with high trait emotional intelligence should be more willing, than people with low trait emotional intelligence, to accept risks when making an investment. Data supported a model in which trait emotional intell...

  12. Risk informed decision-making and its ethical basis

    International Nuclear Information System (INIS)

    Ersdal, Gerhard; Aven, Terje

    2008-01-01

    In decision-making under uncertainty there are two main questions that need to be evaluated: (i) What are the future consequences and associated uncertainties of an action, and (ii) what is a good (or right) decision or action. Philosophically these issues are categorized as epistemic questions (i.e. questions of knowledge) and ethical questions (i.e. questions of moral and norms). This paper discusses the second issue, and evaluates different risk management approaches for establishing good decisions, using different ethical theories as a basis. These theories include the utilitarian ethics of Bentley and Mills, and deontological ethics of Kant, Rawls and Habermas. The risk management approaches include cost-benefit analysis (CBA), minimum safety criterion, the ALARP principle and the precautionary principle

  13. Regulatory approach to risk informed decision making in India

    International Nuclear Information System (INIS)

    Chande, S.K.; Koley, J.

    2001-01-01

    Atomic Energy Regulatory Board (AERB), the authority for licensing and monitoring safety in Indian Nuclear Power Plants (NPPs), makes use of insights gained from PSA together with the results of the other deterministic analyses in taking decisions regarding the acceptability of the safety of the NPPs. PSA provides an estimation of risks; it also gives information on a balanced design by revealing interaction between engineered features and weak areas in a design. For regulatory use, PSA needs to be carried out using standardized methodology and state of the art technology. PSA helps regulators in taking faster and consistent decisions. Keeping in mind the limitations associated with PSA study, AERB has decided to adopt risk-informed decision making in regulatory licensing process. This paper describes the AERB policy regarding PSA and gives an overview of the experience in this area. (author)

  14. Risk informed decision-making and its ethical basis

    Energy Technology Data Exchange (ETDEWEB)

    Ersdal, Gerhard [University of Stavanger (Norway)], E-mail: gerhard.ersdal@ptil.no; Aven, Terje [University of Stavanger (Norway)

    2008-02-15

    In decision-making under uncertainty there are two main questions that need to be evaluated: (i) What are the future consequences and associated uncertainties of an action, and (ii) what is a good (or right) decision or action. Philosophically these issues are categorized as epistemic questions (i.e. questions of knowledge) and ethical questions (i.e. questions of moral and norms). This paper discusses the second issue, and evaluates different risk management approaches for establishing good decisions, using different ethical theories as a basis. These theories include the utilitarian ethics of Bentley and Mills, and deontological ethics of Kant, Rawls and Habermas. The risk management approaches include cost-benefit analysis (CBA), minimum safety criterion, the ALARP principle and the precautionary principle.

  15. Risk concepts in UK nuclear safety decision-making

    International Nuclear Information System (INIS)

    Brighton, P.W.M.

    2001-01-01

    This paper discusses the concept of risk as understood in the UK, with particular reference to the use of probabilistic safety assessment (PSA) in nuclear safety decision making. The way 'risk' appears in UK fundamental legislation means that the concept cannot be limited to evaluation of numerical probabilities of physical harm. Rather the focus is on doing all that is reasonably practicable to reduce risks: this entails applying relevant good practice and then seeking further safety measures until the money, time and trouble required are grossly disproportionate to the residual risk. PSA is used to inform rather than dictate such decisions. This approach is reinforced by considering how far any practical PSA can be said to measure risk. The behaviour of complex socio-technical systems such as nuclear power stations does not meet the conditions under which probability theory can be applied in an absolutely objective statistical sense. Risk is not an intrinsic real property of such systems. Rather PSA is a synthesis of data and subjective expert judgements, dependent on the extent of detailed knowledge of the plant. There are many other aspects of engineering judgement involved in safety decisions which cannot be so captured. (author)

  16. Risk-informed decision making during Bohunice NPP safety upgrading

    International Nuclear Information System (INIS)

    Lipar, M.; Muzikova, E.; Kubanyi, J.

    2001-01-01

    The paper summarizes some facts of risk-informed regulation developments within UJD regulatory environment. Based on national as well as international operating experience and indications resulted from PSA, Nuclear Regulatory Authority of the Slovak Republic (UJD) since its constituting in 1993 has devoted an effort to use PSA technology to support the regulatory policy in Slovakia. The PSA is considered a complement, not a substitute, to the deterministic approach. Suchlike integrated approach is used in decision making processes and the final decision on scope and priorities is based on it. The paper outlines risk insights used in the decision making process concerning Bohunice NPP safety upgrading and focuses on the role of PSA results in Gradual Reconstruction of Bohunice VI NPP. Besides, two other examples of the PSA results application to the decision making process are provided: the assessment of proposal of modifications to the main power supply diagram (incorporation of generator switches) and the assessment of licensee request for motor generator AOT (Allowable Outage Time) extension. As an example of improving support of Bohunice V-2 risk-informed operations, concept of AOT calculations and Bohunice V-2 Risk Monitor Project are briefly described. (author)

  17. Making Risk Models Operational for Situational Awareness and Decision Support

    International Nuclear Information System (INIS)

    Paulson, P.R.; Coles, G.; Shoemaker, S.

    2012-01-01

    We present CARIM, a decision support tool to aid in the evaluation of plans for converting control systems to digital instruments. The model provides the capability to optimize planning and resource allocation to reduce risk from multiple safety and economic perspectives. (author)

  18. A different approach to quantifying fire risks when decision making

    International Nuclear Information System (INIS)

    Hay, Adrian

    1991-01-01

    This article outlines an alternative approach to fire safety design which involves decision making on the basis of risk considerations. The methodology is being developed in conjunction with the nuclear industry but is considered equally applicable to other industrial facilities. (author)

  19. Emotion regulation and decision making under risk and uncertainty.

    Science.gov (United States)

    Heilman, Renata M; Crişan, Liviu G; Houser, Daniel; Miclea, Mircea; Miu, Andrei C

    2010-04-01

    It is well established that emotion plays a key role in human social and economic decision making. The recent literature on emotion regulation (ER), however, highlights that humans typically make efforts to control emotion experiences. This leaves open the possibility that decision effects previously attributed to acute emotion may be a consequence of acute ER strategies such as cognitive reappraisal and expressive suppression. In Study 1, we manipulated ER of laboratory-induced fear and disgust, and found that the cognitive reappraisal of these negative emotions promotes risky decisions (reduces risk aversion) in the Balloon Analogue Risk Task and is associated with increased performance in the prehunch/hunch period of the Iowa Gambling Task. In Study 2, we found that naturally occurring negative emotions also increase risk aversion in Balloon Analogue Risk Task, but the incidental use of cognitive reappraisal of emotions impedes this effect. We offer evidence that the increased effectiveness of cognitive reappraisal in reducing the experience of emotions underlies its beneficial effects on decision making. Copyright 2010 APA, all rights reserved.

  20. Perceptions of health risk and smoking decisions of young people

    NARCIS (Netherlands)

    Gerking, S.D.; Khaddaria, R.

    2012-01-01

    Using the Annenberg Perception of Tobacco Risk Survey 2, this paper finds that perceived risk deters smoking among persons aged 14–22 years who think that it is relatively difficult to quit smoking and that onset of deleterious health effects occurs relatively quickly. Perceived health risk,

  1. Needs for Risk Informing Environmental Cleanup Decision Making - 13613

    Energy Technology Data Exchange (ETDEWEB)

    Zhu, Ming; Moorer, Richard [U.S. Department of Energy, Washington, DC 20585 (United States)

    2013-07-01

    This paper discusses the needs for risk informing decision making by the U.S. Department of Energy (DOE) Office of Environmental Management (EM). The mission of the DOE EM is to complete the safe cleanup of the environmental legacy brought about from the nation's five decades of nuclear weapons development and production and nuclear energy research. This work represents some of the most technically challenging and complex cleanup efforts in the world and is projected to require the investment of billions of dollars and several decades to complete. Quantitative assessments of health and environmental risks play an important role in work prioritization and cleanup decisions of these challenging environmental cleanup and closure projects. The risk assessments often involve evaluation of performance of integrated engineered barriers and natural systems over a period of hundreds to thousands of years, when subject to complex geo-environmental transformation processes resulting from remediation and disposal actions. The requirement of resource investments for the cleanup efforts and the associated technical challenges have subjected the EM program to continuous scrutiny by oversight entities. Recent DOE reviews recommended application of a risk-informed approach throughout the EM complex for improved targeting of resources. The idea behind this recommendation is that by using risk-informed approaches to prioritize work scope, the available resources can be best utilized to reduce environmental and health risks across the EM complex, while maintaining the momentum of the overall EM cleanup program at a sustainable level. In response to these recommendations, EM is re-examining its work portfolio and key decision making with risk insights for the major sites. This paper summarizes the review findings and recommendations from the DOE internal reviews, discusses the needs for risk informing the EM portfolio and makes an attempt to identify topics for R and D in

  2. Needs for Risk Informing Environmental Cleanup Decision Making - 13613

    International Nuclear Information System (INIS)

    Zhu, Ming; Moorer, Richard

    2013-01-01

    This paper discusses the needs for risk informing decision making by the U.S. Department of Energy (DOE) Office of Environmental Management (EM). The mission of the DOE EM is to complete the safe cleanup of the environmental legacy brought about from the nation's five decades of nuclear weapons development and production and nuclear energy research. This work represents some of the most technically challenging and complex cleanup efforts in the world and is projected to require the investment of billions of dollars and several decades to complete. Quantitative assessments of health and environmental risks play an important role in work prioritization and cleanup decisions of these challenging environmental cleanup and closure projects. The risk assessments often involve evaluation of performance of integrated engineered barriers and natural systems over a period of hundreds to thousands of years, when subject to complex geo-environmental transformation processes resulting from remediation and disposal actions. The requirement of resource investments for the cleanup efforts and the associated technical challenges have subjected the EM program to continuous scrutiny by oversight entities. Recent DOE reviews recommended application of a risk-informed approach throughout the EM complex for improved targeting of resources. The idea behind this recommendation is that by using risk-informed approaches to prioritize work scope, the available resources can be best utilized to reduce environmental and health risks across the EM complex, while maintaining the momentum of the overall EM cleanup program at a sustainable level. In response to these recommendations, EM is re-examining its work portfolio and key decision making with risk insights for the major sites. This paper summarizes the review findings and recommendations from the DOE internal reviews, discusses the needs for risk informing the EM portfolio and makes an attempt to identify topics for R and D in integrated

  3. Low-Dose Risk, Decisions, and Risk Communication

    International Nuclear Information System (INIS)

    Flynn, James; Slovic, Paul

    2001-01-01

    To conduct basic research on how people receive, evaluate, and form positions on scientific information and its relationship to low-dose radiation exposure. There are three major areas of study in our research program. First is the development of theories, frameworks and concepts essential to guiding data collection and analysis. The second area is a program of experimental studies on risk perception, evaluation of science information, and the structure of individual positions regarding low dose exposures. This involves the study of existing knowledge and the evaluation of science information presented within a variety of formats, as educational information, news media stories, and alternative communication methods (personal contact, small group interaction, email and internet, etc.). Third is the community-level studies to examine and record how the social conditions, under which science communications take place, influence the development of attitudes and opinions about: low- dose exposures, the available management options, control of radiation risks, and preferences for program and policy goals

  4. Public participation in energy-related decision making: workshop proceedings

    International Nuclear Information System (INIS)

    1977-01-01

    This document contains edited transcripts of presentations and discussion at plenary sessions of a workshop on Public Participation in Energy Related Decision Making sponsored by the National Science Foundation and held at The MITRE Corporation in McLean, Virginia, on September 21 and 22, 1976. The Emergency Core Cooling System rulemaking, the consideration of Energy Parks in Pennsylvania, and the Seabrook, New Hampshire Nuclear Station decisions are summarized, and the process of public participation in each decision is analyzed by actual participants in the respective cases. Also summarized are the North Anna decision, the Sears Island decision, and the Big Rock Point decision. The conclusions and recommendations from working group discussions on the role and process of public participation are presented. An overall summary is provided, along with the final report of the National Academy of Public Administration Panel which was convened to assist in the design and conduct of the workshop. A companion volume to these proceedings, Public Participation in Energy Related Decision Making: Six Case Studies, M76-53, was distributed to participants prior to the workshop and includes complete case studies of the above six decisions

  5. INTEGRATED FRAMEWORK FOR ENHANCING EARTHQUAKE RISK MITIGATION DECISIONS

    Directory of Open Access Journals (Sweden)

    Temitope Egbelakin

    2015-12-01

    Full Text Available The increasing scale of losses from earthquake disasters has reinforced the need for property owners to become proactive in seismic risk reduction programs. However, despite advancement in seismic design methods and legislative frameworks, building owners are found unwilling or lack motivation to adopt adequate mitigation measures that will reduce their vulnerability to earthquake disasters. Various theories and empirical findings have been used to explain the adoption of protective behaviours including seismic mitigation decisions, but their application has been inadequate to enhance building owners’ protective decisions. A holistic framework that incorporates the motivational orientations of decision-making, coupled with the social, cultural, economic, regulatory, institutional and political realms of earthquake risk mitigation to enhance building owners’ decisions to voluntarily implement adequate mitigation measures, is proposed. This framework attempts to address any multi-disciplinary barriers that exist in earthquake disaster management, by ensuring that stakeholders involved in seismic mitigation decisions work together to foster seismic rehabilitation of EPBs, as well as illuminate strategies that will initiate, promote and sustain the adoption of long-term earthquake mitigation. .

  6. VALDOR 2003. Values in Decisions on Risk. Proceedings

    Energy Technology Data Exchange (ETDEWEB)

    Andersson, Kjell (ed.) [Karinta-Konsult, Taeby (Sweden)

    2003-10-01

    Many decisions that may have an impact on human health and the environment are often controversial and are made in value-laden and emotionally charged circumstances. The decision-making context is not only determined by the factual basis provided by the experts, but also by stakeholder pressure groups, extensive media coverage and the value systems of the experts themselves. Value judgements are often embedded in the technical assessments much more than usually appreciated. Risk assessment gives good opportunities to analyse and discuss these problems. It attracts great attention in modern society and requires contributions from a intricate mixture of technical risk assessment, sociology, ethics and political science. This complexity leads to high demands on transparency in order to arrive at high quality decisions, as well as requirements on public insight and participation. This symposium addressed the role of experts, media and and regulators in complex decisions, as well as procedures that can enhance transparency. Special focus was given to biotechnology and nuclear waste management. The problems of risk communication in these areas such as a high degree of complexity, fragmentation in debates, mixing facts and values, mistrust in experts, etc are shared with many other fields. The proceedings comprise 63 contributions, 50 of which have been separately indexed.

  7. VALDOR 2003. Values in Decisions on Risk. Proceedings

    International Nuclear Information System (INIS)

    Andersson, Kjell

    2003-10-01

    Many decisions that may have an impact on human health and the environment are often controversial and are made in value-laden and emotionally charged circumstances. The decision-making context is not only determined by the factual basis provided by the experts, but also by stakeholder pressure groups, extensive media coverage and the value systems of the experts themselves. Value judgements are often embedded in the technical assessments much more than usually appreciated. Risk assessment gives good opportunities to analyse and discuss these problems. It attracts great attention in modern society and requires contributions from a intricate mixture of technical risk assessment, sociology, ethics and political science. This complexity leads to high demands on transparency in order to arrive at high quality decisions, as well as requirements on public insight and participation. This symposium addressed the role of experts, media and and regulators in complex decisions, as well as procedures that can enhance transparency. Special focus was given to biotechnology and nuclear waste management. The problems of risk communication in these areas such as a high degree of complexity, fragmentation in debates, mixing facts and values, mistrust in experts, etc are shared with many other fields. The proceedings comprise 63 contributions, 50 of which have been separately indexed

  8. Importance of risk comparison for individual and societal decision-making after the Fukushima disaster.

    Science.gov (United States)

    Murakami, Michio

    2018-01-30

    Risk comparison is essential for effective societal and individual decision-making. After the Fukushima disaster, studies compared radiation and other disaster-related risks to determine the effective prioritizing of measures for response. Evaluating the value of risk comparison information can enable effective risk communication. In this review, the value of risk comparison after the Fukushima disaster for societal and individual decision-making is discussed while clarifying the concept of radiation risk assessment at low doses. The objectives of radiation risk assessment are explained within a regulatory science framework, including the historical adoption of the linear non-threshold theory. An example of risk comparison (i.e. radiation risk versus evacuation-related risk in nursing homes) is used to discuss the prioritization of pre-disaster measures. The effective communication of risk information by authorities is discussed with respect to group-based and face-to-face approaches. Furthermore, future perspectives regarding radiation risk comparisons are discussed. © The Author(s) 2018. Published by Oxford University Press on behalf of The Japan Radiation Research Society and Japanese Society for Radiation Oncology.

  9. Risk aversion and risk seeking in multicriteria forest management: a Markov decision process approach

    Science.gov (United States)

    Joseph Buongiorno; Mo Zhou; Craig Johnston

    2017-01-01

    Markov decision process models were extended to reflect some consequences of the risk attitude of forestry decision makers. One approach consisted of maximizing the expected value of a criterion subject to an upper bound on the variance or, symmetrically, minimizing the variance subject to a lower bound on the expected value.  The other method used the certainty...

  10. Risk perception as a factor in policy and decision making

    International Nuclear Information System (INIS)

    Sjoberg, L.

    2004-01-01

    Risk perception is often believed to be an important factor in policy decision making, when it comes to the management of hazardous technology. Research on risk perception by the public since the 1970's has purportedly shown that such perception is emotional and based on ignorance. Experts, on the other hand, have been claimed to be objective and correct in their risk assessments. The present paper reviews a large body of research which has led to a quite different conclusions, viz. that emotions play only a marginal role in risk perception, which is mainly driven by ideological concerns and attitudes. The methodological shortcomings of the prevailing view of risk perception as emotional and simply misinformed are described. (author)

  11. Hierarchical Modelling of Flood Risk for Engineering Decision Analysis

    DEFF Research Database (Denmark)

    Custer, Rocco

    protection structures in the hierarchical flood protection system - is identified. To optimise the design of protection structures, fragility and vulnerability models must allow for consideration of decision alternatives. While such vulnerability models are available for large protection structures (e...... systems, as well as the implementation of the flood risk analysis methodology and the vulnerability modelling approach are illustrated with an example application. In summary, the present thesis provides a characterisation of hierarchical flood protection systems as well as several methodologies to model...... and robust. Traditional risk management solutions, e.g. dike construction, are not particularly flexible, as they are difficult to adapt to changing risk. Conversely, the recent concept of integrated flood risk management, entailing a combination of several structural and non-structural risk management...

  12. On the treatment of dependence in making decisions about risk

    International Nuclear Information System (INIS)

    Bier, V.M.

    1989-01-01

    Much attention has been paid to the treatment of dependence in performing probabilistic risk assessments (PRA). For instance, causal dependencies (e.g., common cause failures, cascade failures, and intersystem dependencies) have been taken into account in PRAs beginning with the Reactor Safety Study (USNRC, 1975). In addition, beginning in the early 1980s, attention began to be paid to the issue of probabilistic dependence between the failure rates (Apostolakis and Kaplan, 1981) or seismic fragilities (Kaplan, 1985) of similar components, and the impact of such dependence on risk estimates. By now, it has been clearly demonstrated that failure to take either casual or probabilistic dependence into account in PRAs can lead to misleading results, typically underestimates of the true risk. However, there has been little attention to date on the effects of dependence in the area of decision making. The objectives of this paper are to illustrate the potential importance of dependence in making decisions about risks, and to present some ideas on how to communicate the effects of dependence to decision makers in a clear and easily comprehensible manner

  13. Hanford Site cleanup and transition: Risk data needs for decision making (Hanford risk data gap analysis decision guide)

    International Nuclear Information System (INIS)

    Gajewski, S.; Glantz, C.; Harper, B.; Bilyard, G.; Miller, P.

    1995-10-01

    Given the broad array of environmental problems, technical alternatives, and outcomes desired by different stakeholders at Hanford, DOE will have to make difficult resource allocations over the next few decades. Although some of these allocations will be driven purely by legal requirements, almost all of the major objectives of the cleanup and economic transition missions involve choices among alternative pathways. This study examined the following questions: what risk information is needed to make good decisions at Hanford; how do those data needs compare to the set(s) of risk data that will be generated by regulatory compliance activities and various non-compliance studies that are also concerned with risk? This analysis examined the Hanford Site missions, the Hanford Strategic Plan, known stakeholder values, and the most important decisions that have to be made at Hanford to determine a minimum domain of risk information required to make good decisions that will withstand legal, political, and technical scrutiny. The primary risk categories include (1) public health, (2) occupational health and safety, (3) ecological integrity, (4) cultural-religious welfare, and (5) socio-economic welfare

  14. Multi-criteria decision analysis and environmental risk assessment for nanomaterials

    International Nuclear Information System (INIS)

    Linkov, Igor; Satterstrom, F. Kyle; Steevens, Jeffery; Ferguson, Elizabeth; Pleus, Richard C.

    2007-01-01

    Nanotechnology is a broad and complex discipline that holds great promise for innovations that can benefit mankind. Yet, one must not overlook the wide array of factors involved in managing nanomaterial development, ranging from the technical specifications of the material to possible adverse effects in humans. Other opportunities to evaluate benefits and risks are inherent in environmental health and safety (EHS) issues related to nanotechnology. However, there is currently no structured approach for making justifiable and transparent decisions with explicit trade-offs between the many factors that need to be taken into account. While many possible decision-making approaches exist, we believe that multi-criteria decision analysis (MCDA) is a powerful and scientifically sound decision analytical framework for nanomaterial risk assessment and management. This paper combines state-of-the-art research in MCDA methods applicable to nanotechnology with a hypothetical case study for nanomaterial management. The example shows how MCDA application can balance societal benefits against unintended side effects and risks, and how it can also bring together multiple lines of evidence to estimate the likely toxicity and risk of nanomaterials given limited information on physical and chemical properties. The essential contribution of MCDA is to link this performance information with decision criteria and weightings elicited from scientists and managers, allowing visualization and quantification of the trade-offs involved in the decision-making process

  15. Multi-criteria decision analysis and environmental risk assessment for nanomaterials

    Science.gov (United States)

    Linkov, Igor; Satterstrom, F. Kyle; Steevens, Jeffery; Ferguson, Elizabeth; Pleus, Richard C.

    2007-08-01

    Nanotechnology is a broad and complex discipline that holds great promise for innovations that can benefit mankind. Yet, one must not overlook the wide array of factors involved in managing nanomaterial development, ranging from the technical specifications of the material to possible adverse effects in humans. Other opportunities to evaluate benefits and risks are inherent in environmental health and safety (EHS) issues related to nanotechnology. However, there is currently no structured approach for making justifiable and transparent decisions with explicit trade-offs between the many factors that need to be taken into account. While many possible decision-making approaches exist, we believe that multi-criteria decision analysis (MCDA) is a powerful and scientifically sound decision analytical framework for nanomaterial risk assessment and management. This paper combines state-of-the-art research in MCDA methods applicable to nanotechnology with a hypothetical case study for nanomaterial management. The example shows how MCDA application can balance societal benefits against unintended side effects and risks, and how it can also bring together multiple lines of evidence to estimate the likely toxicity and risk of nanomaterials given limited information on physical and chemical properties. The essential contribution of MCDA is to link this performance information with decision criteria and weightings elicited from scientists and managers, allowing visualization and quantification of the trade-offs involved in the decision-making process.

  16. Informed renesting decisions: the effect of nest predation risk.

    Science.gov (United States)

    Pakanen, Veli-Matti; Rönkä, Nelli; Thomson, Robert L; Koivula, Kari

    2014-04-01

    Animals should cue on information that predicts reproductive success. After failure of an initial reproductive attempt, decisions on whether or not to initiate a second reproductive attempt may be affected by individual experience and social information. If the prospects of breeding success are poor, long-lived animals in particular should not invest in current reproductive success (CRS) in case it generates costs to future reproductive success (FRS). In birds, predation risk experienced during breeding may provide a cue for renesting success. Species having a high FRS potential should be flexible and take predation risk into account in their renesting decisions. We tested this prediction using breeding data of a long-lived wader, the southern dunlin Calidris alpina schinzii. As predicted, dunlin cued on predation risk information acquired from direct experience of nest failure due to predation and ambient nest predation risk. While the overall renesting rate was low (34.5%), the early season renesting rate was high but declined with season, indicating probable temporal changes in the costs and benefits of renesting. We develop a conceptual cost-benefit model to describe the effects of the phase and the length of breeding season on predation risk responses in renesting. We suggest that species investing in FRS should not continue breeding in short breeding seasons in response to predation risk but without time constraints, their response should be similar to species investing in CRS, e.g. within-season dispersal and increased nest concealment.

  17. The Role of Cumulative Risk Assessment in Decisions about Environmental Justice

    Directory of Open Access Journals (Sweden)

    Ken Sexton

    2010-11-01

    Full Text Available There is strong presumptive evidence that people living in poverty and certain racial and ethnic groups bear a disproportionate burden of environmental health risk. Many have argued that conducting formal assessments of the health risk experienced by affected communities is both unnecessary and counterproductive—that instead of analyzing the situation our efforts should be devoted to fixing obvious problems and rectifying observable wrongs. We contend that formal assessment of cumulative health risks from combined effects of chemical and nonchemical stressors is a valuable tool to aid decision makers in choosing risk management options that are effective, efficient, and equitable. If used properly, cumulative risk assessment need not impair decision makers’ discretion, nor should it be used as an excuse for doing nothing in the face of evident harm. Good policy decisions require more than good intentions; they necessitate analysis of risk-related information along with careful consideration of economic issues, ethical and moral principles, legal precedents, political realities, cultural beliefs, societal values, and bureaucratic impediments. Cumulative risk assessment can provide a systematic and impartial means for informing policy decisions about environmental justice.

  18. A new approach to hazardous materials transportation risk analysis: decision modeling to identify critical variables.

    Science.gov (United States)

    Clark, Renee M; Besterfield-Sacre, Mary E

    2009-03-01

    We take a novel approach to analyzing hazardous materials transportation risk in this research. Previous studies analyzed this risk from an operations research (OR) or quantitative risk assessment (QRA) perspective by minimizing or calculating risk along a transport route. Further, even though the majority of incidents occur when containers are unloaded, the research has not focused on transportation-related activities, including container loading and unloading. In this work, we developed a decision model of a hazardous materials release during unloading using actual data and an exploratory data modeling approach. Previous studies have had a theoretical perspective in terms of identifying and advancing the key variables related to this risk, and there has not been a focus on probability and statistics-based approaches for doing this. Our decision model empirically identifies the critical variables using an exploratory methodology for a large, highly categorical database involving latent class analysis (LCA), loglinear modeling, and Bayesian networking. Our model identified the most influential variables and countermeasures for two consequences of a hazmat incident, dollar loss and release quantity, and is one of the first models to do this. The most influential variables were found to be related to the failure of the container. In addition to analyzing hazmat risk, our methodology can be used to develop data-driven models for strategic decision making in other domains involving risk.

  19. Decision making under explicit risk is impaired in individuals with human immunodeficiency virus (HIV).

    Science.gov (United States)

    Fujiwara, Esther; Tomlinson, Sara E; Purdon, Scot E; Gill, M John; Power, Christopher

    2015-01-01

    Human immunodeficiency virus (HIV) can affect the frontal-striatal brain regions, which are known to subserve decision-making functions. Previous studies have reported impaired decision making among HIV+ individuals using the Iowa Gambling Task, a task that assesses decision making under ambiguity. Previous study populations often had significant comorbidities such as past or present substance use disorders and/or hepatitis C virus coinfection, complicating conclusions about the unique contributions of HIV-infection to decision making. Decision making under explicit risk has very rarely been examined in HIV+ individuals and was tested here using the Game of Dice Task (GDT). We examined decision making under explicit risk in the GDT in 20 HIV+ individuals without substance use disorder or HCV coinfection, including a demographically matched healthy control group (n = 20). Groups were characterized on a standard neuropsychological test battery. For the HIV+ group, several disease-related parameters (viral load, current and nadir CD4 T-cell count) were included. Analyses focused on the GDT and spanned between-group (t-tests; analysis of covariance, ANCOVA) as well as within-group comparisons (Pearson/Spearman correlations). HIV+ individuals were impaired in the GDT, compared to healthy controls (p = .02). Their decision-making impairments were characterized by less advantageous choices and more random choice strategies, especially towards the end of the task. Deficits in the GDT in the HIV+ group were related to executive dysfunctions, slowed processing/motor speed, and current immune system status (CD4+ T-cell levels, ps Decision making under explicit risk in the GDT can occur in HIV-infected individuals without comorbidities. The correlational patterns may point to underlying fronto-subcortical dysfunctions in HIV+ individuals. The GDT provides a useful measure to assess risky decision making in this population and should be tested in larger studies.

  20. Including model uncertainty in risk-informed decision making

    International Nuclear Information System (INIS)

    Reinert, Joshua M.; Apostolakis, George E.

    2006-01-01

    Model uncertainties can have a significant impact on decisions regarding licensing basis changes. We present a methodology to identify basic events in the risk assessment that have the potential to change the decision and are known to have significant model uncertainties. Because we work with basic event probabilities, this methodology is not appropriate for analyzing uncertainties that cause a structural change to the model, such as success criteria. We use the risk achievement worth (RAW) importance measure with respect to both the core damage frequency (CDF) and the change in core damage frequency (ΔCDF) to identify potentially important basic events. We cross-check these with generically important model uncertainties. Then, sensitivity analysis is performed on the basic event probabilities, which are used as a proxy for the model parameters, to determine how much error in these probabilities would need to be present in order to impact the decision. A previously submitted licensing basis change is used as a case study. Analysis using the SAPHIRE program identifies 20 basic events as important, four of which have model uncertainties that have been identified in the literature as generally important. The decision is fairly insensitive to uncertainties in these basic events. In three of these cases, one would need to show that model uncertainties would lead to basic event probabilities that would be between two and four orders of magnitude larger than modeled in the risk assessment before they would become important to the decision. More detailed analysis would be required to determine whether these higher probabilities are reasonable. Methods to perform this analysis from the literature are reviewed and an example is demonstrated using the case study

  1. Relational Algebra in Spatial Decision Support Systems Ontologies.

    Science.gov (United States)

    Diomidous, Marianna; Chardalias, Kostis; Koutonias, Panagiotis; Magnita, Adrianna; Andrianopoulos, Charalampos; Zimeras, Stelios; Mechili, Enkeleint Aggelos

    2017-01-01

    Decision Support Systems (DSS) is a powerful tool, for facilitates researchers to choose the correct decision based on their final results. Especially in medical cases where doctors could use these systems, to overcome the problem with the clinical misunderstanding. Based on these systems, queries must be constructed based on the particular questions that doctors must answer. In this work, combination between questions and queries would be presented via relational algebra.

  2. The Role of Intuition in Risk/Benefit Decision-Making in Human Subjects Research.

    Science.gov (United States)

    Resnik, David B

    2017-01-01

    One of the key principles of ethical research involving human subjects is that the risks of research to should be acceptable in relation to expected benefits. Institutional review board (IRB) members often rely on intuition to make risk/benefit decisions concerning proposed human studies. Some have objected to using intuition to make these decisions because intuition is unreliable and biased and lacks transparency. In this article, I examine the role of intuition in IRB risk/benefit decision-making and argue that there are practical and philosophical limits to our ability to reduce our reliance on intuition in this process. The fact that IRB risk/benefit decision-making involves intuition need not imply that it is hopelessly subjective or biased, however, since there are strategies that IRBs can employ to improve their decisions, such as using empirical data to estimate the probability of potential harms and benefits, developing classification systems to guide the evaluation of harms and benefits, and engaging in moral reasoning concerning the acceptability of risks.

  3. Second-Order Risk Constraints in Decision Analysis

    Directory of Open Access Journals (Sweden)

    Love Ekenberg

    2014-01-01

    Full Text Available Recently, representations and methods aimed at analysing decision problems where probabilities and values (utilities are associated with distributions over them (second-order representations have been suggested. In this paper we present an approach to how imprecise information can be modelled by means of second-order distributions and how a risk evaluation process can be elaborated by integrating procedures for numerically imprecise probabilities and utilities. We discuss some shortcomings of the use of the principle of maximising the expected utility and of utility theory in general, and offer remedies by the introduction of supplementary decision rules based on a concept of risk constraints taking advantage of second-order distributions.

  4. Exploiting risk-reward structures in decision making under uncertainty.

    Science.gov (United States)

    Leuker, Christina; Pachur, Thorsten; Hertwig, Ralph; Pleskac, Timothy J

    2018-06-01

    People often have to make decisions under uncertainty-that is, in situations where the probabilities of obtaining a payoff are unknown or at least difficult to ascertain. One solution to this problem is to infer the probability from the magnitude of the potential payoff and thus exploit the inverse relationship between payoffs and probabilities that occurs in many domains in the environment. Here, we investigated how the mind may implement such a solution: (1) Do people learn about risk-reward relationships from the environment-and if so, how? (2) How do learned risk-reward relationships impact preferences in decision-making under uncertainty? Across three experiments (N = 352), we found that participants can learn risk-reward relationships from being exposed to choice environments with a negative, positive, or uncorrelated risk-reward relationship. They were able to learn the associations both from gambles with explicitly stated payoffs and probabilities (Experiments 1 & 2) and from gambles about epistemic events (Experiment 3). In subsequent decisions under uncertainty, participants often exploited the learned association by inferring probabilities from the magnitudes of the payoffs. This inference systematically influenced their preferences under uncertainty: Participants who had been exposed to a negative risk-reward relationship tended to prefer the uncertain option over a smaller sure option for low payoffs, but not for high payoffs. This pattern reversed in the positive condition and disappeared in the uncorrelated condition. This adaptive change in preferences is consistent with the use of the risk-reward heuristic. Copyright © 2018 Elsevier B.V. All rights reserved.

  5. Tank Waste Remediation System decisions and risk assessment

    International Nuclear Information System (INIS)

    Johnson, M.E.

    1994-09-01

    The Tank Waste Remediation System (TWRS) mission is to store, treat, and immobilize the highly radioactive Hanford Site tank wastes and encapsulated cesium and strontium materials in an environmentally sound, safe, and cost effective manner. Additionally, the TWRS conducts, as part of this mission, resolution of safety issues associated with the wastes within the 177 underground radioactive waste tanks. Systems engineering principles are being applied to determine the functions and establish requirements necessary for accomplishing the TWRS mission (DOE 1994 draft). This systematic evaluation of the TWRS program has identified key decisions that must be executed to establish mission scope, determine requirements, or select a technical solution for accomplishing identified functions and requirements. Key decisions identified through the systematic evaluation of the TWRS mission are presented in this document. Potential alternative solutions to each decision are discussed. After-discussion and evaluation of each decision with effected stakeholder groups, the US Department of Energy (DOE) will select a solution from the identified alternatives for implementation. In order to proceed with the development and execution of the tank waste remediation program, the DOE has adopted a planning basis for several of these decisions, until a formal basis is established. The planning bases adopted by the DOE is continuing to be discussed with stakeholder groups to establish consensus for proceeding with proposed actions. Technical and programmatic risks associated with the planning basis adopted by the DOE are discussed

  6. Optimising risk reduction: An expected utility approach for marginal risk reduction during regulatory decision making

    International Nuclear Information System (INIS)

    Li Jiawei; Pollard, Simon; Kendall, Graham; Soane, Emma; Davies, Gareth

    2009-01-01

    In practice, risk and uncertainty are essentially unavoidable in many regulation processes. Regulators frequently face a risk-benefit trade-off since zero risk is neither practicable nor affordable. Although it is accepted that cost-benefit analysis is important in many scenarios of risk management, what role it should play in a decision process is still controversial. One criticism of cost-benefit analysis is that decision makers should consider marginal benefits and costs, not present ones, in their decision making. In this paper, we investigate the problem of regulatory decision making under risk by applying expected utility theory and present a new approach of cost-benefit analysis. Directly taking into consideration the reduction of the risks, this approach achieves marginal cost-benefit analysis. By applying this approach, the optimal regulatory decision that maximizes the marginal benefit of risk reduction can be considered. This provides a transparent and reasonable criterion for stakeholders involved in the regulatory activity. An example of evaluating seismic retrofitting alternatives is provided to demonstrate the potential of the proposed approach.

  7. Intelligent Decision Support System for Bank Loans Risk Classification

    Institute of Scientific and Technical Information of China (English)

    杨保安; 马云飞; 俞莲

    2001-01-01

    Intelligent Decision Support System (IISS) for Bank Loans Risk Classification (BLRC), based on the way of integration Artificial Neural Network (ANN) and Expert System (ES), is proposed. According to the feature of BLRC, the key financial and non-financial factors are analyzed. Meanwhile, ES and Model Base (MB) which contain ANN are designed . The general framework,interaction and integration of the system are given. In addition, how the system realizes BLRC is elucidated in detail.

  8. Quantified risk assessment: its input to decision making

    International Nuclear Information System (INIS)

    1989-01-01

    The conclusions are that QRA cannot be ignored in decision making, that human behaviour can significantly influence the standard of safety achieved in practice, that QRA can assist judgement, that it is not legitimate to 'read across' risk figures from one type of hazard to another to infer a uniform numerical level or limit and finally that major disasters can and do happen but the chance of any one happening must be kept very low. (author)

  9. Perceived risks around choice and decision making at end-of-life: a literature review.

    Science.gov (United States)

    Wilson, F; Gott, M; Ingleton, C

    2013-01-01

    the World Health Organization identifies meeting patient choice for care as central to effective palliative care delivery. Little is known about how choice, which implies an objective balancing of options and risks, is understood and enacted through decision making at end-of-life. to explore how perceptions of 'risk' may inform decision-making processes at end-of-life. an integrative literature review was conducted between January and February 2010. Papers were reviewed using Hawker et al.'s criteria and evaluated according to clarity of methods, analysis and evidence of ethical consideration. All literature was retained as background data, but given the significant international heterogeneity the final analysis specifically focused on the UK context. the databases Medline, PsycINFO, Assia, British Nursing Index, High Wire Press and CINAHL were explored using the search terms decision*, risk, anxiety, hospice and palliative care, end-of-life care and publication date of 1998-2010. thematic analysis of 25 papers suggests that decision making at end-of-life is multifactorial, involving a balancing of risks related to caregiver support; service provider resources; health inequalities and access; challenges to information giving; and perceptions of self-identity. Overall there is a dissonance in understandings of choice and decision making between service providers and service users. the concept of risk acknowledges the factors that shape and constrain end-of-life choices. Recognition of perceived risks as a central factor in decision making would be of value in acknowledging and supporting meaningful decision making processes for patients with palliative care needs and their families.

  10. Neurofunctional correlates of ethical, food-related decision-making.

    Science.gov (United States)

    Cherry, J Bradley C; Bruce, Jared M; Lusk, Jayson L; Crespi, John M; Lim, Seung-Lark; Bruce, Amanda S

    2015-01-01

    For consumers today, the perceived ethicality of a food's production method can be as important a purchasing consideration as its price. Still, few studies have examined how, neurofunctionally, consumers are making ethical, food-related decisions. We examined how consumers' ethical concern about a food's production method may relate to how, neurofunctionally, they make decisions whether to purchase that food. Forty-six participants completed a measure of the extent to which they took ethical concern into consideration when making food-related decisions. They then underwent a series of functional magnetic resonance imaging (fMRI) scans while performing a food-related decision-making (FRDM) task. During this task, they made 56 decisions whether to purchase a food based on either its price (i.e., high or low, the "price condition") or production method (i.e., with or without the use of cages, the "production method condition"), but not both. For 23 randomly selected participants, we performed an exploratory, whole-brain correlation between ethical concern and differential neurofunctional activity in the price and production method conditions. Ethical concern correlated negatively and significantly with differential neurofunctional activity in the left dorsolateral prefrontal cortex (dlPFC). For the remaining 23 participants, we performed a confirmatory, region-of-interest (ROI) correlation between the same variables, using an 8-mm3 volume situated in the left dlPFC. Again, the variables correlated negatively and significantly. This suggests, when making ethical, food-related decisions, the more consumers take ethical concern into consideration, the less they may rely on neurofunctional activity in the left dlPFC, possibly because making these decisions is more routine for them, and therefore a more perfunctory process requiring fewer cognitive resources.

  11. Presenting quantitative information about decision outcomes: a risk communication primer for patient decision aid developers

    Science.gov (United States)

    2013-01-01

    Background Making evidence-based decisions often requires comparison of two or more options. Research-based evidence may exist which quantifies how likely the outcomes are for each option. Understanding these numeric estimates improves patients’ risk perception and leads to better informed decision making. This paper summarises current “best practices” in communication of evidence-based numeric outcomes for developers of patient decision aids (PtDAs) and other health communication tools. Method An expert consensus group of fourteen researchers from North America, Europe, and Australasia identified eleven main issues in risk communication. Two experts for each issue wrote a “state of the art” summary of best evidence, drawing on the PtDA, health, psychological, and broader scientific literature. In addition, commonly used terms were defined and a set of guiding principles and key messages derived from the results. Results The eleven key components of risk communication were: 1) Presenting the chance an event will occur; 2) Presenting changes in numeric outcomes; 3) Outcome estimates for test and screening decisions; 4) Numeric estimates in context and with evaluative labels; 5) Conveying uncertainty; 6) Visual formats; 7) Tailoring estimates; 8) Formats for understanding outcomes over time; 9) Narrative methods for conveying the chance of an event; 10) Important skills for understanding numerical estimates; and 11) Interactive web-based formats. Guiding principles from the evidence summaries advise that risk communication formats should reflect the task required of the user, should always define a relevant reference class (i.e., denominator) over time, should aim to use a consistent format throughout documents, should avoid “1 in x” formats and variable denominators, consider the magnitude of numbers used and the possibility of format bias, and should take into account the numeracy and graph literacy of the audience. Conclusion A substantial and

  12. Multivariate Risk-Return Decision Making Within Dynamic Estimation

    Directory of Open Access Journals (Sweden)

    Josip Arnerić

    2008-10-01

    Full Text Available Risk management in this paper is focused on multivariate risk-return decision making assuming time-varying estimation. Empirical research in risk management showed that the static "mean-variance" methodology in portfolio optimization is very restrictive with unrealistic assumptions. The objective of this paper is estimation of time-varying portfolio stocks weights by constraints on risk measure. Hence, risk measure dynamic estimation is used in risk controlling. By risk control manager makes free supplementary capital for new investments.Univariate modeling approach is not appropriate, even when portfolio returns are treated as one variable. Portfolio weights are time-varying, and therefore it is necessary to reestimate whole model over time. Using assumption of bivariate Student´s t-distribution, in multivariate GARCH(p,q models, it becomes possible to forecast time-varying portfolio risk much more precisely. The complete procedure of analysis is established from Zagreb Stock Exchange using daily observations of Pliva and Podravka stocks.

  13. The precautionary principle and/or risk assessment in World Trade Organization decisions: a possible role for risk perception.

    Science.gov (United States)

    Goldstein, Bernard; Carruth, Russellyn S

    2004-04-01

    Risk analysis has been recognized and validated in World Trade Organization (WTO) decision processes. In recent years the precautionary principle has been proposed as an additional or alternative approach to standard risk assessment. The precautionary principle has also been advocated by some who see it as part of postmodern democracy in which more power is given to the public on health and safety matters relative to the judgments of technocrats. A more cynical view is that the precautionary principle is particularly championed by the European Community as a means to erect trade barriers. The WTO ruling against the European Community's trade barrier against beef from hormone-treated cattle seemed to support the use of risk assessment and appeared to reject the argument that the precautionary principle was a legitimate basis for trade barriers. However, a more recent WTO decision on asbestos contains language suggesting that the precautionary principle, in the form of taking into account public perception, may be acceptable as a basis for a trade barrier. This decision, if followed in future WTO trade disputes, such as for genetically modified foods, raises many issues central to the field of risk analysis. It is too early to tell whether the precautionary principle will become accepted in WTO decisions, either as a supplement or a substitute for standard risk assessment. But it would undermine the value of the precautionary principle if this principle were misused to justify unwarranted trade barriers.

  14. Differentiating the influence of incidental anger and fear on risk decision-making.

    Science.gov (United States)

    Yang, Qiwei; Zhao, Ding; Wu, Yan; Tang, Ping; Gu, Ruolei; Luo, Yue-Jia

    2018-02-01

    Previous research has revealed that incidental emotions of different valence (positive/negative/neutral) produce distinct impacts on risk decision-making. This study went on to compare the effects of different emotions of which the valence are identical. We focused on anger and fear, both of which are negative emotions but differ in motivational and appraisal dimensions. Participants finished a forced-choice gambling task, during which incidental emotions (anger/fear/happy) were elicited by facial stimuli selected from the Chinese Facial Affective Picture System. Behavioral and event-related potential (ERP) data were recorded in the experiment, which showed that anger and fear were different in their influence on behavioral risk preference and the relationship between outcome processing and subsequent risk decisions. Regarding the behavioral results, risk preference in the anger condition was higher than the fear condition, but lower than the happy condition. Regarding the ERP results elicited by outcome feedback (gain/loss), in the fear condition, the feedback-related negativity (FRN) was positively correlated with risk preference; in the anger condition, the gain-related P3 component was positively correlated with risk preference; in the happy condition, both the FRN and the loss-related P3 was negatively correlated with risk preference. The current findings provide novel insight into distinguishing the effect of different incidental emotions on risk preference. Copyright © 2017 Elsevier Inc. All rights reserved.

  15. Precautionary principles: a jurisdiction-free framework for decision-making under risk.

    Science.gov (United States)

    Ricci, Paolo F; Cox, Louis A; MacDonald, Thomas R

    2004-12-01

    relevance of new information, relative to the initial (and smaller) set of data on which the decision was based. We exemplify this seemingly simple situation using risk management of BSE. As an integral aspect of causal analysis under risk, the methods developed in this paper permit the addition of non-linear, hormetic dose-response models to the current set of regulatory defaults such as the linear, non-threshold models. This increase in the number of defaults is an important improvement because most of the variants of the precautionary principle require cost-benefit balancing. Specifically, increasing the set of causal defaults accounts for beneficial effects at very low doses. We also show and conclude that quantitative risk assessment dominates qualitative risk assessment, supporting the extension of the set of default causal models.

  16. Modelling risk aversion to support decision-making for controlling zoonotic livestock diseases.

    Science.gov (United States)

    van Asseldonk, M A P M; Bergevoet, R H M; Ge, L

    2013-12-01

    Zoonotic infectious livestock diseases are becoming a significant burden for both animal and human health and are rapidly gaining the attention of decision-makers who manage public health programmes. If control decisions have only monetary components, governments are generally regarded as being risk-neutral and the intervention strategy with the highest expected benefit (lowest expected net costs) should be preferred. However, preferences will differ and alternative intervention plans will prevail if (human) life and death outcomes are involved. A rational decision framework must therefore consider risk aversion in the decision-maker and controversial values related to public health. In the present study, risk aversion and its impact on both the utility for the monetary component and the utility for the non-monetary component is shown to be an important element when dealing with emerging zoonotic infectious livestock diseases and should not be ignored in the understanding and support of decision-making. The decision framework was applied to several control strategies for the reduction of human cases of brucellosis (Brucella melitensis) originating from sheep in Turkey.

  17. Affective Influences on Energy-Related Decisions and Behaviors

    Energy Technology Data Exchange (ETDEWEB)

    Brosch, Tobias, E-mail: tobias.brosch@unige.ch [Department of Psychology, University of Geneva, Geneva (Switzerland); Swiss Center of Affective Sciences, University of Geneva, Geneva (Switzerland); Patel, Martin K. [Energy Group, Institute for Environmental Sciences, University of Geneva, Geneva (Switzerland); Energy Group, Forel Institute, University of Geneva, Geneva (Switzerland); Sander, David [Department of Psychology, University of Geneva, Geneva (Switzerland); Swiss Center of Affective Sciences, University of Geneva, Geneva (Switzerland)

    2014-03-17

    A successful energy transition will depend not only on the development of new energy technologies, but also on changes in the patterns of individual energy-related decisions and behaviors resulting in substantial reductions in energy demand. Across scientific disciplines, most theoretical approaches that try to understand energy-related decisions and behaviors focus mainly on cognitive processes, such as computations of utility (typically economic), the impact of cognitive heuristics, or the role of individual beliefs. While these models already explain important aspects of human decisions and behavior in the energy domain, we argue that an additional consideration of the contributions of emotional processes may be very fruitful for a deeper understanding of the issue. In this contribution, we outline a theoretical perspective on energy-related decisions and behaviors that integrates emotions, elicited by a cognitive-affective appraisal of the relevance of a situation, into a response system driving adaptive decisions and behaviors. We empirically investigate the explanatory power of the model variables to predict intentions to reduce energy use demonstrating that the appraisal–emotion variables are able to account for additional variance that is not explained by two established models focused on cognitive processes (theory of planned behavior and value-belief-norm theory). Finally, we discuss how the appraisal–emotion approach may be fruitfully integrated with other existing approaches and outline some questions for future research.

  18. Affective Influences on Energy-Related Decisions and Behaviors

    International Nuclear Information System (INIS)

    Brosch, Tobias; Patel, Martin K.; Sander, David

    2014-01-01

    A successful energy transition will depend not only on the development of new energy technologies, but also on changes in the patterns of individual energy-related decisions and behaviors resulting in substantial reductions in energy demand. Across scientific disciplines, most theoretical approaches that try to understand energy-related decisions and behaviors focus mainly on cognitive processes, such as computations of utility (typically economic), the impact of cognitive heuristics, or the role of individual beliefs. While these models already explain important aspects of human decisions and behavior in the energy domain, we argue that an additional consideration of the contributions of emotional processes may be very fruitful for a deeper understanding of the issue. In this contribution, we outline a theoretical perspective on energy-related decisions and behaviors that integrates emotions, elicited by a cognitive-affective appraisal of the relevance of a situation, into a response system driving adaptive decisions and behaviors. We empirically investigate the explanatory power of the model variables to predict intentions to reduce energy use demonstrating that the appraisal–emotion variables are able to account for additional variance that is not explained by two established models focused on cognitive processes (theory of planned behavior and value-belief-norm theory). Finally, we discuss how the appraisal–emotion approach may be fruitfully integrated with other existing approaches and outline some questions for future research.

  19. Affective influences on energy-related decisions and behaviors

    Directory of Open Access Journals (Sweden)

    Tobias eBrosch

    2014-03-01

    Full Text Available A successful energy transition will depend not only on the development of new energy technologies, but also on changes in the patterns of individual energy-related decisions and behaviors resulting in substantial reductions in energy demand. Across scientific disciplines, most theoretical approaches that try to understand energy-related decisions and behaviors focus mainly on cognitive processes, such as computations of utility (typically economic, the impact of cognitive heuristics, or the role of individual beliefs. While these models already explain important aspects of human decisions and behavior in the energy domain, we argue that an additional consideration of the contributions of emotional processes may be very fruitful for a deeper understanding of the issue. In this contribution, we outline a theoretical perspective on energy-related decisions and behaviors that integrates emotions, elicited by a cognitive-affective appraisal of the relevance of a situation, into a response system driving adaptive decisions and behaviors. We empirically investigate the explanatory power of the model variables to predict intentions to reduce energy use, demonstrating that the appraisal-emotion variables are able to account for additional variance that is not explained by two established models focused on cognitive processes (Theory of Planned Behavior and Value-Belief-Norm Theory. Finally, we discuss how the appraisal-emotion approach may be fruitfully integrated with other existing approaches and outline some questions for future research.

  20. The relationship between burnout and risk-taking in workplace decision-making and decision-making style

    OpenAIRE

    Michailidis, E; Banks, AP

    2016-01-01

    The study aimed to investigate what type of decision styles are exhibited by employees who experience burnout. Using a Work Risk Inventory (WRI), developed for this study, which included generic workplace scenarios, it was also explored whether employees experiencing burnout take more risky decisions. Risk was conceptualised as the adoption of threatening decisions towards one’s reputation at work, job performance and job security. The mediating effect of the likelihood and seriousness of the...

  1. Decision-Making for Systemic Water Risks: Insights From a Participatory Risk Assessment Process in Vietnam

    Science.gov (United States)

    Wyrwoll, Paul R.; Grafton, R. Quentin; Daniell, Katherine A.; Chu, Hoang Long; Ringler, Claudia; Lien, Le Thi Ha; Khoi, Dang Kim; Do, Thang Nam; Tuan, Nguyen Do Anh

    2018-03-01

    Systemic threats to food-energy-environment-water systems require national policy responses. Yet complete control of these complex systems is impossible and attempts to mitigate systemic risks can generate unexpected feedback effects. Perverse outcomes from national policy can emerge from the diverse responses of decision-makers across different levels and scales of resource governance. Participatory risk assessment processes can help planners to understand subnational dynamics and ensure that policies do not undermine the resilience of social-ecological systems and infrastructure networks. Researchers can play an important role in participatory processes as both technical specialists and brokers of stakeholder knowledge on the feedbacks generated by systemic risks and policy decisions. Here, we evaluate the use of causal modeling and participatory risk assessment to develop national policy on systemic water risks. We present an application of the Risks and Options Assessment for Decision-Making (ROAD) process to a district of Vietnam where national agricultural water reforms are being piloted. The methods and results of this project provide general insights about how to support resilient decision-making, including the transfer of knowledge across administrative levels, identification of feedback effects, and the effective implementation of risk assessment processes.

  2. Integrating risk management and safety culture in a framework for risk informed decision making

    International Nuclear Information System (INIS)

    Nelson, W.R.

    2009-01-01

    Operators and regulators of nuclear power plants agree on the importance of maintaining safety and controlling accident risks. Effective safety and risk management requires treatment of both technical and organizational components. Probabilistic Risk Assessment (PRA) provides tools for technical risk management. However, organizational factors are not treated in PRA, but are addressed using different approaches. To bring both components together, a framework of Risk Informed Decision Making (RIDM) is needed. The objective tree structure of the International Atomic Energy Agency (IAEA) is a promising approach to combine both elements. Effective collaboration involving regulatory and industry groups is needed to accomplish the integration. (author)

  3. Risk and uncertainty in the structure of management decision support

    International Nuclear Information System (INIS)

    Valeca, Serban Constantin

    2002-01-01

    The monograph is structured into five chapters addressing the following subject matters: 1 - The risk descriptor implied by the power systems with nuclear injection; 1.1 - Concepts and operators for describing the nuclear power risk; 1.2 - Risk approach in a holistic conception; 2 - Modelling the risk in the frame of re-engineering concept; 2.1 - Defining and interpreting the power re-engineering; 2.2 - Managerial re-engineering of power production systems; 3 - Informatics system of managing the power objectives with nuclear injection; 3.1 - Informatics systems for risk at the level of CANDU - 600 nuclear plant; 3.2. - Expert function structure applicable to the management of power objectives with nuclear injection; 4 - Assisting support in the operation of nuclear facilities; 4.1 - Assisting support system for nuclear plant operation; 4.2 - Program products for dedicated drivers; 5 - The management decision activities at the level of power systems with nuclear injection; 5.1 - Preliminaries in making power decision; 5.2 - Applications of decision models of sustainable power systems with nuclear injection; 5.3 - Re-engineering of power decision in the frame of maximal utility theory. The successful application of re-engineering concept is based on knowledge and managing capacity of design leadership and its ability of dealing the error generating sources. The main stages of implementing successfully the re-engineering are: - Replacing the pollution processes instead of adjusting measures; - Raising the designer responsibility by radical innovation of processes' architecture; - Re-designing the processes by basic changes at the level of the management functions and structures; - Raising the personnel professionalism by motivation as optimal way of improving the workers mentalities; - Accurate definition of objectives in the frame of re-engineering program; - Application of re-engineering in industrial units starting from the management level; - Selecting as general

  4. Assessing the value of risk: Perspectives on the role of risk information in decision making

    Energy Technology Data Exchange (ETDEWEB)

    Egan, M.; Smith, Graham; Maul, P. [QuantiSci Limited, Henley-on-Thames (United Kingdom)

    1999-12-01

    The authors of this paper profess no formal ethical or philosophical training from which to develop their position on Values in Decisions on Risk. However, as scientists with practical experience in carrying out a range of quantitative studies, we consider that we have some understanding of the strengths and weaknesses inherent in environmental risk assessment. Moreover, in attempting to use the results of such assessments, we have observed some of the ways in which quantitative risk information is used and abused. In this paper, therefore, we offer a practitioner's perspective that underlines the essential role of risk as a tool to inform and guide decisions, while at the same time emphasising the need for its proportionate use in a complex arena. We draw on experience that includes assessments for radioactive waste management and disposal, but also incorporates a range of assignments where assessment of the scale of potential environmental liabilities was a critical factor in decision making. We do not pretend to offer a resolution to the challenges laid before this Symposium, but seek to explore common themes and lessons learned regarding the role of risk information in goal-setting, performance monitoring and the overall decision process. Policy makers and regulators must act responsibly to protect confidence, not just the health of people and the environment. In doing this, to ignore risk information as a key component of strategic thinking is equally as disproportionate as making it the sole basis for decision making. There is a clear need to explain better the basis of, and motives behind, decisions - not only in terms of transparency in risk assessment but also to distinguish between the scientific and the socio-political component of the argument.

  5. Assessing the value of risk: Perspectives on the role of risk information in decision making

    International Nuclear Information System (INIS)

    Egan, M.; Smith, Graham; Maul, P.

    1999-01-01

    The authors of this paper profess no formal ethical or philosophical training from which to develop their position on Values in Decisions on Risk. However, as scientists with practical experience in carrying out a range of quantitative studies, we consider that we have some understanding of the strengths and weaknesses inherent in environmental risk assessment. Moreover, in attempting to use the results of such assessments, we have observed some of the ways in which quantitative risk information is used and abused. In this paper, therefore, we offer a practitioner's perspective that underlines the essential role of risk as a tool to inform and guide decisions, while at the same time emphasising the need for its proportionate use in a complex arena. We draw on experience that includes assessments for radioactive waste management and disposal, but also incorporates a range of assignments where assessment of the scale of potential environmental liabilities was a critical factor in decision making. We do not pretend to offer a resolution to the challenges laid before this Symposium, but seek to explore common themes and lessons learned regarding the role of risk information in goal-setting, performance monitoring and the overall decision process. Policy makers and regulators must act responsibly to protect confidence, not just the health of people and the environment. In doing this, to ignore risk information as a key component of strategic thinking is equally as disproportionate as making it the sole basis for decision making. There is a clear need to explain better the basis of, and motives behind, decisions - not only in terms of transparency in risk assessment but also to distinguish between the scientific and the socio-political component of the argument

  6. Situationally-sensitive knowledge translation and relational decision making in hyperacute stroke: a qualitative study.

    Directory of Open Access Journals (Sweden)

    Madeleine J Murtagh

    Full Text Available Stroke is a leading cause of disability. Early treatment of acute ischaemic stroke with rtPA reduces the risk of longer term dependency but carries an increased risk of causing immediate bleeding complications. To understand the challenges of knowledge translation and decision making about treatment with rtPA in hyperacute stroke and hence to inform development of appropriate decision support we interviewed patients, their family and health professionals. The emergency setting and the symptomatic effects of hyper-acute stroke shaped the form, content and manner of knowledge translation to support decision making. Decision making about rtPA in hyperacute stroke presented three conundrums for patients, family and clinicians. 1 How to allow time for reflection in a severely time-limited setting. 2 How to facilitate knowledge translation regarding important treatment risks and benefits when patient and family capacity is blunted by the effects and shock of stroke. 3 How to ensure patient and family views are taken into account when the situation produces reliance on the expertise of clinicians. Strategies adopted to meet these conundrums were fourfold: face to face communication; shaping decisions; incremental provision of information; and communication tailored to the individual patient. Relational forms of interaction were understood to engender trust and allay anxiety. Shaping decisions with patients was understood as an expression of confidence by clinicians that helped alleviate anxiety and offered hope and reassurance to patients and their family experiencing the shock of the stroke event. Neutral presentations of information and treatment options promoted uncertainty and contributed to anxiety. 'Drip feeding' information created moments for reflection: clinicians literally made time. Tailoring information to the particular patient and family situation allowed clinicians to account for social and emotional contexts. The principal responses to

  7. Situationally-sensitive knowledge translation and relational decision making in hyperacute stroke: a qualitative study.

    Science.gov (United States)

    Murtagh, Madeleine J; Burges Watson, Duika L; Jenkings, K Neil; Lie, Mabel L S; Mackintosh, Joan E; Ford, Gary A; Thomson, Richard G

    2012-01-01

    Stroke is a leading cause of disability. Early treatment of acute ischaemic stroke with rtPA reduces the risk of longer term dependency but carries an increased risk of causing immediate bleeding complications. To understand the challenges of knowledge translation and decision making about treatment with rtPA in hyperacute stroke and hence to inform development of appropriate decision support we interviewed patients, their family and health professionals. The emergency setting and the symptomatic effects of hyper-acute stroke shaped the form, content and manner of knowledge translation to support decision making. Decision making about rtPA in hyperacute stroke presented three conundrums for patients, family and clinicians. 1) How to allow time for reflection in a severely time-limited setting. 2) How to facilitate knowledge translation regarding important treatment risks and benefits when patient and family capacity is blunted by the effects and shock of stroke. 3) How to ensure patient and family views are taken into account when the situation produces reliance on the expertise of clinicians. Strategies adopted to meet these conundrums were fourfold: face to face communication; shaping decisions; incremental provision of information; and communication tailored to the individual patient. Relational forms of interaction were understood to engender trust and allay anxiety. Shaping decisions with patients was understood as an expression of confidence by clinicians that helped alleviate anxiety and offered hope and reassurance to patients and their family experiencing the shock of the stroke event. Neutral presentations of information and treatment options promoted uncertainty and contributed to anxiety. 'Drip feeding' information created moments for reflection: clinicians literally made time. Tailoring information to the particular patient and family situation allowed clinicians to account for social and emotional contexts. The principal responses to the challenges of

  8. Emotion regulation and risk taking: predicting risky choice in deliberative decision making.

    Science.gov (United States)

    Panno, Angelo; Lauriola, Marco; Figner, Bernd

    2013-01-01

    Only very recently has research demonstrated that experimentally induced emotion regulation strategies (cognitive reappraisal and expressive suppression) affect risky choice (e.g., Heilman et al., 2010). However, it is unknown whether this effect also operates via habitual use of emotion regulation strategies in risky choice involving deliberative decision making. We investigated the role of habitual use of emotion regulation strategies in risky choice using the "cold" deliberative version of the Columbia Card Task (CCT; Figner et al., 2009). Fifty-three participants completed the Emotion Regulation Questionnaire (ERQ; Gross & John, 2003) and--one month later--the CCT and the PANAS. Greater habitual cognitive reappraisal use was related to increased risk taking, accompanied by decreased sensitivity to changes in probability and loss amount. Greater habitual expressive suppression use was related to decreased risk taking. The results show that habitual use of reappraisal and suppression strategies predict risk taking when decisions involve predominantly cognitive-deliberative processes.

  9. Threat affects risk preferences in movement decision making

    Science.gov (United States)

    O'Brien, Megan K.; Ahmed, Alaa A.

    2015-01-01

    Emotional states such as sadness, anger, and threat have been shown to play a critical role in decision-making processes. Here we addressed the question of whether risk preferences are influenced by postural threat and whether this influence generalizes across motor tasks. We examined risk attitudes in the context of arm-reaching (ARM) and whole-body (WB) leaning movements, expecting that increased postural threat would lead to proportionally similar changes in risk-sensitivity for each motor task. Healthy young adults were shown a series of two-alternative forced-choice lotteries, where they were asked to choose between a riskier lottery and a safer lottery on each trial. Our lotteries consisted of different monetary rewards and target sizes. Subjects performed each choice task at ground level and atop an elevated platform. In the presence of this postural threat, increased physiological arousal was correlated with decreased movement variability. To determine risk-sensitivity, we quantified the frequency with which a subject chose the riskier lottery and fit lottery responses to a choice model based on cumulative prospect theory (CPT). Subjects exhibited idiosyncratic changes in risk-sensitivity between motor tasks and between elevations. However, we found that overweighting of small probabilities increased with postural threat in the WB task, indicating a more cautious, risk-averse strategy is ascribed to the possibility of a fall. Subjects were also more risk-seeking in the WB movements than in ARM at low elevation; this behavior does not seem to derive from consistent distortions in utility or probability representations but may be explained by subjects' inaccurate estimation of their own motor variability. Overall, our findings suggest that implicit threat can modify risk attitudes in the motor domain, and the threat may induce risk-aversion in salient movement tasks. PMID:26106311

  10. Threat affects risk preferences in movement decision making

    Directory of Open Access Journals (Sweden)

    Megan K. O'Brien

    2015-06-01

    Full Text Available Emotional states such as sadness, anger, and threat have been shown to play a critical role in decision-making processes. Here we addressed the question of whether risk preferences are influenced by postural threat and whether this influence generalizes across motor tasks. We examined risk attitudes in the context of arm-reaching and whole-body leaning movements, expecting that increased postural threat would lead to proportionally similar changes in risk-sensitivity for each motor task. Healthy young adults were shown a series of two-alternative forced-choice lotteries, where they were asked to choose between a riskier lottery and a safer lottery on each trial. Our lotteries consisted of different monetary rewards and target sizes. Subjects performed each choice task at ground level and atop an elevated platform. In the presence of this postural threat, increased physiological arousal was correlated with decreased movement variability. To determine risk-sensitivity, we quantified the frequency with which a subject chose the riskier lottery and fit lottery responses to a choice model based on cumulative prospect theory. Subjects exhibited idiosyncratic changes in risk-sensitivity between motor tasks and between elevations. However, we found that overweighting of small probabilities increased with postural threat in the whole-body task, indicating a more cautious, risk-averse strategy is ascribed to the possibility of a fall. Subjects were also more risk-seeking in the whole-body movements than in arm-reaching at low elevation; this behavior does not seem to derive from consistent distortions in utility or probability representations but may be explained by subjects’ inaccurate estimation of their own motor variability. Overall, our findings suggest that implicit threat can modify risk attitudes in the motor domain, and the threat may induce risk-aversion in salient movement tasks.

  11. Threat affects risk preferences in movement decision making.

    Science.gov (United States)

    O'Brien, Megan K; Ahmed, Alaa A

    2015-01-01

    Emotional states such as sadness, anger, and threat have been shown to play a critical role in decision-making processes. Here we addressed the question of whether risk preferences are influenced by postural threat and whether this influence generalizes across motor tasks. We examined risk attitudes in the context of arm-reaching (ARM) and whole-body (WB) leaning movements, expecting that increased postural threat would lead to proportionally similar changes in risk-sensitivity for each motor task. Healthy young adults were shown a series of two-alternative forced-choice lotteries, where they were asked to choose between a riskier lottery and a safer lottery on each trial. Our lotteries consisted of different monetary rewards and target sizes. Subjects performed each choice task at ground level and atop an elevated platform. In the presence of this postural threat, increased physiological arousal was correlated with decreased movement variability. To determine risk-sensitivity, we quantified the frequency with which a subject chose the riskier lottery and fit lottery responses to a choice model based on cumulative prospect theory (CPT). Subjects exhibited idiosyncratic changes in risk-sensitivity between motor tasks and between elevations. However, we found that overweighting of small probabilities increased with postural threat in the WB task, indicating a more cautious, risk-averse strategy is ascribed to the possibility of a fall. Subjects were also more risk-seeking in the WB movements than in ARM at low elevation; this behavior does not seem to derive from consistent distortions in utility or probability representations but may be explained by subjects' inaccurate estimation of their own motor variability. Overall, our findings suggest that implicit threat can modify risk attitudes in the motor domain, and the threat may induce risk-aversion in salient movement tasks.

  12. Development of a decision analytic model to support decision making and risk communication about thrombolytic treatment.

    Science.gov (United States)

    McMeekin, Peter; Flynn, Darren; Ford, Gary A; Rodgers, Helen; Gray, Jo; Thomson, Richard G

    2015-11-11

    Individualised prediction of outcomes can support clinical and shared decision making. This paper describes the building of such a model to predict outcomes with and without intravenous thrombolysis treatment following ischaemic stroke. A decision analytic model (DAM) was constructed to establish the likely balance of benefits and risks of treating acute ischaemic stroke with thrombolysis. Probability of independence, (modified Rankin score mRS ≤ 2), dependence (mRS 3 to 5) and death at three months post-stroke was based on a calibrated version of the Stroke-Thrombolytic Predictive Instrument using data from routinely treated stroke patients in the Safe Implementation of Treatments in Stroke (SITS-UK) registry. Predictions in untreated patients were validated using data from the Virtual International Stroke Trials Archive (VISTA). The probability of symptomatic intracerebral haemorrhage in treated patients was incorporated using a scoring model from Safe Implementation of Thrombolysis in Stroke-Monitoring Study (SITS-MOST) data. The model predicts probabilities of haemorrhage, death, independence and dependence at 3-months, with and without thrombolysis, as a function of 13 patient characteristics. Calibration (and inclusion of additional predictors) of the Stroke-Thrombolytic Predictive Instrument (S-TPI) addressed issues of under and over prediction. Validation with VISTA data confirmed that assumptions about treatment effect were just. The C-statistics for independence and death in treated patients in the DAM were 0.793 and 0.771 respectively, and 0.776 for independence in untreated patients from VISTA. We have produced a DAM that provides an estimation of the likely benefits and risks of thrombolysis for individual patients, which has subsequently been embedded in a computerised decision aid to support better decision-making and informed consent.

  13. Risk-based decision making and risk management of European Union regional programs

    Directory of Open Access Journals (Sweden)

    Michalopoulos Evangelos

    2008-01-01

    Full Text Available This paper presents a generalized method for management decision making incorporating risk assessment techniques. The risk based decision making methodology is applied to European Union expenditure programs used to implement its regional policy, such as the community support framework, community initiatives, special initiatives and other European policies. An example is presented for the development of an audit (inspection program in the region of West Macedonia, Greece, during the implementation of the 3rd Community Structural Support Framework Operational Program. The generic nature of the method permits its use in the management of similar European regional programs in Greece and other European countries. It is also applicable to many other industries interested in applying risk-based management decisions to physical or process based systems. .

  14. A decision framework for risk management, with application to the offshore oil and gas industry

    International Nuclear Information System (INIS)

    Aven, T.; Vinnem, J.E.; Wiencke, H.S.

    2007-01-01

    In this paper we present and discuss a decision framework for risk management. The framework comprises the basic elements: problem definition (challenges, goals and alternatives), stakeholders, concerns that affect the consequence analyses and the value judgments related to these consequences and analyses (frame conditions and constraints), identification of which consequence analyses to execute and the execution of these, managerial review and judgement, and the decision. The framework has novel aspects on the way of classifying the decision situations and characterising risks. The classification is based on the two dimensions, expected consequences, and uncertainties. Our starting point is the offshore oil and gas industry, but our framework and discussion is to a large extent general and could also be applied in other areas. An example is outlined to illustrate the use of the framework

  15. A Mental Value Perspective in Risk Decision Theory

    Directory of Open Access Journals (Sweden)

    Alexandru Trifu

    2006-09-01

    Full Text Available This work is based on Prospect theory, which was developed by D. Kahneman and A. Tversky in 1979. This is one the most quoted and best-documented point of view in economic psychology. First of all, it replaces, once again, the notion of utility with value. But value is defined in terms of gains and losses and this, according with an irrational human tendency to be less willing to gamble with profits than with losses. So, we discover the great importance of these assumptions in the field of risk decision-making, especially for firms’ activity in the marketplace.

  16. A Mental Value Perspective in Risk Decision Theory

    Directory of Open Access Journals (Sweden)

    Roxana Davidescu

    2006-07-01

    Full Text Available This work is based on Prospect theory, which was developed by D. Kahneman and A. Tversky in 1979. This is one the most quoted and best-documented point of view in economic psychology. First of all, it replaces, once again, the notion of utility with value. But value is defined in terms of gains and losses and this, according with an irrational human tendency to be less willing to gamble with profits than with losses. So, we discover the great importance of these assumptions in the field of risk decision-making, especially for firms’ activity in the marketplace.

  17. A Multidisciplinary Research Agenda for Understanding Vaccine-Related Decisions

    Science.gov (United States)

    Larson, Heidi; Leask, Julie; Aggett, Sian; Sevdalis, Nick; Thomson, Angus

    2013-01-01

    There is increasingly broad global recognition of the need to better understand determinants of vaccine acceptance. Fifteen social science, communication, health, and medical professionals (the “Motors of Trust in Vaccination” (MOTIV) think tank) explored factors relating to vaccination decision-making as a step to building a multidisciplinary research agenda. One hundred and forty seven factors impacting decisions made by consumers, professionals, and policy makers on vaccine acceptance, delay, or refusal were identified and grouped into three major categories: cognition and decision-making; groups and social norms; and communication and engagement. These factors should help frame a multidisciplinary research agenda to build an evidence base on the determinants of vaccine acceptance to inform the development of interventions and vaccination policies. PMID:26344114

  18. A Multidisciplinary Research Agenda for Understanding Vaccine-Related Decisions

    Directory of Open Access Journals (Sweden)

    Nick Sevdalis

    2013-07-01

    Full Text Available There is increasingly broad global recognition of the need to better understand determinants of vaccine acceptance. Fifteen social science, communication, health, and medical professionals (the “Motors of Trust in Vaccination” (MOTIV think tank explored factors relating to vaccination decision-making as a step to building a multidisciplinary research agenda. One hundred and forty seven factors impacting decisions made by consumers, professionals, and policy makers on vaccine acceptance, delay, or refusal were identified and grouped into three major categories: cognition and decision-making; groups and social norms; and communication and engagement. These factors should help frame a multidisciplinary research agenda to build an evidence base on the determinants of vaccine acceptance to inform the development of interventions and vaccination policies.

  19. Know the risk, take the win: how executive functions and probability processing influence advantageous decision making under risk conditions.

    Science.gov (United States)

    Brand, Matthias; Schiebener, Johannes; Pertl, Marie-Theres; Delazer, Margarete

    2014-01-01

    Recent models on decision making under risk conditions have suggested that numerical abilities are important ingredients of advantageous decision-making performance, but empirical evidence is still limited. The results of our first study show that logical reasoning and basic mental calculation capacities predict ratio processing and that ratio processing predicts decision making under risk. In the second study, logical reasoning together with executive functions predicted probability processing (numeracy and probability knowledge), and probability processing predicted decision making under risk. These findings suggest that increasing an individual's understanding of ratios and probabilities should lead to more advantageous decisions under risk conditions.

  20. Risk perceptions and smoking decisions of adult Chinese men.

    Science.gov (United States)

    Lin, Wanchuan; Sloan, Frank

    2015-01-01

    This study analyzes effects of changes in risk perceptions of smoking's health harms on actual and attempted quits and quitting intentions of male smokers in China. Our survey of 5000+ male smokers was conducted two years after their neighbor's lung cancer diagnosis. We use proximity to a lung cancer neighbor as an exogenous determinant of individual's smoking risk perception. We show that learning of a neighbor's lung cancer diagnosis substantially affects smokers' subjective beliefs about smoking's harms, which in turn affects decisions about continued smoking and intentions to quit. Our study findings offer important public policy implications in indicating the importance of designing health-warning messages that fit smokers' personal circumstances as opposed to warnings solely based on edicts from scientific experts and/or epidemiological evidence. Copyright © 2014 Elsevier B.V. All rights reserved.

  1. Stochastic Watershed Models for Risk Based Decision Making

    Science.gov (United States)

    Vogel, R. M.

    2017-12-01

    Over half a century ago, the Harvard Water Program introduced the field of operational or synthetic hydrology providing stochastic streamflow models (SSMs), which could generate ensembles of synthetic streamflow traces useful for hydrologic risk management. The application of SSMs, based on streamflow observations alone, revolutionized water resources planning activities, yet has fallen out of favor due, in part, to their inability to account for the now nearly ubiquitous anthropogenic influences on streamflow. This commentary advances the modern equivalent of SSMs, termed `stochastic watershed models' (SWMs) useful as input to nearly all modern risk based water resource decision making approaches. SWMs are deterministic watershed models implemented using stochastic meteorological series, model parameters and model errors, to generate ensembles of streamflow traces that represent the variability in possible future streamflows. SWMs combine deterministic watershed models, which are ideally suited to accounting for anthropogenic influences, with recent developments in uncertainty analysis and principles of stochastic simulation

  2. Cognitive abilities and superior decision making under risk

    Directory of Open Access Journals (Sweden)

    Edward T. Cokely

    2009-02-01

    Full Text Available Individual differences in cognitive abilities and skills can predict normatively superior and logically consistent judgments and decisions. The current experiment investigates the processes that mediate individual differences in risky choices. We assessed working memory span, numeracy, and cognitive impulsivity and conducted a protocol analysis to trace variations in conscious deliberative processes. People higher in cognitive abilities made more choices consistent with expected values; however, expected-value choices rarely resulted from expected-value calculations. Instead, the cognitive ability and choice relationship was mediated by the number of simple considerations made during decision making --- e.g., transforming probabilities and considering the relative size of gains. Results imply that, even in simple lotteries, superior risky decisions associated with cognitive abilities and controlled cognition can reflect metacognitive dynamics and elaborative heuristic search processes, rather than normative calculations. Modes of cognitive control (e.g., dual process dynamics and implications for process models of risky decision-making (e.g., priority heuristic are discussed.

  3. A model of pathways to artificial superintelligence catastrophe for risk and decision analysis

    Science.gov (United States)

    Barrett, Anthony M.; Baum, Seth D.

    2017-03-01

    An artificial superintelligence (ASI) is an artificial intelligence that is significantly more intelligent than humans in all respects. Whilst ASI does not currently exist, some scholars propose that it could be created sometime in the future, and furthermore that its creation could cause a severe global catastrophe, possibly even resulting in human extinction. Given the high stakes, it is important to analyze ASI risk and factor the risk into decisions related to ASI research and development. This paper presents a graphical model of major pathways to ASI catastrophe, focusing on ASI created via recursive self-improvement. The model uses the established risk and decision analysis modelling paradigms of fault trees and influence diagrams in order to depict combinations of events and conditions that could lead to AI catastrophe, as well as intervention options that could decrease risks. The events and conditions include select aspects of the ASI itself as well as the human process of ASI research, development and management. Model structure is derived from published literature on ASI risk. The model offers a foundation for rigorous quantitative evaluation and decision-making on the long-term risk of ASI catastrophe.

  4. Logic and Risk as Qualitative and Quantitative Dimensions of Decision-Making Process

    Directory of Open Access Journals (Sweden)

    Tadeusz Galanc

    2016-01-01

    Full Text Available Key problems in the field of decision-making have been considered. The authors' aim was to indicate the extremely important for management role of logic and risk in relation to decisions taken under conditions of uncertainty. In the course of the research, the following hypothesis was tested: the complexity of risk is determined by the diversity of reality. The result of this is that in science there is no current study developing a uniform methodology for the assessment of risk. It might even be doubtful whether it can be created. In a certain sense, this is indicated in the article by the discussion about the dimensions of logic and risk apparent in any decisions taken by a man. The paper presents the complexity and diversity of risk assessment on the basis of selected, but essential to the discussed issue, fields of knowledge. This is valid when the numerical or qualitative level of risk is substantial in the context of the analyzed problem. (original abstract

  5. Uncertainty and sensitivity analysis of flood risk management decisions based on stationary and nonstationary model choices

    Directory of Open Access Journals (Sweden)

    Rehan Balqis M.

    2016-01-01

    Full Text Available Current practice in flood frequency analysis assumes that the stochastic properties of extreme floods follow that of stationary conditions. As human intervention and anthropogenic climate change influences in hydrometeorological variables are becoming evident in some places, there have been suggestions that nonstationary statistics would be better to represent the stochastic properties of the extreme floods. The probabilistic estimation of non-stationary models, however, is surrounded with uncertainty related to scarcity of observations and modelling complexities hence the difficulty to project the future condition. In the face of uncertain future and the subjectivity of model choices, this study attempts to demonstrate the practical implications of applying a nonstationary model and compares it with a stationary model in flood risk assessment. A fully integrated framework to simulate decision makers’ behaviour in flood frequency analysis is thereby developed. The framework is applied to hypothetical flood risk management decisions and the outcomes are compared with those of known underlying future conditions. Uncertainty of the economic performance of the risk-based decisions is assessed through Monte Carlo simulations. Sensitivity of the results is also tested by varying the possible magnitude of future changes. The application provides quantitative and qualitative comparative results that satisfy a preliminary analysis of whether the nonstationary model complexity should be applied to improve the economic performance of decisions. Results obtained from the case study shows that the relative differences of competing models for all considered possible future changes are small, suggesting that stationary assumptions are preferred to a shift to nonstationary statistics for practical application of flood risk management. Nevertheless, nonstationary assumption should also be considered during a planning stage in addition to stationary assumption

  6. Risk and Rationality in Adolescent Decision Making: Implications for Theory, Practice, and Public Policy.

    Science.gov (United States)

    Reyna, Valerie F; Farley, Frank

    2006-09-01

    . Interventions to reduce risk taking must take into account the different causes of such behavior if they are to be effective. Longitudinal and experimental research are needed to disentangle opposing causal processes-particularly, those that produce positive versus negative relations between risk perceptions and behaviors. Counterintuitive findings that must be accommodated by any adequate theory of risk taking include the following: (a) Despite conventional wisdom, adolescents do not perceive themselves to be invulnerable, and perceived vulnerability declines with increasing age; (b) although the object of many interventions is to enhance the accuracy of risk perceptions, adolescents typically overestimate important risks, such as HIV and lung cancer; (c) despite increasing competence in reasoning, some biases in judgment and decision making grow with age, producing more "irrational" violations of coherence among adults than among adolescents and younger children. The latter occurs because of a known developmental increase in gist processing with age. One implication of these findings is that traditional interventions stressing accurate risk perceptions are apt to be ineffective or backfire because young people already feel vulnerable and overestimate their risk. In addition, research shows that experience is not a good teacher for children and younger adolescents, because they tend to learn little from negative outcomes (favoring the use of effective deterrents, such as monitoring and supervision), although learning from experience improves considerably with age. Experience in the absence of negative consequences may increase feelings of invulnerability and thus explain the decrease in risk perceptions from early to late adolescence, as exploration increases. Finally, novel interventions that discourage deliberate weighing of risks and benefits by adolescents may ultimately prove more effective and enduring. Mature adults apparently resist taking risks not out of any

  7. Environmental risk assessment of chemicals and nanomaterials--The best foundation for regulatory decision-making?

    Science.gov (United States)

    Syberg, Kristian; Hansen, Steffen Foss

    2016-01-15

    Environmental risk assessment (ERA) is often considered as the most transparent, objective and reliable decision-making tool for informing the risk management of chemicals and nanomaterials. ERAs are based on the assumption that it is possible to provide accurate estimates of hazard and exposure and, subsequently, to quantify risk. In this paper we argue that since the quantification of risk is dominated by uncertainties, ERAs do not provide a transparent or an objective foundation for decision-making and they should therefore not be considered as a "holy grail" for informing risk management. We build this thesis on the analysis of two case studies (of nonylphenol and nanomaterials) as well as a historical analysis in which we address the scientific foundation for ERAs. The analyses show that ERAs do not properly address all aspects of actual risk, such as the mixture effect and the environmentally realistic risk from nanomaterials. Uncertainties have been recognised for decades, and assessment factors are used to compensate for the lack of realism in ERAs. The assessment factors' values were pragmatically determined, thus lowering the scientific accuracy of the ERAs. Furthermore, the default choice of standard assay for assessing a hazard might not always be the most biologically relevant, so we therefore argue that an ERA should be viewed as a pragmatic decision-making tool among several, and it should not have a special status for informing risk management. In relation to other relevant decision-making tools we discuss the use of chemical alternative assessments (CAAs) and the precautionary principle. Copyright © 2015 Elsevier B.V. All rights reserved.

  8. On the perceived usefulness of risk descriptions for decision-making in disaster risk management

    International Nuclear Information System (INIS)

    Lin, Lexin; Nilsson, Anders; Sjölin, Johan; Abrahamsson, Marcus; Tehler, Henrik

    2015-01-01

    Managing risk using an “all-hazards” and “whole of society”-approach involves extensive communication of risk descriptions among many stakeholders. In the present study we investigate how professionals working with disaster risk management in such contexts perceive the usefulness of different descriptions of risk. Empirical data from the Swedish disaster risk management system were used in an attempt to investigate the aspects of a risk description that affect its usefulness (as perceived by professionals). Thirty-three local municipal risk and vulnerability assessments (RVA documents) produced in the region of Scania in 2012 were analyzed in terms of six variables. The documents were then ranked by professionals based on their perceived usefulness for decision-making. Statistical analysis was conducted to identify any possible correlations between the overall ranking of the usefulness of the municipal RVA:s and each of the variables. We conclude that the way the likelihood and consequences of scenarios are described influence the perceived usefulness of a risk description. Furthermore, whether descriptions of scenarios are included in a risk description or not, and whether background information concerning the likelihood of scenarios are included also influence perceived usefulness of risk descriptions. - Highlights: • Written communication of risk between professionals is investigated. • The way likelihood is described influences a risk description's usefulness. • The way consequences are described influence a risk description's usefulness. • Whether background information is included in a risk description influences its usefulness

  9. Linking brain electrical signals elicited by current outcomes with future risk decision-making

    Directory of Open Access Journals (Sweden)

    Dandan eZhang

    2014-03-01

    Full Text Available The experience of current outcomes influences future decisions in various ways. The neural mechanism of this phenomenon may help to clarify the determinants of decision-making. In this study, thirty-nine young adults finished a risky gambling task by choosing between a high- and a low-risk option in each trial during electroencephalographic data collection. We found that risk-taking strategies significantly modulated mean amplitudes of the event-related potential (ERP component P3, particularly at the central scalp. The event-related spectral perturbation and the inter-trial coherence measurements of the independent component analysis (ICA data indicated that the stay vs. switch electrophysiological difference associated with subsequent decision-making was mainly due to fronto-central theta and left/right mu independent components. Event-related cross-coherence results suggested that the neural information of action monitoring and updating emerged in the fronto-central cortex and propagated to sensorimotor area for further behavior adjustment. Based on these findings of ERP and event-related oscillation (ERO measures, we proposed a neural model of the influence of current outcomes on future decisions.

  10. A FTA-based method for risk decision-making in emergency response

    DEFF Research Database (Denmark)

    Liu, Yang; Li, Hongyan

    2014-01-01

    Decision-making problems in emergency response are usually risky and uncertain due to the limited decision data and possible evolvement of emergency scenarios. This paper focuses on a risk decisionmaking problem in emergency response with several distinct characteristics including dynamic...... evolvement process of emergency, multiple scenarios, and impact of response actions on the emergency scenarios. A method based on Fault Tree Analysis (FTA) is proposed to solve the problem. By analyzing the evolvement process of emergency, the Fault Tree (FT) is constructed to describe the logical relations...

  11. Reactivation of Reward-Related Patterns from Single Past Episodes Supports Memory-Based Decision Making.

    Science.gov (United States)

    Wimmer, G Elliott; Büchel, Christian

    2016-03-09

    Rewarding experiences exert a strong influence on later decision making. While decades of neuroscience research have shown how reinforcement gradually shapes preferences, decisions are often influenced by single past experiences. Surprisingly, relatively little is known about the influence of single learning episodes. Although recent work has proposed a role for episodes in decision making, it is largely unknown whether and how episodic experiences contribute to value-based decision making and how the values of single episodes are represented in the brain. In multiple behavioral experiments and an fMRI experiment, we tested whether and how rewarding episodes could support later decision making. Participants experienced episodes of high reward or low reward in conjunction with incidental, trial-unique neutral pictures. In a surprise test phase, we found that participants could indeed remember the associated level of reward, as evidenced by accurate source memory for value and preferences to re-engage with rewarded objects. Further, in a separate experiment, we found that high-reward objects shown as primes before a gambling task increased financial risk taking. Neurally, re-exposure to objects in the test phase led to significant reactivation of reward-related patterns. Importantly, individual variability in the strength of reactivation predicted value memory performance. Our results provide a novel demonstration that affect-related neural patterns are reactivated during later experience. Reactivation of value information represents a mechanism by which memory can guide decision making. Copyright © 2016 the authors 0270-6474/16/362868-13$15.00/0.

  12. A decision analysis approach for risk management of near-earth objects

    Science.gov (United States)

    Lee, Robert C.; Jones, Thomas D.; Chapman, Clark R.

    2014-10-01

    order to examine the impact of uncertainties. Finally, the need for further analysis, data collection, or refinement is determined. The first steps of defining the problem and the objectives are critical to constructing an informative decision analysis. Such steps must be undertaken with participation from experts, decision-makers, and stakeholders (defined here as "decision participants"). The basic problem here can be framed as: “What is the best strategy to manage risk associated with NEOs?” Some high-level objectives might be to minimize: mortality and injuries, damage to critical infrastructure (e.g., power, communications and food distribution), ecosystem damage, property damage, ungrounded media and public speculation, resources expended, and overall cost. Another valuable objective would be to maximize inter-agency/government coordination. Some of these objectives (e.g., “minimize mortality”) are readily quantified (e.g., deaths and injuries averted). Others are less so (e.g., “maximize inter-agency/government coordination”), but these can be scaled. Objectives may be inversely related: e.g., a strategy that minimizes mortality may cost more. They are also unlikely to be weighted equally. Defining objectives and assessing their relative weight and interactions requires early engagement with decision participants. High-level decisions include whether to deflect a NEO, when to deflect, what is the best alternative for deflection/destruction, and disaster management strategies if an impact occurs. Important influences include, for example: NEO characteristics (orbital characteristics, diameter, mass, spin and composition), impact probability and location, interval between discovery and projected impact date, interval between discovery and deflection target date, costs of information collection, costs and technological feasibility of deflection alternatives, risks of deflection campaigns, requirements for inter-agency and international cooperation, and

  13. Social and behavioral research on risk: uses in risk management decision-making

    International Nuclear Information System (INIS)

    Covello, V.T.

    1984-01-01

    The overall objective of this paper is to describe the principal uses of social and behavioral research in risk management decision-making. Five such uses are identified and discussed, including uses in (1) identifying the nature and extent of public concern; (2) structuring public debate and resolving conflicts; (3) anticipating public responses to new technologies; (4) conducting and informing the public; and (5) designing and implementing risk management policies and systems. (author)

  14. Effects of selective serotonin reuptake inhibition on neural activity related to risky decisions and monetary rewards in healthy males

    DEFF Research Database (Denmark)

    Macoveanu, Julian; Fisher, Patrick M; Haahr, Mette E

    2014-01-01

    the involvement of the normally functioning 5HT-system in decision-making under risk and processing of monetary rewards. The data suggest that prolonged SSRI treatment might reduce emotional engagement by reducing the impact of risk during decision-making or the impact of reward during outcome evaluation....... to placebo, the SSRI intervention did not alter individual risk-choice preferences, but modified neural activity during decision-making and reward processing: During the choice phase, SSRI reduced the neural response to increasing risk in lateral orbitofrontal cortex, a key structure for value-based decision-making...... functional MRI (fMRI) to investigate how a three-week fluoxetine intervention influences neural activity related to risk taking and reward processing. Employing a double-blinded parallel-group design, 29 healthy young males were randomly assigned to receive 3 weeks of a daily dose of 40 mg fluoxetine...

  15. The Hidden Risk Decisions in Waste Repository Regulation

    International Nuclear Information System (INIS)

    Frishman, Steve

    2001-01-01

    The move toward risk-informed, performance-based regulation of activities involving radioactive materials is becoming wide spread and broadly applied. While this approach may have some merit in specific applications in which there is a considerable body of experience, its strict application in regulation of geologic repositories for highly radioactive wastes may not be appropriate for this unproven and socially controversial technology. The U.S. Nuclear Regulatory Commission describes risk-informed, performance-based regulation as 'an approach in which risk insights, engineering analysis and judgement (eg. defense in depth), and performance history are used to (1) focus attention on the most important activities, (2) establish objective criteria based upon risk insights for evaluating performance, (3) develop measurable or calculable parameters for monitoring system and licensee performance, and (4) focus on the results as the primary basis for regulatory decision-making.' Both the risk-informed and performance-based elements of the approach are problematic when considering regulation of geologic repositories for highly radioactive wastes - an activity yet to be accomplished by any nation. In investigating potential sites for geologic repositories there will always be residual uncertainty in understanding the natural system and the events and processes that affect it. The more complex the natural system, the greater will be the uncertainty in both the data and the models used to describe the characteristics of the site's natural barriers, and the events and processes that could affect repository waste isolation. The engineered barriers also are subject to uncertainties that are important to the repository system. These uncertainties translate themselves into a range of probabilities that certain events or processes, detrimental to waste isolation, will occur. The uncertainties also translate to a range of consequences and magnitudes of consequences, should the

  16. The Role of Medical Expenditure Risk in Portfolio Allocation Decisions.

    Science.gov (United States)

    Ayyagari, Padmaja; He, Daifeng

    2017-11-01

    Economic theory suggests that medical spending risk affects the extent to which households are willing to accept financial risk, and consequently their investment portfolios. In this study, we focus on the elderly for whom medical spending represents a substantial risk. We exploit the exogenous reduction in prescription drug spending risk because of the introduction of Medicare Part D in the U.S. in 2006 to identify the causal effect of medical spending risk on portfolio choice. Consistent with theory, we find that Medicare-eligible persons increased risky investment after the introduction of prescription drug coverage, relative to a younger, ineligible cohort. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

  17. Patient-Focused Benefit-Risk Analysis to Inform Regulatory Decisions: The European Union Perspective.

    Science.gov (United States)

    Mühlbacher, Axel C; Juhnke, Christin; Beyer, Andrea R; Garner, Sarah

    Regulatory decisions are often based on multiple clinical end points, but the perspectives used to judge the relative importance of those end points are predominantly those of expert decision makers rather than of the patient. However, there is a growing awareness that active patient and public participation can improve decision making, increase acceptance of decisions, and improve adherence to treatments. The assessment of risk versus benefit requires not only information on clinical outcomes but also value judgments about which outcomes are important and whether the potential benefits outweigh the harms. There are a number of mechanisms for capturing the input of patients, and regulatory bodies within the European Union are participating in several initiatives. These can include patients directly participating in the regulatory decision-making process or using information derived from patients in empirical studies as part of the evidence considered. One promising method that is being explored is the elicitation of "patient preferences." Preferences, in this context, refer to the individual's evaluation of health outcomes and can be understood as statements regarding the relative desirability of a range of treatment options, treatment characteristics, and health states. Several methods for preference measurement have been proposed, and pilot studies have been undertaken to use patient preference information in regulatory decision making. This article describes how preferences are currently being considered in the benefit-risk assessment context, and shows how different methods of preference elicitation are used to support decision making within the European context. Copyright © 2016 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  18. Translational Models of Gambling-Related Decision-Making.

    Science.gov (United States)

    Winstanley, Catharine A; Clark, Luke

    Gambling is a harmless, recreational pastime that is ubiquitous across cultures. However, for some, gambling becomes a maladaptive and compulsive, and this syndrome is conceptualized as a behavioural addiction. Laboratory models that capture the key cognitive processes involved in gambling behaviour, and that can be translated across species, have the potential to make an important contribution to both decision neuroscience and the study of addictive disorders. The Iowa gambling task has been widely used to assess human decision-making under uncertainty, and this paradigm can be successfully modelled in rodents. Similar neurobiological processes underpin choice behaviour in humans and rats, and thus, a preference for the disadvantageous "high-risk, high-reward" options may reflect meaningful vulnerability for mental health problems. However, the choice behaviour operationalized by these tasks does not necessarily approximate the vulnerability to gambling disorder (GD) per se. We consider a number of psychological challenges that apply to modelling gambling in a translational way, and evaluate the success of the existing models. Heterogeneity in the structure of gambling games, as well as in the motivations of individuals with GD, is highlighted. The potential issues with extrapolating too directly from established animal models of drug dependency are discussed, as are the inherent difficulties in validating animal models of GD in the absence of any approved treatments for GD. Further advances in modelling the cognitive biases endemic in human decision-making, which appear to be exacerbated in GD, may be a promising line of research.

  19. Lifetime risks of kidney donation: a medical decision analysis.

    Science.gov (United States)

    Kiberd, Bryce A; Tennankore, Karthik K

    2017-09-01

    This study estimated the potential loss of life and the lifetime cumulative risk of end-stage renal disease (ESRD) from live kidney donation. Markov medical decision analysis. USA. 40-year-old live kidney donors of both sexes and black/white race. Live donor nephrectomy. Potential remaining life years lost, quality-adjusted life years (QALYs) lost and added lifetime cumulative risk of ESRD from donation. Overall 0.532-0.884 remaining life years were lost from donating a kidney. This was equivalent to 1.20%-2.34% of remaining life years (or 0.76%-1.51% remaining QALYs). The risk was higher in male and black individuals. The study showed that 1%-5% of average-age current live kidney donors might develop ESRD as a result of nephrectomy. The added risk of ESRD resulted in a loss of only 0.126-0.344 remaining life years. Most of the loss of life was predicted to be associated with chronic kidney disease (CKD) not ESRD. Most events occurred 25 or more years after donation. Reducing the increased risk of death associated with CKD had a modest overall effect on the per cent loss of remaining life years (0.72%-1.9%) and QALYs (0.58%-1.33%). Smoking and obesity reduced life expectancy and increased overall lifetime risks of ESRD in non-donors. However the percentage loss of remaining life years from donation was not very different in those with or without these risk factors. Live kidney donation may reduce life expectancy by 0.5-1 year in most donors. The development of ESRD in donors may not be the only measure of risk as most of the predicted loss of life predates ESRD. The study identifies the potential importance of following donors and treating risk factors aggressively to prevent ESRD and to improve donor survival. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2017. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

  20. Handling risk attitudes for preference learning and intelligent decision support

    DEFF Research Database (Denmark)

    Franco de los Ríos, Camilo; Hougaard, Jens Leth; Nielsen, Kurt

    2015-01-01

    Intelligent decision support should allow integrating human knowledge with efficient algorithms for making interpretable and useful recommendations on real world decision problems. Attitudes and preferences articulate and come together under a decision process that should be explicitly modeled...

  1. Executive function, approach sensitivity, and emotional decision making as influences on risk behaviors in young adults.

    Science.gov (United States)

    Patrick, Megan E; Blair, Clancy; Maggs, Jennifer L

    2008-05-01

    Relations among executive function, behavioral approach sensitivity, emotional decision making, and risk behaviors (alcohol use, drug use, and delinquent behavior) were examined in single female college students (N = 72). Hierarchical multiple regressions indicated a significant Approach Sensitivity x Working Memory interaction in which higher levels of alcohol use were associated with the combination of greater approach tendency and better working memory. This Approach Sensitivity x Working Memory interaction was also marginally significant for drug use and delinquency. Poor emotional decision making, as measured by a gambling task, was also associated with higher levels of alcohol use, but only for individuals low in inhibitory control. Findings point to the complexity of relations among aspects of self-regulation and personality and provide much needed data on neuropsychological correlates of risk behaviors in a nonclinical population.

  2. Modulation of risk/reward decision making by dopaminergic transmission within the basolateral amygdala.

    Science.gov (United States)

    Larkin, Joshua D; Jenni, Nicole L; Floresco, Stan B

    2016-01-01

    Dopamine (DA) transmission within cortico-limbic-striatal circuitry is integral in modulating decisions involving reward uncertainty. The basolateral amygdala (BLA) also plays a role in these processes, yet how DA transmission within this nucleus regulates cost/benefit decision making is unknown. We investigated the contribution of DA transmission within the BLA to risk/reward decision making assessed with a probabilistic discounting task. Rats were well-trained to choose between a small/certain reward and a large/risky reward, with the probability of obtaining the larger reward decreasing (100-12.5 %) or increasing (12.5-100 %) over a session. We examined the effects of antagonizing BLA D1 (SCH 23390, 0.1-1 μg) or D2 (eticlopride, 0.1-1 μg) receptors, as well as intra-BLA infusions of agonists for D1 (SKF 81297, 0.1-1 μg) and D2 (quinpirole, 1-10 μg) receptors. We also assessed how DA receptor stimulation may induce differential effects related to baseline levels of risky choice. BLA D1 receptor antagonism reduced risky choice by decreasing reward sensitivity, whereas D2 antagonism did not affect overall choice patterns. Stimulation of BLA D1 receptors optimized decision making in a baseline-dependent manner: in risk-averse rats, infusions of a lower dose of SKF81297 increased risky choice when reward probabilities were high (50 %), whereas in risk-prone rats, this drug reduced risky choice when probabilities were low (12.5 %). Quinpirole reduced risky choice in risk-prone rats, enhancing lose-shift behavior. These data highlight previously uncharacterized roles for BLA DA D1 and D2 receptors in biasing choice during risk/reward decision making through mediation of reward/negative feedback sensitivity.

  3. A risk-based decision-aiding tool for waste disposal

    International Nuclear Information System (INIS)

    Weiner, R.F.; Reiser, A.S.; Elcock, C.G.; Nevins, S.

    1997-01-01

    N-CART (the National Spent Nuclear Fuel Program Cost Analysis and Risk Tool) is being developed to aid in low-risk, cost-effective, timely management of radioactive waste and spent nuclear fuel, and can therefore be used in management of mixed waste. N-CART provides evaluation of multiple alternatives and presents the consequences of proposed waste management activities in a clear and concise format. N-CART's decision-aiding analyses include comparisons and sensitivity analyses of multiple alternatives and allows the user to perform quick turn-around open-quotes what ifclose quotes studies to investigate various scenarios. Uncertainties in data (such as cost and schedule of various activities) are represented as distributions. N-CART centralizes documentation of the bases of program alternatives and program decisions, thereby supporting responses to stakeholders concerns. The initial N-CART design considers regulatory requirements, costs, and schedules for alternative courses of action. The final design will include risks (public health, occupational, economic, scheduling), economic benefits, and the impacts of secondary waste generation. An optimization tool is being incorporated that allows the user to specify the relative importance of cost, time risks, and other bases for decisions. The N-CART prototype can be used to compare the costs and schedules of disposal alternatives for mixed low-level radioactive waste (MLLW) and greater-than-Class-C (GTCC) waste, as well as spent nuclear fuel (SNF) and related scrap material

  4. Effects of stochastic interest rates in decision making under risk: A Markov decision process model for forest management

    Science.gov (United States)

    Mo Zhou; Joseph Buongiorno

    2011-01-01

    Most economic studies of forest decision making under risk assume a fixed interest rate. This paper investigated some implications of this stochastic nature of interest rates. Markov decision process (MDP) models, used previously to integrate stochastic stand growth and prices, can be extended to include variable interest rates as well. This method was applied to...

  5. A Relational Approach to the Acquisition Decision-Making Process in the Military Organization

    Directory of Open Access Journals (Sweden)

    Gheorghe Minculete

    2016-06-01

    Full Text Available The market relations of military organizations focus on the acquisition of material goods and/or services. Nonetheless, the importance of the decisions related to the supply process is sometimes minimized. This attitude is so harmful for the effi cacy and effi ciency of the activities conducted by the military structure that at times it can have a negative impact on the management staff too. Problems may occur because the acquisition process must unfold performance-oriented; its main objective is the purchasing of material goods and/or services meant to ensure the smooth operation of the activities of the military organization. In case this cannot be achieved, it is highly probable that the mission of the organization itself is compromised. The present article explores the constitutive elements of the acquisition decision-making situation, certainty, uncertainty and risk connected to the purchasing mechanism, as well as the stages of the acquisition decision-making process

  6. Decision making under risk : a study of models and measurement procedures with special reference to the farmer's marketing behavior

    NARCIS (Netherlands)

    Smidts, A.

    1990-01-01

    The objectives of the study were: a) to review, discuss and test a number of theories on individual decision making under risk; much attention is specifically given to the definition and empirical testing of the concept of relative risk attitude, b) to investigate in a large scale survey

  7. Decision making under risk. A study of models and measurement procedures with special reference to the farmers' marketing behavior

    NARCIS (Netherlands)

    A. Smidts (Ale)

    1990-01-01

    textabstractThe objectives of the study were: a) to review, discuss and test a number of theories on individual decision making under risk; much attention is specifically given to the definition and empirical testing of the concept of relative risk attitude, b) to investigate in a large scale survey

  8. Climate Risk Informed Decision Analysis (CRIDA): A novel practical guidance for Climate Resilient Investments and Planning

    Science.gov (United States)

    Jeuken, Ad; Mendoza, Guillermo; Matthews, John; Ray, Patrick; Haasnoot, Marjolijn; Gilroy, Kristin; Olsen, Rolf; Kucharski, John; Stakhiv, Gene; Cushing, Janet; Brown, Casey

    2016-04-01

    Engineers and water managers have always incorporated uncertainty in water resources operations, design and planning. In recent years, concern has been growing concern that many of the fundamental principles to address uncertainty in planning and design are insufficient for coping with unprecedented shifts in climate, especially given the long lifetimes of water investments - spanning decades, even centuries. Can we design and operate new flood risk management, energy, water supply and sanitation, and agricultural projects that are robust to shifts over 20, 50, or more years? Since about 2009, better approaches to planning and designing under climate uncertainty have been gaining ground worldwide. The main challenge is to operationalize these approaches and bring them from science to practice, embed them within the existing decision-making processes of particular institutions, and shift from highly specialized "boutique" applications to methods that result in consistent, replicable outcomes accessible to water managers worldwide. With CRIDA a serious step is taken to achieve these goals. CRIDA is built on two innovative but complementary approaches that have developed in isolation across the Atlantic over the past seven years: diagnosing and assessing risk (decision scaling), and developing sequential decision steps to compensate for uncertainty within regulatory / performance standards (adaptation pathways). First, the decision scaling or "bottom up" framework to climate change adaptation was first conceptualized during the US/Canada Great Lakes regulation study and has recently been placed in a decision-making context for water-related investments published by the World Bank Second, the adaptation pathways approach was developed in the Netherlands to cope with the level of climate uncertainty we now face. Adaptation pathways is a tool for maintaining options and flexibility while meeting operational goals by envisioning how sequences of decisions can be navigated

  9. Decisions for Others Are Less Risk-Averse in the Gain Frame and Less Risk-Seeking in the Loss Frame Than Decisions for the Self

    Science.gov (United States)

    Zhang, Xiangyi; Liu, Yi; Chen, Xiyou; Shang, Xuesong; Liu, Yongfang

    2017-01-01

    Despite the fact that people make decisions for others as often as they make decisions for themselves, little is known about how decisions for others are different from those made for the self. In two experiments, we investigated the effect of social distance (i.e., making decisions for oneself, a friend, or a stranger) on risk preferences in both gain and loss situations. We found that people were more risk averse in gain situations when they made decisions for themselves than for a stranger (Studies 1 and 2), but were equally risk averse for themselves and their friends (Study 2). However, people were more risk seeking in loss situations when they made decisions for themselves than for their friends as well as for a stranger, and were more risk seeking for their friends than for a stranger (Study 2). Furthermore, the effect of social distance on risk preferences was stronger in loss than in gain situations. Mediation analysis indicated that outcome-induced loss aversion was responsible for effects of social distance on risk preferences. These findings demonstrate that social distance influences risk preferences via perceived loss aversion, which sheds new light on self-other differences in decision making. PMID:28966604

  10. Decisions for Others Are Less Risk-Averse in the Gain Frame and Less Risk-Seeking in the Loss Frame Than Decisions for the Self.

    Science.gov (United States)

    Zhang, Xiangyi; Liu, Yi; Chen, Xiyou; Shang, Xuesong; Liu, Yongfang

    2017-01-01

    Despite the fact that people make decisions for others as often as they make decisions for themselves, little is known about how decisions for others are different from those made for the self. In two experiments, we investigated the effect of social distance (i.e., making decisions for oneself, a friend, or a stranger) on risk preferences in both gain and loss situations. We found that people were more risk averse in gain situations when they made decisions for themselves than for a stranger (Studies 1 and 2), but were equally risk averse for themselves and their friends (Study 2). However, people were more risk seeking in loss situations when they made decisions for themselves than for their friends as well as for a stranger, and were more risk seeking for their friends than for a stranger (Study 2). Furthermore, the effect of social distance on risk preferences was stronger in loss than in gain situations. Mediation analysis indicated that outcome-induced loss aversion was responsible for effects of social distance on risk preferences. These findings demonstrate that social distance influences risk preferences via perceived loss aversion, which sheds new light on self-other differences in decision making.

  11. Risk Decision Making Based on Decision-theoretic Rough Set: A Three-way View Decision Model

    OpenAIRE

    Huaxiong Li; Xianzhong Zhou

    2011-01-01

    Rough set theory has witnessed great success in data mining and knowledge discovery, which provides a good support for decision making on a certain data. However, a practical decision problem always shows diversity under the same circumstance according to different personality of the decision makers. A simplex decision model can not provide a full description on such diverse decisions. In this article, a review of Pawlak rough set models and probabilistic rough set models is presented, and a ...

  12. Communicating asset risk: how name recognition and the format of historic volatility information affect risk perception and investment decisions.

    Science.gov (United States)

    Weber, Elke U; Siebenmorgen, Niklas; Weber, Martin

    2005-06-01

    An experiment examined how the type and presentation format of information about investment options affected investors' expectations about asset risk, returns, and volatility and how these expectations related to asset choice. Respondents were provided with the names of 16 domestic and foreign investment options, with 10-year historical return information for these options, or with both. Historical returns were presented either as a bar graph of returns per year or as a continuous density distribution. Provision of asset names allowed for the investigation of the mechanisms underlying the home bias in investment choice and other asset familiarity effects. Respondents provided their expectations of future returns, volatility, and expected risk, and indicated the options they would choose to invest in. Expected returns closely resembled historical expected values. Risk and volatility perceptions both varied significantly as a function of the type and format of information, but in different ways. Expected returns and perceived risk, not predicted volatility, predicted portfolio decisions.

  13. Toxicant emissions from hazardous wastes in landfills - implications for disposal risk management decisions

    International Nuclear Information System (INIS)

    Assmuth, T.W.

    1991-01-01

    The environmental impacts and risks of hazardous wastes disposed in Finnish landfills were assessed in a 5-yr field study. By systematic analysis of the acquired information, the toxicological impacts and risks of landfills seem as a whole small when compared with those caused by other kinds of environmental toxicants. Locally more significant risks arise, and may be difficult to manage. Scientific information on risk factors and their development is as yet insufficient, and additional research and monitoring are needed. Since uncertainties will remain, the prevention and control of risks, e.g. by improved hazardous waste management and disposal, are advocated by safety principles, but are made difficult by many technical and societal factors. Control strategies and remedial actions should thus be based on more comprehensive, comparative risk assessments and improved decision methods. Ethical, political and methodological issues in the management of hazardous waste disposal are discussed, with special reference to the interaction of science with regulatory decision-making related to the risks of old chemical waste sites. (44 refs.) (au)

  14. Sustainable nanotechnology decision support system: bridging risk management, sustainable innovation and risk governance

    International Nuclear Information System (INIS)

    Subramanian, Vrishali; Semenzin, Elena; Hristozov, Danail; Zabeo, Alex; Malsch, Ineke; McAlea, Eamonn; Murphy, Finbarr; Mullins, Martin; Harmelen, Toon van; Ligthart, Tom; Linkov, Igor; Marcomini, Antonio

    2016-01-01

    The significant uncertainties associated with the (eco)toxicological risks of engineered nanomaterials pose challenges to the development of nano-enabled products toward greatest possible societal benefit. This paper argues for the use of risk governance approaches to manage nanotechnology risks and sustainability, and considers the links between these concepts. Further, seven risk assessment and management criteria relevant to risk governance are defined: (a) life cycle thinking, (b) triple bottom line, (c) inclusion of stakeholders, (d) risk management, (e) benefit–risk assessment, (f) consideration of uncertainty, and (g) adaptive response. These criteria are used to compare five well-developed nanotechnology frameworks: International Risk Governance Council framework, Comprehensive Environmental Assessment, Streaming Life Cycle Risk Assessment, Certifiable Nanospecific Risk Management and Monitoring System and LICARA NanoSCAN. A Sustainable Nanotechnology Decision Support System (SUNDS) is proposed to better address current nanotechnology risk assessment and management needs, and makes. Stakeholder needs were solicited for further SUNDS enhancement through a stakeholder workshop that included representatives from regulatory, industry and insurance sectors. Workshop participants expressed the need for the wider adoption of sustainability assessment methods and tools for designing greener nanomaterials.

  15. Sustainable nanotechnology decision support system: bridging risk management, sustainable innovation and risk governance

    Energy Technology Data Exchange (ETDEWEB)

    Subramanian, Vrishali, E-mail: vrishali.subramanian@unive.it; Semenzin, Elena; Hristozov, Danail; Zabeo, Alex [University Ca’ Foscari of Venice, Department of Environmental Sciences, Informatics and Statistics (Italy); Malsch, Ineke [Malsch TechnoValuation (Netherlands); McAlea, Eamonn; Murphy, Finbarr; Mullins, Martin [University of Limerick, Kemmy Business School (Ireland); Harmelen, Toon van; Ligthart, Tom [TNO (Netherlands); Linkov, Igor; Marcomini, Antonio, E-mail: marcom@unive.it [University Ca’ Foscari of Venice, Department of Environmental Sciences, Informatics and Statistics (Italy)

    2016-04-15

    The significant uncertainties associated with the (eco)toxicological risks of engineered nanomaterials pose challenges to the development of nano-enabled products toward greatest possible societal benefit. This paper argues for the use of risk governance approaches to manage nanotechnology risks and sustainability, and considers the links between these concepts. Further, seven risk assessment and management criteria relevant to risk governance are defined: (a) life cycle thinking, (b) triple bottom line, (c) inclusion of stakeholders, (d) risk management, (e) benefit–risk assessment, (f) consideration of uncertainty, and (g) adaptive response. These criteria are used to compare five well-developed nanotechnology frameworks: International Risk Governance Council framework, Comprehensive Environmental Assessment, Streaming Life Cycle Risk Assessment, Certifiable Nanospecific Risk Management and Monitoring System and LICARA NanoSCAN. A Sustainable Nanotechnology Decision Support System (SUNDS) is proposed to better address current nanotechnology risk assessment and management needs, and makes. Stakeholder needs were solicited for further SUNDS enhancement through a stakeholder workshop that included representatives from regulatory, industry and insurance sectors. Workshop participants expressed the need for the wider adoption of sustainability assessment methods and tools for designing greener nanomaterials.

  16. Numeracy Predicts Risk of Pre-Hospital Decision Delay: a Retrospective Study of Acute Coronary Syndrome Survival.

    Science.gov (United States)

    Petrova, Dafina; Garcia-Retamero, Rocio; Catena, Andrés; Cokely, Edward; Heredia Carrasco, Ana; Arrebola Moreno, Antonio; Ramírez Hernández, José Antonio

    2017-04-01

    Many patients delay seeking medical attention during acute coronary syndromes (ACS), profoundly increasing their risk for death and major disability. Although research has identified several risk factors, efforts to improve patient decision making have generally been unsuccessful, prompting a call for more research into psychological factors. The purpose of this study is to estimate the relationship between ACS decision delay and numeracy, a factor closely related to general decision making skill and risk literacy. About 5 days after experiencing ACS, 102 survivors (mean age = 58, 32-74) completed a questionnaire including measures of numeracy, decision delay, and other relevant factors (e.g., anxiety, depression, symptom severity, knowledge, demographics). Low patient numeracy was related to longer decision delay, OR = 0.64 [95 % confidence interval (CI) 0.44, 0.92], which was in turn related to higher odds of positive troponin on arrival at the hospital, OR = 1.37 [95 % CI 1.01, 2.01]. Independent of the influence of all other assessed factors, a patient with high (vs. low) numeracy was about four times more likely to seek medical attention within the critical first hour after symptom onset (i.e., OR high-low  = 3.84 [1.127, 11.65]). Numeracy may be one of the largest decision delay risk factors identified to date. Results accord with theories emphasizing potentially pivotal roles of patient deliberation, denial, and outcome understanding during decision making. Findings suggest that brief numeracy assessments may predict which patients are at greater risk for life-threatening decision delay and may also facilitate the design of risk communications that are appropriate for diverse patients who vary in risk literacy.

  17. Modifiable risk factors predicting major depressive disorder at four year follow-up: a decision tree approach.

    Science.gov (United States)

    Batterham, Philip J; Christensen, Helen; Mackinnon, Andrew J

    2009-11-22

    Relative to physical health conditions such as cardiovascular disease, little is known about risk factors that predict the prevalence of depression. The present study investigates the expected effects of a reduction of these risks over time, using the decision tree method favoured in assessing cardiovascular disease risk. The PATH through Life cohort was used for the study, comprising 2,105 20-24 year olds, 2,323 40-44 year olds and 2,177 60-64 year olds sampled from the community in the Canberra region, Australia. A decision tree methodology was used to predict the presence of major depressive disorder after four years of follow-up. The decision tree was compared with a logistic regression analysis using ROC curves. The decision tree was found to distinguish and delineate a wide range of risk profiles. Previous depressive symptoms were most highly predictive of depression after four years, however, modifiable risk factors such as substance use and employment status played significant roles in assessing the risk of depression. The decision tree was found to have better sensitivity and specificity than a logistic regression using identical predictors. The decision tree method was useful in assessing the risk of major depressive disorder over four years. Application of the model to the development of a predictive tool for tailored interventions is discussed.

  18. Modifiable risk factors predicting major depressive disorder at four year follow-up: a decision tree approach

    Directory of Open Access Journals (Sweden)

    Christensen Helen

    2009-11-01

    Full Text Available Abstract Background Relative to physical health conditions such as cardiovascular disease, little is known about risk factors that predict the prevalence of depression. The present study investigates the expected effects of a reduction of these risks over time, using the decision tree method favoured in assessing cardiovascular disease risk. Methods The PATH through Life cohort was used for the study, comprising 2,105 20-24 year olds, 2,323 40-44 year olds and 2,177 60-64 year olds sampled from the community in the Canberra region, Australia. A decision tree methodology was used to predict the presence of major depressive disorder after four years of follow-up. The decision tree was compared with a logistic regression analysis using ROC curves. Results The decision tree was found to distinguish and delineate a wide range of risk profiles. Previous depressive symptoms were most highly predictive of depression after four years, however, modifiable risk factors such as substance use and employment status played significant roles in assessing the risk of depression. The decision tree was found to have better sensitivity and specificity than a logistic regression using identical predictors. Conclusion The decision tree method was useful in assessing the risk of major depressive disorder over four years. Application of the model to the development of a predictive tool for tailored interventions is discussed.

  19. Shame in decision making under risk conditions: Understanding the effect of transparency

    Science.gov (United States)

    2018-01-01

    The role played by the emotion of shame in the area of decision-making in situations of risk has hardly been studied. In this article, we show how the socio-moral emotions and the anticipated feeling of shame associated with different options can determine our decisions, even overriding the cognitive choice tendency proposed by the certainty effect. To do so, we carried out an experiment with university students as participants, dividing them into four experimental conditions. Our findings suggest that people avoid making unethical decisions, both when these decisions are made public to others and when they remain in the private sphere. This result seems to indicate that the main factor in not making unethical decisions is related to the need to avoid transgressing an internal moral standard of behavior, and that the role of transparency is less relevant than expected. However, we propose that, although the effect of transparency is limited in reducing unethical economic decisions, it should continue to be taken into account in theoretical models that address the reasons people behave unethically. PMID:29444107

  20. Shame in decision making under risk conditions: Understanding the effect of transparency.

    Science.gov (United States)

    Bonavia, Tomas; Brox-Ponce, Josué

    2018-01-01

    The role played by the emotion of shame in the area of decision-making in situations of risk has hardly been studied. In this article, we show how the socio-moral emotions and the anticipated feeling of shame associated with different options can determine our decisions, even overriding the cognitive choice tendency proposed by the certainty effect. To do so, we carried out an experiment with university students as participants, dividing them into four experimental conditions. Our findings suggest that people avoid making unethical decisions, both when these decisions are made public to others and when they remain in the private sphere. This result seems to indicate that the main factor in not making unethical decisions is related to the need to avoid transgressing an internal moral standard of behavior, and that the role of transparency is less relevant than expected. However, we propose that, although the effect of transparency is limited in reducing unethical economic decisions, it should continue to be taken into account in theoretical models that address the reasons people behave unethically.

  1. Shame in decision making under risk conditions: Understanding the effect of transparency.

    Directory of Open Access Journals (Sweden)

    Tomas Bonavia

    Full Text Available The role played by the emotion of shame in the area of decision-making in situations of risk has hardly been studied. In this article, we show how the socio-moral emotions and the anticipated feeling of shame associated with different options can determine our decisions, even overriding the cognitive choice tendency proposed by the certainty effect. To do so, we carried out an experiment with university students as participants, dividing them into four experimental conditions. Our findings suggest that people avoid making unethical decisions, both when these decisions are made public to others and when they remain in the private sphere. This result seems to indicate that the main factor in not making unethical decisions is related to the need to avoid transgressing an internal moral standard of behavior, and that the role of transparency is less relevant than expected. However, we propose that, although the effect of transparency is limited in reducing unethical economic decisions, it should continue to be taken into account in theoretical models that address the reasons people behave unethically.

  2. Decision-making under risk of loss in children.

    Science.gov (United States)

    Steelandt, Sophie; Broihanne, Marie-Hélène; Romain, Amélie; Thierry, Bernard; Dufour, Valérie

    2013-01-01

    In human adults, judgment errors are known to often lead to irrational decision-making in risky contexts. While these errors can affect the accuracy of profit evaluation, they may have once enhanced survival in dangerous contexts following a "better be safe than sorry" rule of thumb. Such a rule can be critical for children, and it could develop early on. Here, we investigated the rationality of choices and the possible occurrence of judgment errors in children aged 3 to 9 years when exposed to a risky trade. Children were allocated with a piece of cookie that they could either keep or risk in exchange of the content of one cup among 6, visible in front of them. In the cups, cookies could be of larger, equal or smaller sizes than the initial allocation. Chances of losing or winning were manipulated by presenting different combinations of cookie sizes in the cups (for example 3 large, 2 equal and 1 small cookie). We investigated the rationality of children's response using the theoretical models of Expected Utility Theory (EUT) and Cumulative Prospect Theory. Children aged 3 to 4 years old were unable to discriminate the profitability of exchanging in the different combinations. From 5 years, children were better at maximizing their benefit in each combination, their decisions were negatively induced by the probability of losing, and they exhibited a framing effect, a judgment error found in adults. Confronting data to the EUT indicated that children aged over 5 were risk-seekers but also revealed inconsistencies in their choices. According to a complementary model, the Cumulative Prospect Theory (CPT), they exhibited loss aversion, a pattern also found in adults. These findings confirm that adult-like judgment errors occur in children, which suggests that they possess a survival value.

  3. Decision-making under risk of loss in children.

    Directory of Open Access Journals (Sweden)

    Sophie Steelandt

    Full Text Available In human adults, judgment errors are known to often lead to irrational decision-making in risky contexts. While these errors can affect the accuracy of profit evaluation, they may have once enhanced survival in dangerous contexts following a "better be safe than sorry" rule of thumb. Such a rule can be critical for children, and it could develop early on. Here, we investigated the rationality of choices and the possible occurrence of judgment errors in children aged 3 to 9 years when exposed to a risky trade. Children were allocated with a piece of cookie that they could either keep or risk in exchange of the content of one cup among 6, visible in front of them. In the cups, cookies could be of larger, equal or smaller sizes than the initial allocation. Chances of losing or winning were manipulated by presenting different combinations of cookie sizes in the cups (for example 3 large, 2 equal and 1 small cookie. We investigated the rationality of children's response using the theoretical models of Expected Utility Theory (EUT and Cumulative Prospect Theory. Children aged 3 to 4 years old were unable to discriminate the profitability of exchanging in the different combinations. From 5 years, children were better at maximizing their benefit in each combination, their decisions were negatively induced by the probability of losing, and they exhibited a framing effect, a judgment error found in adults. Confronting data to the EUT indicated that children aged over 5 were risk-seekers but also revealed inconsistencies in their choices. According to a complementary model, the Cumulative Prospect Theory (CPT, they exhibited loss aversion, a pattern also found in adults. These findings confirm that adult-like judgment errors occur in children, which suggests that they possess a survival value.

  4. Decision-Making under Risk of Loss in Children

    Science.gov (United States)

    Steelandt, Sophie; Broihanne, Marie-Hélène; Romain, Amélie; Thierry, Bernard; Dufour, Valérie

    2013-01-01

    In human adults, judgment errors are known to often lead to irrational decision-making in risky contexts. While these errors can affect the accuracy of profit evaluation, they may have once enhanced survival in dangerous contexts following a “better be safe than sorry” rule of thumb. Such a rule can be critical for children, and it could develop early on. Here, we investigated the rationality of choices and the possible occurrence of judgment errors in children aged 3 to 9 years when exposed to a risky trade. Children were allocated with a piece of cookie that they could either keep or risk in exchange of the content of one cup among 6, visible in front of them. In the cups, cookies could be of larger, equal or smaller sizes than the initial allocation. Chances of losing or winning were manipulated by presenting different combinations of cookie sizes in the cups (for example 3 large, 2 equal and 1 small cookie). We investigated the rationality of children's response using the theoretical models of Expected Utility Theory (EUT) and Cumulative Prospect Theory. Children aged 3 to 4 years old were unable to discriminate the profitability of exchanging in the different combinations. From 5 years, children were better at maximizing their benefit in each combination, their decisions were negatively induced by the probability of losing, and they exhibited a framing effect, a judgment error found in adults. Confronting data to the EUT indicated that children aged over 5 were risk-seekers but also revealed inconsistencies in their choices. According to a complementary model, the Cumulative Prospect Theory (CPT), they exhibited loss aversion, a pattern also found in adults. These findings confirm that adult-like judgment errors occur in children, which suggests that they possess a survival value. PMID:23349682

  5. Risk perception, trust and public engagement in nuclear decision-making in Hong Kong

    International Nuclear Information System (INIS)

    Mah, Daphne Ngar-yin; Hills, Peter; Tao, Julia

    2014-01-01

    The extent to which nuclear energy can be a feasible energy option has re-emerged as a subject of widespread debate following the Fukushima accident in Japan. However, relatively little is known about how public inputs can improve nuclear decision-making. This paper aims to provide a better understanding of public opinions regarding nuclear energy by examining its risk perception, trust and public engagement dimensions. Based on a survey of Hong Kong residents (n=509), we make some observations. Firstly, we offer empirical evidence that affirms the theoretical connections between risk perception, trust, and public engagement in the context of nuclear energy. Secondly, our logistic regression analysis indicates that demographics, trust, and perceptions of the efficacy of public engagement are factors explaining perceptions of greater risks and nuclear opposition. Thirdly, our conceptual model sheds light on the complexity of the trust concept, and specifies aspects of trust that are influential in the contexts of risk perception and nuclear choices. Our findings suggest that the Hong Kong government must ensure trust building receives prominent attention in nuclear decision-making, and that it should avoid excessive reliance on the business sector and should assume a key role for itself in enhancing trust in nuclear decision-making. - Highlights: • Risk perception, trust and public engagement matter to nuclear decision-making. • Our logistic regression analysis found that demographics, trust and perception of public engagement are the factors that explain risk perception and nuclear choice in Hong Kong. • Our conceptual model specifics aspects of trust that are influential

  6. Strategic insight and age-related goal-neglect influence risky decision-making.

    Science.gov (United States)

    Westbrook, Andrew; Martins, Bruna S; Yarkoni, Tal; Braver, Todd S

    2012-01-01

    Maximizing long-run gains often requires taking on some degree of risk, yet decision-makers often exhibit risk aversion (RA), rejecting risky prospects even when these have higher expected value (EV) than safer alternatives. We investigated whether explicit strategy instruction and practice can decrease prepotent RA, and whether aging impacts the efficacy of such an intervention. Participants performed a paired lottery task with options varying in risk and magnitude, both before and after practice with a similar task that encouraged maximization of EV and instruction to use this strategy in risky decisions. In both younger and older adults (OAs), strategy training reduced RA. Although RA was age-equivalent at baseline, larger training effects were observed in younger adults (YAs). These effects were not explained by risk-related (i.e., affective) interference effects or computation ability, but were consistent with a progressive, age-related neglect of the strategy across trials. Our findings suggest that strategy training can diminish RA, but that training efficacy is reduced among OAs, potentially due to goal neglect. We discuss implications for neural mechanisms that may distinguish older and YAs' risky decision-making.

  7. Aid decision algorithms to estimate the risk in congenital heart surgery.

    Science.gov (United States)

    Ruiz-Fernández, Daniel; Monsalve Torra, Ana; Soriano-Payá, Antonio; Marín-Alonso, Oscar; Triana Palencia, Eddy

    2016-04-01

    In this paper, we have tested the suitability of using different artificial intelligence-based algorithms for decision support when classifying the risk of congenital heart surgery. In this sense, classification of those surgical risks provides enormous benefits as the a priori estimation of surgical outcomes depending on either the type of disease or the type of repair, and other elements that influence the final result. This preventive estimation may help to avoid future complications, or even death. We have evaluated four machine learning algorithms to achieve our objective: multilayer perceptron, self-organizing map, radial basis function networks and decision trees. The architectures implemented have the aim of classifying among three types of surgical risk: low complexity, medium complexity and high complexity. Accuracy outcomes achieved range between 80% and 99%, being the multilayer perceptron method the one that offered a higher hit ratio. According to the results, it is feasible to develop a clinical decision support system using the evaluated algorithms. Such system would help cardiology specialists, paediatricians and surgeons to forecast the level of risk related to a congenital heart disease surgery. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

  8. Decision making for wildfires: A guide for applying a risk management process at the incident level

    Science.gov (United States)

    Mary A. Taber; Lisa M. Elenz; Paul G. Langowski

    2013-01-01

    This publication focuses on the thought processes and considerations surrounding a risk management process for decision making on wildfires. The publication introduces a six element risk management cycle designed to encourage sound risk-informed decision making in accordance with Federal wildland fire policy, although the process is equally applicable to non-Federal...

  9. A new importance measure for risk-informed decision making

    International Nuclear Information System (INIS)

    Borgonovo, E.; Apostolakis, G.E.

    2000-01-01

    Recently, several authors pointed out that the traditional importance measures had limitations. In this study, the problem through an analysis at the parameter level was investigated and a new measure was introduced. The measure was based on small parameter variations and is capable of accounting for the importance of a group of components/parameters. The definition, computational steps, and an application of a new importance measure for risk-informed decision making were presented here. Unlike traditional importance measures, differential importance measure (DIM) deals with changes in the various parameters that determine the unavailability/unreliability of a component, e.g., failure rates, common-cause failure rates, individual human errors. The importance of the component unavailability/unreliability can be calculated from the importance of the parameters. DIM can be calculated for the frequency of initiating events, while risk achievement worth (RAW) is limited to binary events, e.g., component unavailability. The changes in parameters are 'small'. This is more realistic than the drastic assumption in RAW that the component is always down. DIM is additive. This allows the evaluation of the impact of changes, such as the relaxation of quality assurance requirements, which affect groups of parameters, e.g., the failure rates of a group of pumps. (M.N.)

  10. How significant is perceived environmental risk to business location decisions?

    International Nuclear Information System (INIS)

    Allison, T.; Calzonetti, F.

    1996-01-01

    It has been argued that adverse perceptions of risk associated with high-level nuclear waste (HLNW) facilities will have significant impacts on the attraction of new, and the maintenance of existing business activities in areas in which adverse perceptions develop. We examine this proposition by the considering the importance of environmental amenities and a range of other factors to business location decisions using evidence from surveys of more than 400 manufacturing and business service establishments in Colorado and Utah. We show that the importance of environmental amenities varies according to a number of factors, in particular the type of product (manufactured product or business service), type of establishment (single-establishment firm or establishment of a multilocational firm) and establishment employment size. Policies designed to offset the loss of business activity that might result from adverse risk perceptions associated with HLNW facilities must therefore take into account how sensitive various forms of business activity present or likely to locate in any particular area might be to environmental factors

  11. How significant is perceived environmental risk to business location decisions?

    Energy Technology Data Exchange (ETDEWEB)

    Allison, T. [Argonne National Lab., IL (United States); Calzonetti, F. [West Virginia Univ., Morgantown, WV (United States)

    1996-12-31

    It has been argued that adverse perceptions of risk associated with high-level nuclear waste (HLNW) facilities will have significant impacts on the attraction of new, and the maintenance of existing business activities in areas in which adverse perceptions develop. We examine this proposition by the considering the importance of environmental amenities and a range of other factors to business location decisions using evidence from surveys of more than 400 manufacturing and business service establishments in Colorado and Utah. We show that the importance of environmental amenities varies according to a number of factors, in particular the type of product (manufactured product or business service), type of establishment (single-establishment firm or establishment of a multilocational firm) and establishment employment size. Policies designed to offset the loss of business activity that might result from adverse risk perceptions associated with HLNW facilities must therefore take into account how sensitive various forms of business activity present or likely to locate in any particular area might be to environmental factors.

  12. Risk Estimates and Risk Factors Related to Psychiatric Inpatient Suicide

    DEFF Research Database (Denmark)

    Madsen, Trine; Erlangsen, Annette; Nordentoft, Merete

    2017-01-01

    trends, and socio-demographic and clinical risk factors of suicide in psychiatric inpatients. Psychiatric inpatients have a very high risk of suicide relative to the background population, but it remains challenging for clinicians to identify those patients that are most likely to die from suicide during......People with mental illness have an increased risk of suicide. The aim of this paper is to provide an overview of suicide risk estimates among psychiatric inpatients based on the body of evidence found in scientific peer-reviewed literature; primarily focusing on the relative risks, rates, time...... admission. Most studies are based on low power, thus compromising quality and generalisability. The few studies with sufficient statistical power mainly identified non-modifiable risk predictors such as male gender, diagnosis, or recent deliberate self-harm. Also, the predictive value of these predictors...

  13. Risk Estimates and Risk Factors Related to Psychiatric Inpatient Suicide

    DEFF Research Database (Denmark)

    Madsen, Trine; Erlangsen, Annette; Nordentoft, Merete

    2017-01-01

    People with mental illness have an increased risk of suicide. The aim of this paper is to provide an overview of suicide risk estimates among psychiatric inpatients based on the body of evidence found in scientific peer-reviewed literature; primarily focusing on the relative risks, rates, time...... trends, and socio-demographic and clinical risk factors of suicide in psychiatric inpatients. Psychiatric inpatients have a very high risk of suicide relative to the background population, but it remains challenging for clinicians to identify those patients that are most likely to die from suicide during...... is low. It would be of great benefit if future studies would be based on large samples while focusing on modifiable predictors over the course of an admission, such as hopelessness, depressive symptoms, and family/social situations. This would improve our chances of developing better risk assessment...

  14. Decision-making, financial risk aversion, and behavioral biases: The role of testosterone and stress.

    Science.gov (United States)

    Nofsinger, John R; Patterson, Fernando M; Shank, Corey A

    2018-05-01

    We examine the relation between testosterone, cortisol, and financial decisions in a sample of naïve investors. We find that testosterone level is positively related to excess risk-taking, whereas cortisol level is negatively related to excess risk-taking (correlation coefficient [r]: 0.75 and -0.21, respectively). Additionally, we find support for the dual-hormone hypothesis in a financial context. Specifically, the testosterone-to-cortisol ratio is significantly related to loss aversion. Individuals with a higher ratio are 3.4 times more likely to sell losing stocks (standard error [SE]: 1.63). Furthermore, we find a positive feedback loop between financial success, testosterone, and cortisol. Specifically, financial success is significantly related to higher post-trial testosterone and cortisol by a factor of 0.53 (SE: 0.14). Finally, we find that in a competitive environment, testosterone level increases significantly, leading to greater risk-taking than in noncompetitive environment. Overall, this study underscores the importance of the endocrine system on financial decision-making. The results of this study are relevant to a broad audience, including investors looking to optimize financial performance, industry human resources, market regulators, and researchers. Copyright © 2018 Elsevier B.V. All rights reserved.

  15. Risk informed decisions and regulations - STUK's policy and current practice

    International Nuclear Information System (INIS)

    Julin, A.; Niemalae, I.; Virolainen, R.

    2001-01-01

    Consideration of severe accidents beyond the traditional design basis, including full core melt accidents, has become an important ingredient of regulatory process in Finland. Accordingly, plant-specific level-1 and level-2 PSA studies are a regulatory requirement. These studies are being used in a living fashion both at the utilities and STUK. Plant specific living PSAs have been completed for all operating Finnish plants, including internal initiators, fires, flooding, harsh weather conditions seismic events for operation mode and internal events for low power mode. Many specific applications of the Living PSA have already been introduced but some are still waiting for further development such as Risk Informed ISI, IST and Tech Specs. Examples of safety issues, for which the PSA insights give an improved basis for decisions, are approvals of plant modifications and resolution of testing, inspection and maintenance strategies. PSA insights are also of value in assessing meaningfulness of requirements which are based on traditional engineering judgement but do not form an essential part of defence-in-depth concept. Examples of such requirements are details of safety classification and many Technical Specification requirements. STUK has recently conducted a pilot study on risk-informed ISI. The aim of the study was to explore how the plant specific PSAs could best be used for assessment of the ISI programmes. This paper discusses the findings obtained during the pilot study on risk-informed ISI of pipings. The study produced essential insights of the applied method. Furthermore, the study gave guidance to extract items for further development. Based on these results and overall experience the general suitability of the method for further application is evaluated. (author)

  16. Risk assessment for federal regulatory decisions on organisms produced through biotechnology

    International Nuclear Information System (INIS)

    Payne, John H.; Medley, Terry L.

    1992-01-01

    This article discusses: 1. Purposes and history of risk assessment: application to biotechnology; 2. Framework in the United States for decisions on organisms produced through biotechnology; 3. Choosing from among potential approaches to assessment: a). exposure assessment does not equate to risk assessment: what are the hazards?; b). Setting risk assessment priorities; c). 'Quantitative' environmental and 'quantitative' ecological risk assessments; d). Ecological risk assessments based on biological and ecological principles. 4. The bases for good regulatory decisions

  17. Risk assessment for federal regulatory decisions on organisms produced through biotechnology

    Energy Technology Data Exchange (ETDEWEB)

    Payne, John H; Medley, Terry L [Biotechnology, Biologics and Environmental Protection Animal and Plant Health Inspection Service, U.S. Department of Agriculture, Hyattsville, MD (United States)

    1992-07-01

    This article discusses: 1. Purposes and history of risk assessment: application to biotechnology; 2. Framework in the United States for decisions on organisms produced through biotechnology; 3. Choosing from among potential approaches to assessment: a). exposure assessment does not equate to risk assessment: what are the hazards?; b). Setting risk assessment priorities; c). 'Quantitative' environmental and 'quantitative' ecological risk assessments; d). Ecological risk assessments based on biological and ecological principles. 4. The bases for good regulatory decisions.

  18. The Relations between Decision Making in Social Relationships and Decision Making Styles

    Science.gov (United States)

    Sari, Enver

    2008-01-01

    The research reported in this paper aimed to examine the relationships between decisiveness in social relationships, and the decision-making styles of a group of university students and to investigate the contributions of decision-making styles in predicting decisiveness in social relationship (conflict resolution, social relationship selection…

  19. Interactions Among Insider Ownership, Dividend Policy, Debt Policy, Investment Decision, and Business Risk

    OpenAIRE

    F., Indri Erkaningrum

    2013-01-01

    The study of interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk is still conducted. This research aims at investigating theinfluencing factors of insider ownership, dividend policy, debt policy, investment decision, business risk, and the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk. The samples of the research are 137 manufacturing companies listed in the Indonesia Stock Exchan...

  20. INTERACTIONS AMONG INSIDER OWNERSHIP, DIVIDEND POLICY, DEBT POLICY, INVESTMENT DECISION, AND BUSINESS RISK

    OpenAIRE

    F., Indri Erkaningrum

    2015-01-01

    The study of interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk is still conducted. This research aims at investigating theinfluencing factors of insider ownership, dividend policy, debt policy, investment decision, business risk, and the interaction among insider ownership, dividend policy, debt policy, investment decision, and business risk. The samples of the research are 137 manufacturing companies listed in the Indonesia Stock Exchan...

  1. Calculating excess lifetime risk in relative risk models

    International Nuclear Information System (INIS)

    Vaeth, M.; Pierce, D.A.

    1990-01-01

    When assessing the impact of radiation exposure it is common practice to present the final conclusions in terms of excess lifetime cancer risk in a population exposed to a given dose. The present investigation is mainly a methodological study focusing on some of the major issues and uncertainties involved in calculating such excess lifetime risks and related risk projection methods. The age-constant relative risk model used in the recent analyses of the cancer mortality that was observed in the follow-up of the cohort of A-bomb survivors in Hiroshima and Nagasaki is used to describe the effect of the exposure on the cancer mortality. In this type of model the excess relative risk is constant in age-at-risk, but depends on the age-at-exposure. Calculation of excess lifetime risks usually requires rather complicated life-table computations. In this paper we propose a simple approximation to the excess lifetime risk; the validity of the approximation for low levels of exposure is justified empirically as well as theoretically. This approximation provides important guidance in understanding the influence of the various factors involved in risk projections. Among the further topics considered are the influence of a latent period, the additional problems involved in calculations of site-specific excess lifetime cancer risks, the consequences of a leveling off or a plateau in the excess relative risk, and the uncertainties involved in transferring results from one population to another. The main part of this study relates to the situation with a single, instantaneous exposure, but a brief discussion is also given of the problem with a continuous exposure at a low-dose rate

  2. Economic assessment of flood forecasts for a risk-averse decision-maker

    Science.gov (United States)

    Matte, Simon; Boucher, Marie-Amélie; Boucher, Vincent; Fortier-Filion, Thomas-Charles

    2017-04-01

    A large effort has been made over the past 10 years to promote the operational use of probabilistic or ensemble streamflow forecasts. It has also been suggested in past studies that ensemble forecasts might possess a greater economic value than deterministic forecasts. However, the vast majority of recent hydro-economic literature is based on the cost-loss ratio framework, which might be appealing for its simplicity and intuitiveness. One important drawback of the cost-loss ratio is that it implicitly assumes a risk-neutral decision maker. By definition, a risk-neutral individual is indifferent to forecasts' sharpness: as long as forecasts agree with observations on average, the risk-neutral individual is satisfied. A risk-averse individual, however, is sensitive to the level of precision (sharpness) of forecasts. This person is willing to pay to increase his or her certainty about future events. In fact, this is how insurance companies operate: the probability of seeing one's house burn down is relatively low, so the expected cost related to such event is also low. However, people are willing to buy insurance to avoid the risk, however small, of loosing everything. Similarly, in a context where people's safety and property is at stake, the typical decision maker is more risk-averse than risk-neutral. Consequently, the cost-loss ratio is not the most appropriate tool to assess the economic value of flood forecasts. This presentation describes a more realistic framework for assessing the economic value of such forecasts for flood mitigation purposes. Borrowing from economics, the Constant Absolute Risk Aversion utility function (CARA) is the central tool of this new framework. Utility functions allow explicitly accounting for the level of risk aversion of the decision maker and fully exploiting the information related to ensemble forecasts' uncertainty. Three concurrent ensemble streamflow forecasting systems are compared in terms of quality (comparison with

  3. Managing risk in statistics - "Relative risk" | Durrheim | South African ...

    African Journals Online (AJOL)

    South African Family Practice. Journal Home · ABOUT THIS JOURNAL · Advanced Search · Current Issue · Archives · Journal Home > Vol 45, No 8 (2003) >. Log in or Register to get access to full text downloads. Username, Password, Remember me, or Register. Managing risk in statistics - "Relative risk". DN Durrheim ...

  4. Risk Engineering, Sciences, Computation, and Informed Decisions, Phase II

    Data.gov (United States)

    National Aeronautics and Space Administration — Wrong decisions during the missions can lead to an unsafe condition or immediate failure, while correct decisions can help continue the missions even from faulty...

  5. Decision making for breast cancer prevention among women at elevated risk.

    Science.gov (United States)

    Padamsee, Tasleem J; Wills, Celia E; Yee, Lisa D; Paskett, Electra D

    2017-03-24

    Several medical management approaches have been shown to be effective in preventing breast cancer and detecting it early among women at elevated risk: 1) prophylactic mastectomy; 2) prophylactic oophorectomy; 3) chemoprevention; and 4) enhanced screening routines. To varying extents, however, these approaches are substantially underused relative to clinical practice recommendations. This article reviews the existing research on the uptake of these prevention approaches, the characteristics of women who are likely to use various methods, and the decision-making processes that underlie the differing choices of women. It also highlights important areas for future research, detailing the types of studies that are particularly needed in four key areas: documenting women's perspectives on their own perceptions of risk and prevention decisions; explicit comparisons of available prevention pathways and their likely health effects; the psychological, interpersonal, and social processes of prevention decision making; and the dynamics of subgroup variation. Ultimately, this research could support the development of interventions that more fully empower women to make informed and values-consistent decisions, and to move towards favorable health outcomes.

  6. From science to decision-making: taking the risk to communicate on risks

    Science.gov (United States)

    Leroi, Eric

    2015-04-01

    Geoscientists and decision-makers have the same responsibility toward the society: reducing the damaging consequences induced by natural phenomena. They have to work together, geoscientists to improve the knowledge and decision-makers to take the "best" decision, both to design and implement balanced solutions, both to communicate. Feedback shows that if the collaboration between them has already improved, a lot has still to be done, especially in terms of communication; endless litany, geoscientists don't communicate in the right way! In a hyperspecialized technological and segmented society with sophisticated methods of communication, geoscientists don't use appropriate tools and terminology. It's true, and a lot of examples can be shown that highlight this! Risks is based on complex concepts, on notions that are poorly understood, even by scientists themselves, especially the concepts of probability and occurrence of phenomena. But the problem rest as well on the role and on the responsibility of the geoscientists. Risk management experts address geosciences and technology to identify problems and define protection, including prohibitive measures (such as not allowing building in hazardous areas). Policy makers and local planners want to know where to develop territories. On one hand the identification of problems, on the other hand the needs of solutions. Dialectic is not the same. When responsibility, money and image are the three main pillars of decision-making, long-term modeling and uncertainty, are the basic ones for geosciences. In our participative democracies people want to be actor of the development of their own territories; they want more freedom, more protection and less tax. Face to unrealistic political answers geoscientists have to explain and convince. It's not possible to gain on everything and some are going to loose. Shall geoscientists let decision-makers communicate on topics they hardly understand? No. Shall geoscientists communicate on

  7. Quantifying uncertainty in pest risk maps and assessments: adopting a risk-averse decision maker’s perspective

    Science.gov (United States)

    Denys Yemshanov; Frank H. Koch; Mark J. Ducey; Robert A. Haack; Marty Siltanen; Kirsty Wilson

    2013-01-01

    Pest risk maps are important decision support tools when devising strategies to minimize introductions of invasive organisms and mitigate their impacts. When possible management responses to an invader include costly or socially sensitive activities, decision-makers tend to follow a more certain (i.e., risk-averse) course of action. We presented a new mapping technique...

  8. An application of the value tree analysis methodology within the integrated risk informed decision making for the nuclear facilities

    International Nuclear Information System (INIS)

    Borysiewicz, Mieczysław; Kowal, Karol; Potempski, Sławomir

    2015-01-01

    A new framework of integrated risk informed decision making (IRIDM) has been recently developed in order to improve the risk management of the nuclear facilities. IRIDM is a process in which qualitatively different inputs, corresponding to different types of risk, are jointly taken into account. However, the relative importance of the IRIDM inputs and their influence on the decision to be made is difficult to be determined quantitatively. An improvement of this situation can be achieved by application of the Value Tree Analysis (VTA) methods. The aim of this article is to present the VTA methodology in the context of its potential usage in the decision making on nuclear facilities. The benefits of the VTA application within the IRIDM process were identified while making the decision on fuel conversion of the research reactor MARIA. - Highlights: • New approach to risk informed decision making on nuclear facilities was postulated. • Value tree diagram was developed for decision processes on nuclear installations. • An experiment was performed to compare the new approach with the standard one. • Benefits of the new approach were reached in fuel conversion of a research reactor. • The new approach makes the decision making process more transparent and auditable

  9. [The Intentions Affecting the Medical Decision-Making Behavior of Surrogate Decision Makers of Critically Ill Patients and Related Factors].

    Science.gov (United States)

    Su, Szu-Huei; Wu, Li-Min

    2018-04-01

    The severity of diseases and high mortality rates that typify the intensive care unit often make it difficult for surrogate decision makers to make decisions for critically ill patients regarding whether to continue medical treatments or to accept palliative care. To explore the behavioral intentions that underlie the medical decisions of surrogate decision makers of critically ill patients and the related factors. A cross-sectional, correlation study design was used. A total of 193 surrogate decision makers from six ICUs in a medical center in southern Taiwan were enrolled as participants. Three structured questionnaires were used, including a demographic datasheet, the Family Relationship Scale, and the Behavioral Intention of Medical Decisions Scale. Significantly positive correlations were found between the behavioral intentions underlying medical decisions and the following variables: the relationship of the participant to the patient (Eta = .343, p = .020), the age of the patient (r = .295, p medical decisions of the surrogate decision makers, explaining 13.9% of the total variance. In assessing the behavioral intentions underlying the medical decisions of surrogate decision makers, health providers should consider the relationship between critical patients and their surrogate decision makers, patient age, the length of ICU stay, and whether the patient has a pre-signed advance healthcare directive in order to maximize the effectiveness of medical care provided to critically ill patients.

  10. Risk Aversion is Associated with Decision Making among Community-Based Older Persons.

    Science.gov (United States)

    Boyle, Patricia A; Yu, Lei; Buchman, Aron S; Bennett, David A

    2012-01-01

    Risk aversion is associated with many important decisions among younger and middle aged persons, but the association of risk aversion with decision making has not been well studied among older persons who face some of the most significant decisions of their lives. Using data from 606 community-dwelling older persons without dementia from the Rush Memory and Aging Project, an ongoing longitudinal epidemiologic study of aging, we examined the association of risk aversion with decision making. Risk aversion was measured using standard behavioral economics questions in which participants were asked to choose between a certain monetary payment ($15) versus a gamble in which they could gain more than $15 or gain nothing; potential gamble gains ranged from $20 to $300 with the gain amounts varied randomly over questions. Decision making was measured using a 12 item version of the Decision Making Competence Assessment Tool. In a linear regression model adjusted for age, sex, education, and income, greater risk aversion was associated with poorer decision making [estimate = -1.03, standard error (SE) = 0.35, p = 0.003]. Subsequent analyses showed that the association of risk aversion with decision making persisted after adjustment for global cognitive function as well as executive and non-executive cognitive abilities. Similar to findings from studies of younger persons, risk aversion is associated with poorer decision making among older persons who face a myriad of complex and influential decisions.

  11. Development of a Spatial Decision Support System for Analyzing Changes in Hydro-meteorological Risk

    Science.gov (United States)

    van Westen, Cees

    2013-04-01

    In the framework of the EU FP7 Marie Curie ITN Network "CHANGES: Changing Hydro-meteorological Risks, as Analyzed by a New Generation of European Scientists (http://www.changes-itn.eu)", a spatial decision support system is under development with the aim to analyze the effect of risk reduction planning alternatives on reducing the risk now and in the future, and support decision makers in selecting the best alternatives. The SDSS is one of the main outputs of the CHANGES network, which will develop an advanced understanding of how global changes, related to environmental and climate change as well as socio-economical change, may affect the temporal and spatial patterns of hydro-meteorological hazards and associated risks in Europe; how these changes can be assessed, modeled, and incorporated in sustainable risk management strategies, focusing on spatial planning, emergency preparedness and risk communication. The CHANGES network consists of 11 full partners and 6 associate partners of which 5 private companies, representing 10 European countries. The CHANGES network has hired 12 Early Stage Researchers (ESRs) and is currently hiring 3-6 researchers more for the implementation of the SDSS. The Spatial Decision Support System will be composed of a number of integrated components. The Risk Assessment component allows to carry out spatial risk analysis, with different degrees of complexity, ranging from simple exposure (overlay of hazard and assets maps) to quantitative analysis (using different hazard types, temporal scenarios and vulnerability curves) resulting into risk curves. The platform does not include a component to calculate hazard maps, and existing hazard maps are used as input data for the risk component. The second component of the SDSS is a risk reduction planning component, which forms the core of the platform. This component includes the definition of risk reduction alternatives (related to disaster response planning, risk reduction measures and

  12. Real-Time Optimal Flood Control Decision Making and Risk Propagation Under Multiple Uncertainties

    Science.gov (United States)

    Zhu, Feilin; Zhong, Ping-An; Sun, Yimeng; Yeh, William W.-G.

    2017-12-01

    Multiple uncertainties exist in the optimal flood control decision-making process, presenting risks involving flood control decisions. This paper defines the main steps in optimal flood control decision making that constitute the Forecast-Optimization-Decision Making (FODM) chain. We propose a framework for supporting optimal flood control decision making under multiple uncertainties and evaluate risk propagation along the FODM chain from a holistic perspective. To deal with uncertainties, we employ stochastic models at each link of the FODM chain. We generate synthetic ensemble flood forecasts via the martingale model of forecast evolution. We then establish a multiobjective stochastic programming with recourse model for optimal flood control operation. The Pareto front under uncertainty is derived via the constraint method coupled with a two-step process. We propose a novel SMAA-TOPSIS model for stochastic multicriteria decision making. Then we propose the risk assessment model, the risk of decision-making errors and rank uncertainty degree to quantify the risk propagation process along the FODM chain. We conduct numerical experiments to investigate the effects of flood forecast uncertainty on optimal flood control decision making and risk propagation. We apply the proposed methodology to a flood control system in the Daduhe River basin in China. The results indicate that the proposed method can provide valuable risk information in each link of the FODM chain and enable risk-informed decisions with higher reliability.

  13. A Decision Support System for Drinking Water Production Integrating Health Risks Assessment

    Science.gov (United States)

    Delpla, Ianis; Monteith, Donald T.; Freeman, Chris; Haftka, Joris; Hermens, Joop; Jones, Timothy G.; Baurès, Estelle; Jung, Aude-Valérie; Thomas, Olivier

    2014-01-01

    The issue of drinking water quality compliance in small and medium scale water services is of paramount importance in relation to the 98/83/CE European Drinking Water Directive (DWD). Additionally, concerns are being expressed over the implementation of the DWD with respect to possible impacts on water quality from forecast changes in European climate with global warming and further anticipated reductions in north European acid emissions. Consequently, we have developed a decision support system (DSS) named ARTEM-WQ (AwaReness Tool for the Evaluation and Mitigation of drinking Water Quality issues resulting from environmental changes) to support decision making by small and medium plant operators and other water stakeholders. ARTEM-WQ is based on a sequential risk analysis approach that includes consideration of catchment characteristics, climatic conditions and treatment operations. It provides a holistic evaluation of the water system, while also assessing human health risks of organic contaminants potentially present in treated waters (steroids, pharmaceuticals, pesticides, bisphenol-a, polychlorobiphenyls, polycyclic aromatic hydrocarbons, petrochemical hydrocarbons and disinfection by-products; n = 109). Moreover, the system provides recommendations for improvement while supporting decision making in its widest context. The tool has been tested on various European catchments and shows a promising potential to inform water managers of risks and appropriate mitigative actions. Further improvements should include toxicological knowledge advancement, environmental background pollutant concentrations and the assessment of the impact of distribution systems on water quality variation. PMID:25046634

  14. Climate change, global risks, challenges and decisions. Synthesis report

    International Nuclear Information System (INIS)

    Richardson, K.; Steffen, W.; Schellnhuber, H.J.

    2009-03-01

    The United Nations Framework Convention on Climate Change (UNFCCC) meeting to be held in Copenhagen in December 2009 (the 15th Conference of the Parties, COP-15) will be a critical step in developing a global response to the threat of climate change caused by human activities. The primary scientific input to those negotiations is the Fourth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), published in 2007. The IPCC report has already been instrumental in increasing both public and political awareness of the societal risks associated with unchecked emission of greenhouse gases. Since the production of the IPCC report, new knowledge has emerged that furthers understanding of the impacts of human influence on the climate and the response options and approaches that are available to tackle this complex issue. To bring this new knowledge together, the International Alliance of Research Universities organised an international scientific congress on climate change, Climate Change: Global Risks, Challenges and Decisions, which was held in Copenhagen from 10-12 March 2009. Participants came from nearly 80 different countries and contributed with more than 1400 scientific presentations. Abstracts for all of the scientific presentations made can be found at www.iop.org/EJ/volume/1755-1315/6, and a transcript of the closing plenary session can be found at environmentalresearchweb.org/cws/article/opinion/39126. This synthesis report presents an up-to-date overview of a broad range of research relevant to climate change - including fundamental climate science, the impacts of a changing climate on society and environment, and the many tools and approaches available to deal effectively with the challenge of climate change. (LN)

  15. Risky decision-making under risk in schizophrenia: A deliberate choice?

    Science.gov (United States)

    Pedersen, Anya; Göder, Robert; Tomczyk, Samuel; Ohrmann, Patricia

    2017-09-01

    Patients with schizophrenia reveal impaired decision-making strategies causing social, financial and health care problems. The extent to which deficits in decision-making reflect intentional risky choices in schizophrenia is still under debate. Based on previous studies we expected patients with schizophrenia to reveal a riskier performance on the GDT and to make more disadvantageous decisions on the IGT. In the present study, we investigated 38 patients with schizophrenia and 38 matched healthy control subjects with two competing paradigms regarding feedback: (1) The Game of Dice Task (GDT), in which the probabilities of winning or losing are stable and explicitly disclosed to the subject, to assess decision-making under risk and (2) the Iowa Gambling Task (IGT), which requires subjects to infer the probabilities of winning or losing from feedback, to investigate decision-making under ambiguity. Patients with schizophrenia revealed an overall riskier performance on the GDT; although they adjusted their strategy over the course of the GDT, they still made significantly more disadvantageous choices than controls. More positive symptoms in patients with schizophrenia indicated by higher PANSS positive scores were associated with riskier choices and less use of negative feedback. Compared to healthy controls, they were not impaired in net score but chose more disadvantageous cards than controls on the first block of the IGT. Effects of medication at the time of testing cannot be ruled out. Our findings suggest that patients with schizophrenia make riskier decisions and are less able to regulate their decision-making to implement advantageous strategies, even when the probabilities of winning or losing are explicitly disclosed. The dissociation between performance on the GDT and IGT suggests a pronounced impairment of executive functions related to the dorsolateral prefrontal cortex. Copyright © 2016 Elsevier Ltd. All rights reserved.

  16. Empathy and Stress Related Neural Responses in Maternal Decision Making

    Directory of Open Access Journals (Sweden)

    S. Shaun Ho

    2014-06-01

    Full Text Available Mothers need to make caregiving decisions to meet the needs of children, which may or may not result in positive child feedback. Variations in caregivers’ emotional reactivity to unpleasant child-feedback may be partially explained by their dispositional empathy levels. Furthermore, empathic response to the child’s unpleasant feedback likely helps mothers to regulate their own stress. We investigated the relationship between maternal dispositional empathy, stress reactivity, and neural correlates of child feedback to caregiving decisions. In Part 1 of the study, 33 female participants were recruited to undergo a lab-based mild stressor, the Social Evaluation Test (SET, and then in Part 2 of the study, a subset of the participants, fourteen mothers, performed a Parenting Decision Making Task (PDMT in an fMRI setting. Four dimensions of dispositional empathy based on the Interpersonal Reactivity Index were measured in all participants – Personal Distress, Empathic Concern, Perspective Taking, and Fantasy. Overall, we found that the Personal Distress and Perspective Taking were associated with greater and lesser cortisol reactivity, respectively. The four types of empathy were distinctly associated with the negative (versus positive child feedback activation in the brain. Personal Distress was associated with amygdala and hypothalamus activation, Empathic Concern with the left ventral striatum, ventrolateral prefrontal cortex (VLPFC, and supplemental motor area (SMA activation, and Fantasy with the septal area, right SMA and VLPFC activation. Interestingly, hypothalamus-septal coupling during the negative feedback condition was associated with less PDMT-related cortisol reactivity. The roles of distinct forms of dispositional empathy in neural and stress responses are discussed.

  17. Risk sharing relations and enforcement mechanisms

    NARCIS (Netherlands)

    Barr, A.; Dekker, M.; Fafchamps, M.

    2008-01-01

    We investigate whether the set of available enforcement mechanisms affects the formation of risk sharing relations by applying dyadic regression analysis to data from a specifically designed behavioural experiment, two surveys and a genealogical mapping exercise. During the experiment participants

  18. Human Immunodeficiency Virus Related Knowledge, Risk ...

    African Journals Online (AJOL)

    There was poor HIV preventive practices; indicating ... Gyawali, et al.: HIV related knowledge, risk perception and practices among married women. Annals of Medical .... of this study correspond to the Indian, Nigerian and Iranian studies cited ...

  19. Roadway related tort liability and risk management.

    Science.gov (United States)

    2010-06-01

    This workbook provide government employees background information related to tort liability and risk management. Past experience with lawsuits against government entities are summarized. The reasons for the lawsuits and results are analyzed. The obje...

  20. Novel flood risk assessment framework for rapid decision making

    Science.gov (United States)

    Valyrakis, Manousos; Koursari, Eftychia; Solley, Mark

    2016-04-01

    The impacts of catastrophic flooding, have significantly increased over the last few decades. This is due to primarily the increased urbanisation in ever-expanding mega-cities as well as due to the intensification both in magnitude and frequency of extreme hydrologic events. Herein a novel conceptual framework is presented that incorporates the use of real-time information to inform and update low dimensionality hydraulic models, to allow for rapid decision making towards preventing loss of life and safeguarding critical infrastructure. In particular, a case study from the recent UK floods in the area of Whitesands (Dumfries), is presented to demonstrate the utility of this approach. It is demonstrated that effectively combining a wealth of readily available qualitative information (such as crowdsourced visual documentation or using live data from sensing techniques), with existing quantitative data, can help appropriately update hydraulic models and reduce modelling uncertainties in future flood risk assessments. This approach is even more useful in cases where hydraulic models are limited, do not exist or were not needed before unpredicted dynamic modifications to the river system took place (for example in the case of reduced or eliminated hydraulic capacity due to blockages). The low computational cost and rapid assessment this framework offers, render it promising for innovating in flood management.

  1. Developmental changes in decision making under risk: The role of executive functions and reasoning abilities in 8- to 19-year-old decision makers.

    Science.gov (United States)

    Schiebener, Johannes; García-Arias, María; García-Villamisar, Domingo; Cabanyes-Truffino, Javier; Brand, Matthias

    2015-01-01

    Previous studies have shown that children and adolescents often tend toward risky decisions despite explicit knowledge about the potential negative consequences. This phenomenon has been suggested to be associated with the immaturity of brain areas involved in cognitive control functions. Particularly, "frontal lobe functions," such as executive functions and reasoning, mature until young adulthood and are thought to be involved in age-related changes in decision making under explicit risk conditions. We investigated 112 participants, aged 8-19 years, with a frequently used task assessing decisions under risk, the Game of Dice Task (GDT). Additionally, we administered the Modified Card Sorting Test assessing executive functioning (categorization, cognitive flexibility, and strategy maintenance) as well as the Ravens Progressive Matrices assessing reasoning. The results showed that risk taking in the GDT decreased with increasing age and this effect was not moderated by reasoning but by executive functions: Particularly, young persons with weak executive functioning showed very risky decision making. Thus, the individual maturation of executive functions, associated with areas in the prefrontal cortex, seems to be an important factor in young peoples' behavior in risky decision-making situations.

  2. Factors associated with confidence in decision making and satisfaction with risk communication among patients with atrial fibrillation.

    Science.gov (United States)

    Hedberg, Berith; Malm, Dan; Karlsson, Jan-Erik; Årestedt, Kristofer; Broström, Anders

    2018-06-01

    Atrial fibrillation is a prevalent cardiac arrhythmia. Effective communication of risks (e.g. stroke risk) and benefits of treatment (e.g. oral anticoagulants) is crucial for the process of shared decision making. The aim of this study was to explore factors associated with confidence in decision making and satisfaction with risk communication after a follow-up visit among patients who three months earlier had visited an emergency room for atrial fibrillation related symptoms. A cross-sectional design was used and 322 patients (34% women), mean age 66.1 years (SD 10.5 years) with atrial fibrillation were included in the south of Sweden. Clinical examinations were done post an atrial fibrillation episode. Self-rating scales for communication (Combined Outcome Measure for Risk Communication and Treatment Decision Making Effectiveness), uncertainty in illness (Mishel Uncertainty in Illness Scale-Community), mastery of daily life (Mastery Scale), depressive symptoms (Hospital Anxiety and Depression Scale) and vitality, physical health and mental health (36-item Short Form Health Survey) were used to collect data. Decreased vitality and mastery of daily life, as well as increased uncertainty in illness, were independently associated with lower confidence in decision making. Absence of hypertension and increased uncertainty in illness were independently associated with lower satisfaction with risk communication. Clinical atrial fibrillation variables or depressive symptoms were not associated with satisfaction with confidence in decision making or satisfaction with risk communication. The final models explained 29.1% and 29.5% of the variance in confidence in decision making and satisfaction with risk communication. Confidence in decision making is associated with decreased vitality and mastery of daily life, as well as increased uncertainty in illness, while absence of hypertension and increased uncertainty in illness are associated with risk communication satisfaction.

  3. Managing wildfire events: risk-based decision making among a group of federal fire managers

    Science.gov (United States)

    Robyn S. Wilson; Patricia L. Winter; Lynn A. Maguire; Timothy. Ascher

    2011-01-01

    Managing wildfire events to achieve multiple management objectives involves a high degree of decision complexity and uncertainty, increasing the likelihood that decisions will be informed by experience-based heuristics triggered by available cues at the time of the decision. The research reported here tests the prevalence of three risk-based biases among 206...

  4. Collection of regulatory texts relative to radiation protection. Part 2: by-laws, decisions, non-codified decrees / Collection of legal and statutory provisions relative to radiation protection. Part 2: by-laws and decisions taken in application of the Public Health Code and Labour Code concerning the protection of populations, patients and workers against the risks of ionizing radiations

    International Nuclear Information System (INIS)

    Rivas, Robert; Feries, Jean; Marzorati, Frank; Chevalier, Celine; Lachaume, Jean-Luc

    2012-01-01

    This second part gathers texts extracted from the Public Health Code and related to ionizing radiations (general measures for the protection of the population, exposure to natural radiations, general regime of authorizations and declarations, purchase, retailing, importation, exportation, transfer and elimination of radioactive sources, protection of persons exposed to ionizing radiations for medical or forensics purposes, situations of radiological emergency and of sustained exposure to ionizing radiations, control), to the safety of waters and food products, and to the control of medical devices, to the protection of patients. It also contains extracts for the Labour Code related to workers protection. This document is an update of the previous version from March 2011

  5. Application of a General Risk Management Model to Portfolio Optimization Problems with Elliptical Distributed Returns for Risk Neutral and Risk Averse Decision Makers

    NARCIS (Netherlands)

    B. Kaynar; S.I. Birbil (Ilker); J.B.G. Frenk (Hans)

    2007-01-01

    textabstractIn this paper portfolio problems with linear loss functions and multivariate elliptical distributed returns are studied. We consider two risk measures, Value-at-Risk and Conditional-Value-at-Risk, and two types of decision makers, risk neutral and risk averse. For Value-at-Risk, we show

  6. Risk taking and adult attention deficit/hyperactivity disorder: A gap between real life behavior and experimental decision making.

    Science.gov (United States)

    Pollak, Yehuda; Shalit, Reut; Aran, Adi

    2018-01-01

    Adults with attention deficit/hyperactivity disorder (ADHD) are prone to suboptimal decision making and risk taking. The aim of this study was to test performance on a theoretically-based probabilistic decision making task in well-characterized adults with and without ADHD, and examine the relation between experimental risk taking and history of real-life risk-taking behavior, defined as cigarette, alcohol, and street drug use. University students with and without ADHD completed a modified version of the Cambridge Gambling Test, in which they had to choose between alternatives varied by level of risk, and reported their history of substance use. Both groups showed similar patterns of risk taking on the experimental decision making task, suggesting that ADHD is not linked to low sensitivity to risk. Past and present substance use was more prevalent in adults with ADHD. These finding question the validity of experimental probabilistic decision making task as a valid model for ADHD-related risk-taking behavior. Copyright © 2017 Elsevier B.V. All rights reserved.

  7. Catastrophic risks and insurance in farm-level decision making

    NARCIS (Netherlands)

    Ogurtsov, V.

    2008-01-01

    Keywords: risk perception, risk attitude, catastrophic risk, insurance, farm characteristics, farmer personal characteristics, utility-efficient programming, arable farming, dairy farming

    Catastrophic risks can cause severe cash flow problems for farmers or even result into their

  8. Durable decision-making is central to the control of risks

    International Nuclear Information System (INIS)

    Zebroski, E.L.

    1990-01-01

    In several capacities the author has promoted the importance of risk analysis techniques as a rational path to the improved assurance of safety. The interest in decisions arose from the persistent observation of only moderate or minor impacts or benefits to practical operations from the availability of wall documented risk analysis studies for many nuclear units. The complexity and number of variables in decisions on matters of safety of large scale operations defies ordinary intuitive decision making. The structured decision process is not a panacea, but is often the practical tool of choise for managing complexity in an orderly way. Typical basic sources for decision techniques are listed in references. (orig.)

  9. Testing for changes in spatial relative risk.

    Science.gov (United States)

    Hazelton, Martin L

    2017-07-30

    The spatial relative risk function is a useful tool for describing geographical variation in disease incidence. We consider the problem of comparing relative risk functions between two time periods, with the idea of detecting alterations in the spatial pattern of disease risk irrespective of whether there has been a change in the overall incidence rate. Using case-control datasets for each period, we use kernel smoothing methods to derive a test statistic based on the difference between the log-relative risk functions, which we term the log-relative risk ratio. For testing a null hypothesis of an unchanging spatial pattern of risk, we show how p-values can be computed using both randomization methods and an asymptotic normal approximation. The methodology is applied to data on campylobacteriosis from 2006 to 2013 in a region of New Zealand. We find clear evidence of a change in the spatial pattern of risk between those years, which can be explained in differences by response to a public health initiative between urban and rural communities. Copyright © 2017 John Wiley & Sons, Ltd. Copyright © 2017 John Wiley & Sons, Ltd.

  10. Frontal, Striatal, and Medial Temporal Sensitivity to Value Distinguishes Risk-Taking from Risk-Aversive Older Adults during Decision Making.

    Science.gov (United States)

    Goh, Joshua O S; Su, Yu-Shiang; Tang, Yong-Jheng; McCarrey, Anna C; Tereshchenko, Alexander; Elkins, Wendy; Resnick, Susan M

    2016-12-07

    Aging compromises the frontal, striatal, and medial temporal areas of the reward system, impeding accurate value representation and feedback processing critical for decision making. However, substantial variability characterizes age-related effects on the brain so that some older individuals evince clear neurocognitive declines whereas others are spared. Moreover, the functional correlates of normative individual differences in older-adult value-based decision making remain unclear. We performed a functional magnetic resonance imaging study in 173 human older adults during a lottery choice task in which costly to more desirable stakes were depicted using low to high expected values (EVs) of points. Across trials that varied in EVs, participants decided to accept or decline the offered stakes to maximize total accumulated points. We found that greater age was associated with less optimal decisions, accepting stakes when losses were likely and declining stakes when gains were likely, and was associated with increased frontal activity for costlier stakes. Critically, risk preferences varied substantially across older adults and neural sensitivity to EVs in the frontal, striatal, and medial temporal areas dissociated risk-aversive from risk-taking individuals. Specifically, risk-averters increased neural responses to increasing EVs as stakes became more desirable, whereas risk-takers increased neural responses with decreasing EV as stakes became more costly. Risk preference also modulated striatal responses during feedback with risk-takers showing more positive responses to gains compared with risk-averters. Our findings highlight the frontal, striatal, and medial temporal areas as key neural loci in which individual differences differentially affect value-based decision-making ability in older adults. Frontal, striatal, and medial temporal functions implicated in value-based decision processing of rewards and costs undergo substantial age-related changes. However, age

  11. Insurance against climate change and flood risk: Insurability and decision processes of insurers

    Science.gov (United States)

    Hung, Hung-Chih; Hung, Jia-Yi

    2016-04-01

    1. Background Major portions of the Asia-Pacific region is facing escalating exposure and vulnerability to climate change and flood-related extremes. This highlights an arduous challenge for public agencies to improve existing risk management strategies. Conventionally, governmental funding was majorly responsible and accountable for disaster loss compensation in the developing countries in Asia, such as Taiwan. This is often criticized as an ineffective and inefficient measure of dealing with flood risk. Flood insurance is one option within the toolkit of risk-sharing arrangement and adaptation strategy to flood risk. However, there are numerous potential barriers for insurance companies to cover flood damage, which would cause the flood risk is regarded as uninsurable. This study thus aims to examine attitudes within the insurers about the viability of flood insurance, the decision-making processes of pricing flood insurance and their determinants, as well as to examine potential solutions to encourage flood insurance. 2. Methods and data Using expected-utility theory, an insurance agent-based decision-making model was developed to examine the insurers' attitudes towards the insurability of flood risk, and to scrutinize the factors that influence their decisions on flood insurance premium-setting. This model particularly focuses on how insurers price insurance when they face either uncertainty or ambiguity about the probability and loss of a particular flood event occurring. This study considers the factors that are expected to affect insures' decisions on underwriting and pricing insurance are their risk perception, attitudes towards flood insurance, governmental measures (e.g., land-use planning, building codes, risk communication), expected probabilities and losses of devastating flooding events, as well as insurance companies' attributes. To elicit insurers' utilities about premium-setting for insurance coverage, the 'certainty equivalent,' 'probability

  12. Like cognitive function, decision making across the life span shows profound age-related changes.

    Science.gov (United States)

    Tymula, Agnieszka; Rosenberg Belmaker, Lior A; Ruderman, Lital; Glimcher, Paul W; Levy, Ifat

    2013-10-15

    It has long been known that human cognitive function improves through young adulthood and then declines across the later life span. Here we examined how decision-making function changes across the life span by measuring risk and ambiguity attitudes in the gain and loss domains, as well as choice consistency, in an urban cohort ranging in age from 12 to 90 y. We identified several important age-related patterns in decision making under uncertainty: First, we found that healthy elders between the ages of 65 and 90 were strikingly inconsistent in their choices compared with younger subjects. Just as elders show profound declines in cognitive function, they also show profound declines in choice rationality compared with their younger peers. Second, we found that the widely documented phenomenon of ambiguity aversion is specific to the gain domain and does not occur in the loss domain, except for a slight effect in older adults. Finally, extending an earlier report by our group, we found that risk attitudes across the life span show an inverted U-shaped function; both elders and adolescents are more risk-averse than their midlife counterparts. Taken together, these characterizations of decision-making function across the life span in this urban cohort strengthen the conclusions of previous reports suggesting a profound impact of aging on cognitive function in this domain.

  13. Critical review of methods for risk ranking of food related hazards, based on risks for human health

    DEFF Research Database (Denmark)

    van der Fels-Klerx, H. J.; van Asselt, E. D.; Raley, M.

    2018-01-01

    This study aimed to critically review methods for ranking risks related to food safety and dietary hazards on the basis of their anticipated human health impacts. A literature review was performed to identify and characterize methods for risk ranking from the fields of food, environmental science......, and the risk ranking method characterized. The methods were then clustered - based on their characteristics - into eleven method categories. These categories included: risk assessment, comparative risk assessment, risk ratio method, scoring method, cost of illness, health adjusted life years, multi......-criteria decision analysis, risk matrix, flow charts/decision trees, stated preference techniques and expert synthesis. Method categories were described by their characteristics, weaknesses and strengths, data resources, and fields of applications. It was concluded there is no single best method for risk ranking...

  14. Restructuring of Values and Probabilities: Psychological Processes in Human Decision Making under Risk

    International Nuclear Information System (INIS)

    Svenson, Ola; Salo, Ilkka

    2001-01-01

    According to Differentiation and Consolidation Theory (Diff Con), the decision maker's representations of values and probabilities are interdependent and changing over time in risky decision making. This is a clear violation of most normative theories of decision making. The present contribution will present Diff Con and provide empirical illustrations of how mental representations of values and probabilities change over time. The paper concludes with a discussion of the implications of these findings concerning expert and lay people decision making about risks and hazards

  15. European Social Work Research Association SIG to Study Decisions, Assessment, and Risk.

    Science.gov (United States)

    Taylor, Brian; Killick, Campbell; Bertotti, Teresa; Enosh, Guy; Gautschi, Joel; Hietamäki, Johanna; Sicora, Alessandro; Whittaker, Andrew

    2018-01-01

    The increasing interest in professional judgement and decision making is often separate from the discourse about "risk," and the time-honored focus on assessment. The need to develop research in and across these topics was recognized in the founding of a Decisions, Assessment, and Risk Special Interest Group (DARSIG) by the European Social Work Research Association in 2014. The Group's interests include cognitive judgements; decision processes with clients, families, other professionals and courts; assessment tools and processes; the assessment, communication, and management of risk; and legal, ethical, and emotional aspects of these. This article outlines the founding and scope of DARSIG; gives an overview of decision making, assessment, and risk for practice; illustrates connections between these; and highlights future research directions. Professional knowledge about decision making, assessment, and risk complements knowledge about effectiveness of interventions. DARSIG promises to be a useful mechanism for the purpose.

  16. Impaired decision making under ambiguity but not under risk in individuals with pathological buying-behavioral and psychophysiological evidence.

    Science.gov (United States)

    Trotzke, Patrick; Starcke, Katrin; Pedersen, Anya; Müller, Astrid; Brand, Matthias

    2015-09-30

    Pathological buying (PB) is described as dysfunctional buying behavior, associated with harmful consequences. It is discussed whether decision-making deficits are related to PB, because affected individuals often choose the short-term rewarding option of buying despite persistent negative long-term consequences. We investigated 30 patients suffering from PB and 30 matched control participants with two different decision-making tasks: the Iowa Gambling Task (IGT) measures decisions under ambiguity and involves emotional feedback processing, whereas the Game of Dice Task (GDT) measures decisions under risk and can be solved strategically. Potential emotional and cognitive correlates of decision making were investigated by assessing skin conductance response (SCR) and executive functioning. In comparison to the control participants, the patients showed more disadvantageous decisions under ambiguity in the IGT. These data were supported by the SCR results: patients failed to generate SCRs that usually occur before disadvantageous decisions. The physiological and behavioral performance on decisions under risk and executive functioning did not differ between groups. Thus, deficits in emotional feedback processing might be one potential factor in etiology and pathogenesis of PB and should be considered in theory and treatment. Copyright © 2015. Published by Elsevier Ireland Ltd.

  17. A Flood Risk Assessment of Quang Nam, Vietnam Using Spatial Multicriteria Decision Analysis

    Directory of Open Access Journals (Sweden)

    Chinh Luu

    2018-04-01

    Full Text Available Vietnam is highly vulnerable to flood and storm impacts. Holistic flood risk assessment maps that adequately consider flood risk factors of hazard, exposure, and vulnerability are not available. These are vital for flood risk preparedness and disaster mitigation measures at the local scale. Unfortunately, there is a lack of knowledge about spatial multicriteria decision analysis and flood risk analysis more broadly in Vietnam. In response to this need, we identify and quantify flood risk components in Quang Nam province through spatial multicriteria decision analysis. The study presents a new approach to local flood risk assessment mapping, which combines historical flood marks with exposure and vulnerability data. The flood risk map output could assist and empower decision-makers in undertaking flood risk management activities in the province. Our study demonstrates a methodology to build flood risk assessment maps using flood mark, exposure and vulnerability data, which could be applied in other provinces in Vietnam.

  18. Group decision making with the analytic hierarchy process in benefit-risk assessment: a tutorial.

    Science.gov (United States)

    Hummel, J Marjan; Bridges, John F P; IJzerman, Maarten J

    2014-01-01

    The analytic hierarchy process (AHP) has been increasingly applied as a technique for multi-criteria decision analysis in healthcare. The AHP can aid decision makers in selecting the most valuable technology for patients, while taking into account multiple, and even conflicting, decision criteria. This tutorial illustrates the procedural steps of the AHP in supporting group decision making about new healthcare technology, including (1) identifying the decision goal, decision criteria, and alternative healthcare technologies to compare, (2) structuring the decision criteria, (3) judging the value of the alternative technologies on each decision criterion, (4) judging the importance of the decision criteria, (5) calculating group judgments, (6) analyzing the inconsistency in judgments, (7) calculating the overall value of the technologies, and (8) conducting sensitivity analyses. The AHP is illustrated via a hypothetical example, adapted from an empirical AHP analysis on the benefits and risks of tissue regeneration to repair small cartilage lesions in the knee.

  19. Risk Taking and Decision Making in Kidney Paired Donation: A Qualitative Study by Semistructured Interviews.

    Science.gov (United States)

    Baines, L S; Dulku, H; Jindal, R M; Papalois, V

    2018-06-01

    Despite excellent outcomes of kidney paired donation (KPD), little is known about how a patient's frame (apply cognitive bias) or weight (attribute value) and concerns relating to risk, justice, and equity affect his or her decision-making process. A pilot study consisting of 3 KPD transplant recipients and 3 KPD kidney donors in the last year was conducted to identify and explore themes in decision making and risk taking. The pilot study was followed by the main study comprised of 20 recipients who had already undergone KPD transplantation and 20 donors who had undergone donor nephrectomy. We conducted semistructured interviews in this cohort and analyzed the data thematically. Each donor-recipient pair was interviewed together to facilitate dyadic conversation and provide deeper insight into the decision-making process leading to transplant and donation. Common themes to both recipient and donor decision making included quality of life; characteristics of the unknown donor and post-transplant expectations. Recipient-specific themes included failure to reach life span milestones, experiences of fellow patients, and altruistic desire to expand the donor pool. Donor-specific themes included balancing existing life commitments with the recipient's need for a kidney, equity and mental accounting in kidney exchange (comparable quality of the kidney received versus the kidney donated), and logistical justice for the recipient. Donors and recipients frame and weight the concepts of risk, justice, and equity differently. This may have direct implications to facilitating patient-centered communication and engagement in KPD pairs. Copyright © 2018 Elsevier Inc. All rights reserved.

  20. Overcoming Fear: Helping Decision Makers Understand Risk in Outdoor Education

    Science.gov (United States)

    Haras, Kathy

    2010-01-01

    The long history of outdoor education does little to alleviate the fears of many parents, teachers, principals and superintendents who believe that outdoor education is too risky. These decision makers often lack both the knowledge to make informed decisions and the time and resources to investigate their assumptions. Pair these circumstances with…

  1. Risk preferences in strategic wildfire decision making: A choice experiment with U.S. wildfire managers

    Science.gov (United States)

    Matthew J. Wibbenmeyer; Michael S. Hand; David E. Calkin; Tyron J. Venn; Matthew P. Thompson

    2013-01-01

    Federal policy has embraced risk management as an appropriate paradigm for wildfire management. Economic theory suggests that over repeated wildfire events, potential economic costs and risks of ecological damage are optimally balanced when management decisions are free from biases, risk aversion, and risk seeking. Of primary concern in this article is how managers...

  2. A risk-based model for maintenance decision support of civil structures using RAMS

    NARCIS (Netherlands)

    Viana Da Rocha, T. C.; Stipanovic, I.; Hartmann, A.; Bakker, J.

    2017-01-01

    As a cornerstone of transportation asset management, risk-based approaches have been used to support maintenance decisions of civil structures. However, ambiguous and subjective risk criteria and inconsistency on the use of risk-based approaches can lead to a fuzzy understanding of the risks

  3. Suboptimal decision making by children with ADHD in the face of risk: Poor risk adjustment and delay aversion rather than general proneness to taking risks.

    Science.gov (United States)

    Sørensen, Lin; Sonuga-Barke, Edmund; Eichele, Heike; van Wageningen, Heidi; Wollschlaeger, Daniel; Plessen, Kerstin Jessica

    2017-02-01

    Suboptimal decision making in the face of risk (DMR) in children with attention-deficit hyperactivity disorder (ADHD) may be mediated by deficits in a number of different neuropsychological processes. We investigated DMR in children with ADHD using the Cambridge Gambling Task (CGT) to distinguish difficulties in adjusting to changing probabilities of choice outcomes (so-called risk adjustment) from general risk proneness, and to distinguish these 2 processes from delay aversion (the tendency to choose the least delayed option) and impairments in the ability to reflect on choice options. Based on previous research, we predicted that suboptimal performance on this task in children with ADHD would be primarily relate to problems with risk adjustment and delay aversion rather than general risk proneness. Drug naïve children with ADHD (n = 36), 8 to 12 years, and an age-matched group of typically developing children (n = 34) performed the CGT. As predicted, children with ADHD were not more prone to making risky choices (i.e., risk proneness). However, they had difficulty adjusting to changing risk levels and were more delay aversive-with these 2 effects being correlated. Our findings add to the growing body of evidence that children with ADHD do not favor risk taking per se when performing gambling tasks, but rather may lack the cognitive skills or motivational style to appraise changing patterns of risk effectively. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

  4. Perceptions of risk, risk aversion, and barriers to adoption of decision support systems and integrated pest management: an introduction.

    Science.gov (United States)

    Gent, David H; De Wolf, Erick; Pethybridge, Sarah J

    2011-06-01

    Rational management of plant diseases, both economically and environmentally, involves assessing risks and the costs associated with both correct and incorrect tactical management decisions to determine when control measures are warranted. Decision support systems can help to inform users of plant disease risk and thus assist in accurately targeting events critical for management. However, in many instances adoption of these systems for use in routine disease management has been perceived as slow. The under-utilization of some decision support systems is likely due to both technical and perception constraints that have not been addressed adequately during development and implementation phases. Growers' perceptions of risk and their aversion to these perceived risks can be reasons for the "slow" uptake of decision support systems and, more broadly, integrated pest management (IPM). Decision theory provides some tools that may assist in quantifying and incorporating subjective and/or measured probabilities of disease occurrence or crop loss into decision support systems. Incorporation of subjective probabilities into IPM recommendations may be one means to reduce grower uncertainty and improve trust of these systems because management recommendations could be explicitly informed by growers' perceptions of risk and economic utility. Ultimately though, we suggest that an appropriate measure of the value and impact of decision support systems is grower education that enables more skillful and informed management decisions independent of consultation of the support tool outputs.

  5. Women's Drinking Decisions in Heterosocial Situations: Development and Validation of Scenarios to Assess Influence of Attraction and Risk-Awareness.

    Science.gov (United States)

    Noel, Nora E; Ogle, Richard L; Maisto, Stephen A; Jackson, Lee A; Loomis, Randi B; Heaton, Jennifer A

    2016-07-01

    These three related studies created a set of ecologically valid scenarios for assessing relative associations of both attraction and sexual coercion risk-recognition in college women's heterosocial situational drinking decisions. The first study constructed nine scenarios using input from heterosexual drinking women in the age cohort (18-30) most likely to experience alcohol-related sexual coercion. In the second study, 50 female undergraduates (ages 18-25) assessed the salience of three important dimensions (attraction, risk, and realism) in these scenarios. The third study was a factor analysis (and a follow-up confirmatory factor analysis) of the elements of coercion-risk as perceived by the target group with two female samples recruited 1 year apart (Sample 1: N = 157, ages 18-29); Sample 2: N = 157, ages 18-30). Results confirmed that the scenarios could be a useful vehicle for assessing how women balance out risk and attraction to make in-the moment heterosocial drinking decisions. The factor analysis showed participants perceived two types of situations, based on whether the male character was "Familiar" or "Just Met" and perceived themselves as happier and more excited with Familiar males. However, in contrast to HIV risk studies, Familiar males were perceived as higher risk for unwanted sex. Future research will use the six scenarios that emerged from the factor analysis to study how attraction and risk perception differentially affect young adult women's social drinking decisions.

  6. Absolutely relative or relatively absolute: violations of value invariance in human decision making.

    Science.gov (United States)

    Teodorescu, Andrei R; Moran, Rani; Usher, Marius

    2016-02-01

    Making decisions based on relative rather than absolute information processing is tied to choice optimality via the accumulation of evidence differences and to canonical neural processing via accumulation of evidence ratios. These theoretical frameworks predict invariance of decision latencies to absolute intensities that maintain differences and ratios, respectively. While information about the absolute values of the choice alternatives is not necessary for choosing the best alternative, it may nevertheless hold valuable information about the context of the decision. To test the sensitivity of human decision making to absolute values, we manipulated the intensities of brightness stimuli pairs while preserving either their differences or their ratios. Although asked to choose the brighter alternative relative to the other, participants responded faster to higher absolute values. Thus, our results provide empirical evidence for human sensitivity to task irrelevant absolute values indicating a hard-wired mechanism that precedes executive control. Computational investigations of several modelling architectures reveal two alternative accounts for this phenomenon, which combine absolute and relative processing. One account involves accumulation of differences with activation dependent processing noise and the other emerges from accumulation of absolute values subject to the temporal dynamics of lateral inhibition. The potential adaptive role of such choice mechanisms is discussed.

  7. The Influence of Institutional Decision Making Mechanism in Russia on the Relations with the European Union

    Directory of Open Access Journals (Sweden)

    Nikita Chernyshev

    2014-05-01

    Full Text Available This article examines the influence of internal factors (such as decision-making processes, political culture, and the connection between government and society on Russia’s foreign policy toward the European Union in the context of neoclassical realism. Excessive personalization and a closed decision-making structure do not encourage effective reactions to emerging challenges and affect the possibility of cooperation in the post-Soviet space. Institutional mechanisms and their impact on a country’s foreign policy are extremely important in the theory of neoclassical realism. This article also analyses EU-Russia relations over major periods and the role of internal factors in Russian policy. Despite an orientation toward long-term cooperation between the EU and Russia, a contradiction remains between Russia’s over-centralized decision-making structure and the EU’s decentralized system. In addition, political leaders and elites play less of a role in the EU, where there is a real separation of powers and competencies. These factors hamper EU-Russia cooperation because Russia prefers to establish bilateral relations with each state. As a result of all these factors, long-term relations may be at risk. However, the decentralization of power, increased efficiency of political institutions and the active participation of civil society will improve the level of mutual trust and overcome the current issues in EU-Russia relations.

  8. Decision-making interventions to stop the global atrial fibrillation-related stroke tsunami.

    Science.gov (United States)

    Cerasuolo, Joshua O; Montero-Odasso, Manuel; Ibañez, Agustin; Doocy, Shannon; Lip, Gregory Yh; Sposato, Luciano A

    2017-04-01

    Atrial fibrillation affects 33.5 million people worldwide and its prevalence is expected to double by 2050 because of the aging population. Atrial fibrillation confers a 5-fold higher risk of ischemic stroke compared to sinus rhythm. We present our view of the role of shared medical decision-making to combat global underutilization of oral anticoagulation for stroke prevention in atrial fibrillation patients. Oral anticoagulation underuse is widespread as it is present within atrial fibrillation patients of all risk strata and in countries across all income levels. Reasons for oral anticoagulation underuse include but are probably not limited to poor risk stratification, over-interpretation of contraindications, and discordance between physician prescription preferences and actual administration. By comparing a catastrophic event to the consequences of atrial fibrillation related strokes, it may help physicians and patients understand the negative outcomes associated with oral anticoagulation under-utilization and the magnitude to which oral anticoagulations neutralize atrial fibrillation burden.

  9. Sensitivity and bias in decision-making under risk: evaluating the perception of reward, its probability and value.

    Directory of Open Access Journals (Sweden)

    Madeleine E Sharp

    Full Text Available BACKGROUND: There are few clinical tools that assess decision-making under risk. Tests that characterize sensitivity and bias in decisions between prospects varying in magnitude and probability of gain may provide insights in conditions with anomalous reward-related behaviour. OBJECTIVE: We designed a simple test of how subjects integrate information about the magnitude and the probability of reward, which can determine discriminative thresholds and choice bias in decisions under risk. DESIGN/METHODS: Twenty subjects were required to choose between two explicitly described prospects, one with higher probability but lower magnitude of reward than the other, with the difference in expected value between the two prospects varying from 3 to 23%. RESULTS: Subjects showed a mean threshold sensitivity of 43% difference in expected value. Regarding choice bias, there was a 'risk premium' of 38%, indicating a tendency to choose higher probability over higher reward. An analysis using prospect theory showed that this risk premium is the predicted outcome of hypothesized non-linearities in the subjective perception of reward value and probability. CONCLUSIONS: This simple test provides a robust measure of discriminative value thresholds and biases in decisions under risk. Prospect theory can also make predictions about decisions when subjective perception of reward or probability is anomalous, as may occur in populations with dopaminergic or striatal dysfunction, such as Parkinson's disease and schizophrenia.

  10. Sensitivity and Bias in Decision-Making under Risk: Evaluating the Perception of Reward, Its Probability and Value

    Science.gov (United States)

    Sharp, Madeleine E.; Viswanathan, Jayalakshmi; Lanyon, Linda J.; Barton, Jason J. S.

    2012-01-01

    Background There are few clinical tools that assess decision-making under risk. Tests that characterize sensitivity and bias in decisions between prospects varying in magnitude and probability of gain may provide insights in conditions with anomalous reward-related behaviour. Objective We designed a simple test of how subjects integrate information about the magnitude and the probability of reward, which can determine discriminative thresholds and choice bias in decisions under risk. Design/Methods Twenty subjects were required to choose between two explicitly described prospects, one with higher probability but lower magnitude of reward than the other, with the difference in expected value between the two prospects varying from 3 to 23%. Results Subjects showed a mean threshold sensitivity of 43% difference in expected value. Regarding choice bias, there was a ‘risk premium’ of 38%, indicating a tendency to choose higher probability over higher reward. An analysis using prospect theory showed that this risk premium is the predicted outcome of hypothesized non-linearities in the subjective perception of reward value and probability. Conclusions This simple test provides a robust measure of discriminative value thresholds and biases in decisions under risk. Prospect theory can also make predictions about decisions when subjective perception of reward or probability is anomalous, as may occur in populations with dopaminergic or striatal dysfunction, such as Parkinson's disease and schizophrenia. PMID:22493669

  11. Who are the stakeholders in environmental risk decisions?

    International Nuclear Information System (INIS)

    English, M.R.

    2000-01-01

    In this talk, I discuss the concept of 'stakeholder involvement' in environmental decisions, including but not limited to radioactive waste management decisions. As a prelude, I mention ways in which public participation opportunities have been expanded but still remain deficient in two key respects. These deficiencies have opened the door for stakeholder involvement. Stakeholder involvement has, over the past decade, been touted as an approach (perhaps the approach) to more egalitarian, interactive environmental decisions that take into account different interests and perspectives. After mentioning two key dimensions of environmental decisions - their spatial and temporal reach - I consider the extent to which different types of stakeholders can and should be centrally involved in various decisions. I conclude with a plea for the need to down-play the notion of 'stakeholders', especially on decisions whose impacts will extend far across space and time. Instead, especially on such decisions, we need to cultivate the notion of our shared responsibility to serve as trustees, putting aside our vested interests and deliberating together iteratively on the best ways to achieve the long-term common good. (author)

  12. Identification of Crew-Systems Interactions and Decision Related Trends

    Science.gov (United States)

    Jones, Sharon Monica; Evans, Joni K.; Reveley, Mary S.; Withrow, Colleen A.; Ancel, Ersin; Barr, Lawrence

    2013-01-01

    NASA Vehicle System Safety Technology (VSST) project management uses systems analysis to identify key issues and maintain a portfolio of research leading to potential solutions to its three identified technical challenges. Statistical data and published safety priority lists from academic, industry and other government agencies were reviewed and analyzed by NASA Aviation Safety Program (AvSP) systems analysis personnel to identify issues and future research needs related to one of VSST's technical challenges, Crew Decision Making (CDM). The data examined in the study were obtained from the National Transportation Safety Board (NTSB) Aviation Accident and Incident Data System, Federal Aviation Administration (FAA) Accident/Incident Data System and the NASA Aviation Safety Reporting System (ASRS). In addition, this report contains the results of a review of safety priority lists, information databases and other documented references pertaining to aviation crew systems issues and future research needs. The specific sources examined were: Commercial Aviation Safety Team (CAST) Safety Enhancements Reserved for Future Implementation (SERFIs), Flight Deck Automation Issues (FDAI) and NTSB Most Wanted List and Open Recommendations. Various automation issues taxonomies and priority lists pertaining to human factors, automation and flight design were combined to create a list of automation issues related to CDM.

  13. Selecting a risk-based tool to aid in decision making

    Energy Technology Data Exchange (ETDEWEB)

    Bendure, A.O.

    1995-03-01

    Selecting a risk-based tool to aid in decision making is as much of a challenge as properly using the tool once it has been selected. Failure to consider customer and stakeholder requirements and the technical bases and differences in risk-based decision making tools will produce confounding and/or politically unacceptable results when the tool is used. Selecting a risk-based decisionmaking tool must therefore be undertaken with the same, if not greater, rigor than the use of the tool once it is selected. This paper presents a process for selecting a risk-based tool appropriate to a set of prioritization or resource allocation tasks, discusses the results of applying the process to four risk-based decision-making tools, and identifies the ``musts`` for successful selection and implementation of a risk-based tool to aid in decision making.

  14. Research on the robust optimization of the enterprise's decision on the investment to the collaborative innovation: Under the risk constraints

    International Nuclear Information System (INIS)

    Zhou, Qing; Fang, Gang; Wang, Dong-peng; Yang, Wei

    2016-01-01

    Abstracts: The robust optimization model is applied to analyze the enterprise's decision of the investment portfolio for the collaborative innovation under the risk constraints. Through the mathematical model deduction and the simulation analysis, the research result shows that the enterprise's investment to the collaborative innovation has relatively obvious robust effect. As for the collaborative innovation, the return from the investment coexists with the risk of it. Under the risk constraints, the robust optimization method could solve the minimum risk as well as the proportion of each investment scheme in the portfolio on the condition of different target returns from the investment. On the basis of the result, the enterprise could balance between the investment return and risk and make optimal decision on the investment scheme.

  15. Ethical challenges related to elder care. High level decision-makers' experiences

    Directory of Open Access Journals (Sweden)

    Kihlgren Mona

    2007-04-01

    Full Text Available Abstract Background Few empirical studies have been found that explore ethical challenges among persons in high public positions that are responsible for elder care. The aim of this paper was to illuminate the meaning of being in ethically difficult situations related to elder care as experienced by high level decision-makers. Methods A phenomenological-hermeneutic method was used to analyse the eighteen interviews conducted with political and civil servant high level decision-makers at the municipality and county council level from two counties in Sweden. The participants worked at a planning and control as well as executive level and had both budget and quality of elder care responsibilities. Results Both ethical dilemmas and the meaning of being in ethically difficult situations related to elder care were revealed. No differences were seen between the politicians and the civil servants. The ethical dilemmas mostly concerned dealings with extensive care needs and working with a limited budget. The dilemmas were associated with a lack of good care and a lack of agreement concerning care such as vulnerable patients in inappropriate care settings, weaknesses in medical support, dissimilar focuses between the caring systems, justness in the distribution of care and deficient information. Being in ethically difficult situations was challenging. Associated with them were experiences of being exposed, having to be strategic and living with feelings such as aloneness and loneliness, uncertainty, lack of confirmation, the risk of being threatened or becoming a scapegoat and difficult decision avoidance. Conclusion Our paper provides further insight into the ethical dilemmas and ethical challenges met by high level decision-makers', which is important since the overall responsibility for elder care that is also ethically defensible rests with them. They have power and their decisions affect many stakeholders in elder care. Our results can be used to

  16. Ethical challenges related to elder care. High level decision-makers' experiences.

    Science.gov (United States)

    Mamhidir, Anna-Greta; Kihlgren, Mona; Sorlie, Venke

    2007-04-10

    Few empirical studies have been found that explore ethical challenges among persons in high public positions that are responsible for elder care. The aim of this paper was to illuminate the meaning of being in ethically difficult situations related to elder care as experienced by high level decision-makers. A phenomenological-hermeneutic method was used to analyse the eighteen interviews conducted with political and civil servant high level decision-makers at the municipality and county council level from two counties in Sweden. The participants worked at a planning and control as well as executive level and had both budget and quality of elder care responsibilities. Both ethical dilemmas and the meaning of being in ethically difficult situations related to elder care were revealed. No differences were seen between the politicians and the civil servants. The ethical dilemmas mostly concerned dealings with extensive care needs and working with a limited budget. The dilemmas were associated with a lack of good care and a lack of agreement concerning care such as vulnerable patients in inappropriate care settings, weaknesses in medical support, dissimilar focuses between the caring systems, justness in the distribution of care and deficient information. Being in ethically difficult situations was challenging. Associated with them were experiences of being exposed, having to be strategic and living with feelings such as aloneness and loneliness, uncertainty, lack of confirmation, the risk of being threatened or becoming a scapegoat and difficult decision avoidance. Our paper provides further insight into the ethical dilemmas and ethical challenges met by high level decision-makers', which is important since the overall responsibility for elder care that is also ethically defensible rests with them. They have power and their decisions affect many stakeholders in elder care. Our results can be used to stimulate discussions between high level decision-makers and health

  17. Risk regulation in environment, health and safety : Decision in the face of uncertainty

    Energy Technology Data Exchange (ETDEWEB)

    Ettlinger, L A [The Oxford Group, Baltimore, MD (United States)

    1999-12-01

    unlikely to be resolved solely by administrative reform, reliance on experts, or risk education because, generally, these reforms are focused strictly on narrowing the risk uncertainty. From economic principles, however, we recognize that the value of efforts to minimize this risk uncertainty (or to maximize the technical and scientific information about risks) is subject to 'diminishing marginal utility'. Thus, these efforts ultimately can be expected to become unpopular with both citizens and elected officials. We expect, therefore, that the outcome of the risk regulation debate, and ultimately environment, health and safety policy decisions, will primarily be determined by the values of the proponents and opponents as to the relative ranking of efficiency and equity. Most likely, the best means available for reforming risk regulation and making it more coherent and to avoid some of the costly mistakes of the past is to: 1. increase the resources available for identifying risks and effective responses to them, 2. build in mechanisms for informing the public that policy decisions using these regulations are value laden, and 3. publicize both the process and the outcomes of risk regulations and policy decisions.

  18. Risk regulation in environment, health and safety : Decision in the face of uncertainty

    Energy Technology Data Exchange (ETDEWEB)

    Ettlinger, L.A. [The Oxford Group, Baltimore, MD (United States)

    1999-12-01

    relationship are unlikely to be resolved solely by administrative reform, reliance on experts, or risk education because, generally, these reforms are focused strictly on narrowing the risk uncertainty. From economic principles, however, we recognize that the value of efforts to minimize this risk uncertainty (or to maximize the technical and scientific information about risks) is subject to 'diminishing marginal utility'. Thus, these efforts ultimately can be expected to become unpopular with both citizens and elected officials. We expect, therefore, that the outcome of the risk regulation debate, and ultimately environment, health and safety policy decisions, will primarily be determined by the values of the proponents and opponents as to the relative ranking of efficiency and equity. Most likely, the best means available for reforming risk regulation and making it more coherent and to avoid some of the costly mistakes of the past is to: 1. increase the resources available for identifying risks and effective responses to them, 2. build in mechanisms for informing the public that policy decisions using these regulations are value laden, and 3. publicize both the process and the outcomes of risk regulations and policy decisions.

  19. Risk regulation in environment, health and safety : Decision in the face of uncertainty

    International Nuclear Information System (INIS)

    Ettlinger, L.A.

    1999-01-01

    unlikely to be resolved solely by administrative reform, reliance on experts, or risk education because, generally, these reforms are focused strictly on narrowing the risk uncertainty. From economic principles, however, we recognize that the value of efforts to minimize this risk uncertainty (or to maximize the technical and scientific information about risks) is subject to 'diminishing marginal utility'. Thus, these efforts ultimately can be expected to become unpopular with both citizens and elected officials. We expect, therefore, that the outcome of the risk regulation debate, and ultimately environment, health and safety policy decisions, will primarily be determined by the values of the proponents and opponents as to the relative ranking of efficiency and equity. Most likely, the best means available for reforming risk regulation and making it more coherent and to avoid some of the costly mistakes of the past is to: 1. increase the resources available for identifying risks and effective responses to them, 2. build in mechanisms for informing the public that policy decisions using these regulations are value laden, and 3. publicize both the process and the outcomes of risk regulations and policy decisions

  20. Risk communication and decision-making in the prevention of invasive breast cancer.

    Science.gov (United States)

    Partridge, Ann H

    2017-08-01

    Risk communication surrounding the prevention of invasive breast cancer entails not only understanding of the disease, risks and opportunities for intervention. But it also requires understanding and implementation of optimal strategies for communication with patients who are making these decisions. In this article, available evidence for the issues surrounding risk communication and decision making in the prevention of invasive breast cancer are reviewed and strategies for improvement are discussed. Copyright © 2017 Elsevier Ltd. All rights reserved.

  1. Decision Making and Risk Management in Adventure Sports Coaching

    Science.gov (United States)

    Collins, Loel; Collins, Dave

    2013-01-01

    Adventure sport coaches practice in environments that are dynamic and high in risk, both perceived and actual. The inherent risks associated with these activities, individuals' responses and the optimal exploitation of both combine to make the processes of risk management more complex and hazardous than the traditional sports where risk management…

  2. Anticipatory stress influences decision making under explicit risk conditions.

    Science.gov (United States)

    Starcke, Katrin; Wolf, Oliver T; Markowitsch, Hans J; Brand, Matthias

    2008-12-01

    Recent research has suggested that stress may affect memory, executive functioning, and decision making on the basis of emotional feedback processing. The current study examined whether anticipatory stress affects decision making measured with the Game of Dice Task (GDT), a decision-making task with explicit and stable rules that taps both executive functioning and feedback learning. The authors induced stress in 20 participants by having them anticipate giving a public speech and also examined 20 comparison subjects. The authors assessed the level of stress with questionnaires and endocrine markers (salivary cortisol and alpha-amylase), both revealing that speech anticipation led to increased stress. Results of the GDT showed that participants under stress scored significantly lower than the comparison group and that GDT performance was negatively correlated with the increase of cortisol. Our results indicate that stress can lead to disadvantageous decision making even when explicit and stable information about outcome contingencies is provided.

  3. Technological risk: The limits of science in decision-making

    International Nuclear Information System (INIS)

    Smith, D.; Elliott, P.

    1991-01-01

    The purpose of this paper is to explore the relationship between science and decision making yb reference to a series of debates in South Wales centring around a high-temperature icineration plant operated by Rechem

  4. Risk Analysis: Its Application to Argumentation and Decision-Making.

    Science.gov (United States)

    Follert, Vincent

    1981-01-01

    Notes that utility theory has enjoyed renewed interest among debate critics and other decision makers. Some of the problems with its application are identified and guidelines for debaters are suggested. (PD)

  5. A mixed methods thematic review: Health-related decision-making by the older person.

    Science.gov (United States)

    King, Lindy; Harrington, Ann; Linedale, Ecushla; Tanner, Elizabeth

    2018-04-01

    To undertake a mixed methods thematic literature review that explored how elderly adults approached decision-making in regard to their health care following discharge. A critical time for appropriate health decisions occurs during hospital discharge planning with nursing staff. However, little is known how the 89% of elderly living at home make decisions regarding their health care. Research into older adults' management of chronic conditions emerges as an important step to potentially encourage symptom monitoring, prevent missed care and detect deterioration. All should reduce the risk of hospital re-admission. A mixed methods thematic literature review was undertaken. The structure followed the PRISMA reporting guidelines for systematic reviews recommended by the EQUATOR network. PubMed, Cumulative Index to Nursing and Allied Health Literature (CINAHL) and Scopus online databases were searched using keywords, inclusion and exclusion criteria. References drawn from relevant publications, identified by experts and published between 1995 and 2017 were also considered. Twenty-five qualitative, quantitative and mixed methods studies and reviews were critically appraised (CASP 2013) before inclusion in the review. Analysis of each study's findings was undertaken using Braun and Clarke's (2006) steps to identify major themes and sub-themes. Four main themes associated with health-related decision-making in the elderly were identified: "the importance of maintaining independence," "decision making style," "management of conditions at home" and "discharge planning." Health care decision preferences in the elderly emerged as highly complex and influenced by multiple factors. Development of a tool to assess these components has been recommended. Nurses play a vital role in exploring and understanding the influence that maintaining independence has with each patient. This understanding provides an initial step toward development of a tool to assist collaboration between

  6. A decision making framework for risk-informed technical specifications

    International Nuclear Information System (INIS)

    Kim, B. S.; Kim, I. S.; Seo, M. S.; Sung, G. Y.

    2001-01-01

    The RITS literature survey on regulatory requirements and current TS research status in Korea as well as in foreign countries has been performed. Based on this survey, the RITS decision-making framework for the licensee and regulator point-of-view, respectively, is introduced in this paper. The required documents for the licensee to prepare are suggested in a systematic approach; the decision-making process of regulators for evaluating the documents is recommended

  7. A decision support system for corporations cyber security risk management

    OpenAIRE

    Molina, Gabriela del Rocio Roldan

    2017-01-01

    This thesis presents a decision aiding system named C3-SEC (Contex-aware Corporative Cyber Security), developed in the context of a master program at Polytechnic Institute of Leiria, Portugal. The research dimension and the corresponding software development process that followed are presented and validated with an application scenario and case study performed at Universidad de las Fuerzas Armadas ESPE – Ecuador. C3-SEC is a decision aiding software intended to support cyber ri...

  8. Game Relativity: How Context Influences Strategic Decision Making

    Science.gov (United States)

    Vlaev, Ivo; Chater, Nick

    2006-01-01

    Existing models of strategic decision making typically assume that only the attributes of the currently played game need be considered when reaching a decision. The results presented in this article demonstrate that the so-called "cooperativeness" of the previously played prisoner's dilemma games influence choices and predictions in the current…

  9. Perceptions of risk, risk aversion, and barriers to adoption of decision support systems and integrated pest management: An introduction

    Science.gov (United States)

    Rational management of plant diseases, both economically and environmentally, involves assessing risks and the costs associated with both correct and incorrect management decisions to determine when control measures are warranted. Decision support systems can help to inform users of plant disease r...

  10. Risk management in facility transition and management decision making: Needs and opportunities

    International Nuclear Information System (INIS)

    Stillwell, W.; Seaver, D.; Keller, J.; Smith, D.; Weaver, D.; Sanders, T.; Thullen, P.

    1993-02-01

    An overall approach to risk management is described in this paper. Many of these concepts have been developed and applied as part of Hanford Mission Planning (HMP) (Hanford Mission Plan, 1992). At Hanford, HMP provides a mechanism for integrating planning across all the missions and programs of the site. This paper discusses the decision context within which EM must make and defend decisions, the types of decisions that are being and will need to be made in order to progress with the cleanup of the DOE complex, and the resulting need for risk management. Risk management, in turn, requires quality health and ecological risk information to make these decisions. Other types of information are also needed, but the risk information is typically the most important and the most difficult to obtain. The paper then describes a general technical approach to risk management, including particular methods for developing the high quality of human health and ecological risk information that will be needed to support risk management. We next turn to several special issues that make risk management more complex than many other decisions. We discuss these issues and offer some practical suggestions with respect to addressing them in the risk management framework. Finally, we conclude with some discussion of other opportunities for applying risk management

  11. Emotional and Personality-Related Aspects of Persistent Career Decision-Making Difficulties

    Science.gov (United States)

    Saka, Noa; Gati, Itamar

    2007-01-01

    This study focused on examining the persistent aspects of career decision-making difficulties, using the Emotional and Personality-related Career decision-making Difficulties scale ("EPCD"; [Saka, N., Gati, I., & Kelly, K.R. (in press). Emotional and personality-related aspects of career decision-making difficulties. "Journal of Career…

  12. Multi Criteria Evaluation Module for RiskChanges Spatial Decision Support System

    Science.gov (United States)

    Olyazadeh, Roya; Jaboyedoff, Michel; van Westen, Cees; Bakker, Wim

    2015-04-01

    Multi-Criteria Evaluation (MCE) module is one of the five modules of RiskChanges spatial decision support system. RiskChanges web-based platform aims to analyze changes in hydro-meteorological risk and provides tools for selecting the best risk reduction alternative. It is developed under CHANGES framework (changes-itn.eu) and INCREO project (increo-fp7.eu). MCE tool helps decision makers and spatial planners to evaluate, sort and rank the decision alternatives. The users can choose among different indicators that are defined within the system using Risk and Cost Benefit analysis results besides they can add their own indicators. Subsequently the system standardizes and prioritizes them. Finally, the best decision alternative is selected by using the weighted sum model (WSM). The Application of this work is to facilitate the effect of MCE for analyzing changing risk over the time under different scenarios and future years by adopting a group decision making into practice and comparing the results by numeric and graphical view within the system. We believe that this study helps decision-makers to achieve the best solution by expressing their preferences for strategies under future scenarios. Keywords: Multi-Criteria Evaluation, Spatial Decision Support System, Weighted Sum Model, Natural Hazard Risk Management

  13. Gender relations and reproductive decision making in Honduras.

    Science.gov (United States)

    Speizer, Ilene S; Whittle, Lisa; Carter, Marion

    2005-09-01

    Gender differences influence decision making about reproductive health. Most information on reproductive health decision making in Latin America has come from women's reports of men's involvement. Data were collected in Honduras in 2001 through two national surveys that used independent samples of men aged 15-59 years and women aged 15-49. Bivariate and multivariate analyses were used to identify factors associated with male-centered decision-making attitudes and behaviors regarding family size and family planning use. Overall, 25% of women and 28% of men said that men alone should be responsible for at least one of these reproductive decisions, and 27% of women and 21% of men said that the man in their household made one or both decisions. For women, having no children and being in a consensual union were each associated with holding male-centered decision-making attitudes; having less than a secondary education, being of medium or low socioeconomic status and living in a rural area were each associated with male-centered decision making. Among men, having less than secondary education and being in a consensual union were each associated with male-centered decision-making attitudes and behavior. Women who had ever used or were currently using modern methods were significantly less likely to hold attitudes supporting male-centered decision-making than were those who relied on traditional methods and those who had never used a modern method. Programs should recognize power imbalances between genders that affect women's ability to meet their stated fertility desires. In rural areas, programs should target men, encouraging them to communicate with their wives on reproductive decisions.

  14. Decreased modulation by the risk level on the brain activation during decision making in adolescents with internet gaming disorder

    Directory of Open Access Journals (Sweden)

    Xin eQi

    2015-11-01

    Full Text Available Greater impulse and risk-taking and reduced decision-making ability were reported as the main behavioral impairments in individuals with Internet gaming disorder (IGD, which has become a serious mental health issue worldwide. However, it is not clear to date how the risk level modulates brain activity during the decision-making process in IGD individuals. In this study, 23 adolescents with IGD and 24 healthy controls (HCs without IGD were recruited, and the Balloon Analog Risk Task (BART was used in a functional magnetic resonance imaging (fMRI experiment to evaluate the modulation of the risk level (the probability of balloon explosion on brain activity during risky decisionmaking in IGD adolescents. Reduced modulation of the risk level on the activation of the right dorsolateral prefrontal cortex (DLPFC during the active BART was found in IGD group compared to the HCs. In the IGD group, there was a significant negative correlation between the risk-related DLPFC activation during the active BART and the Barratt impulsivity scale (BIS-11 scores, which were significantly higher in IGD group compared with the HCs. Our study demonstrated that, as a critical decision-making-related brain region, the right DLPFC is less sensitive to risk in IGD adolescents compared with the HCs, which may contribute to the higher impulsivity level in IGD adolescents.

  15. Promoting energy efficiency investments with risk management decision tools

    International Nuclear Information System (INIS)

    Jackson, Jerry

    2010-01-01

    This paper reviews current capital budgeting practices and their impact on energy efficiency investments. The prevalent use of short payback 'rule-of-thumb' requirements to screen efficiency projects for risk is shown to bias investment choices towards 'sure bet' investments bypassing many profitable efficiency investment options. A risk management investment strategy is presented as an alternative to risk avoidance practices applied with payback thresholds. The financial industry risk management tool Value-at-Risk is described and extended to provide an Energy-Budgets-at-Risk or EBaR risk management analysis to convey more accurate energy efficiency investment risk information. The paper concludes with recommendations to expand the use of Value-at-Risk-type energy efficiency analysis.

  16. To kill a kangaroo: understanding the decision to pursue high-risk/high-gain resources.

    Science.gov (United States)

    Jones, James Holland; Bird, Rebecca Bliege; Bird, Douglas W

    2013-09-22

    In this paper, we attempt to understand hunter-gatherer foraging decisions about prey that vary in both the mean and variance of energy return using an expected utility framework. We show that for skewed distributions of energetic returns, the standard linear variance discounting (LVD) model for risk-sensitive foraging can produce quite misleading results. In addition to creating difficulties for the LVD model, the skewed distributions characteristic of hunting returns create challenges for estimating probability distribution functions required for expected utility. We present a solution using a two-component finite mixture model for foraging returns. We then use detailed foraging returns data based on focal follows of individual hunters in Western Australia hunting for high-risk/high-gain (hill kangaroo) and relatively low-risk/low-gain (sand monitor) prey. Using probability densities for the two resources estimated from the mixture models, combined with theoretically sensible utility curves characterized by diminishing marginal utility for the highest returns, we find that the expected utility of the sand monitors greatly exceeds that of kangaroos despite the fact that the mean energy return for kangaroos is nearly twice as large as that for sand monitors. We conclude that the decision to hunt hill kangaroos does not arise simply as part of an energetic utility-maximization strategy and that additional social, political or symbolic benefits must accrue to hunters of this highly variable prey.

  17. An Integrated Web-based Decision Support System in Disaster Risk Management

    Science.gov (United States)

    Aye, Z. C.; Jaboyedoff, M.; Derron, M. H.

    2012-04-01

    Nowadays, web based decision support systems (DSS) play an essential role in disaster risk management because of their supporting abilities which help the decision makers to improve their performances and make better decisions without needing to solve complex problems while reducing human resources and time. Since the decision making process is one of the main factors which highly influence the damages and losses of society, it is extremely important to make right decisions at right time by combining available risk information with advanced web technology of Geographic Information System (GIS) and Decision Support System (DSS). This paper presents an integrated web-based decision support system (DSS) of how to use risk information in risk management efficiently and effectively while highlighting the importance of a decision support system in the field of risk reduction. Beyond the conventional systems, it provides the users to define their own strategies starting from risk identification to the risk reduction, which leads to an integrated approach in risk management. In addition, it also considers the complexity of changing environment from different perspectives and sectors with diverse stakeholders' involvement in the development process. The aim of this platform is to contribute a part towards the natural hazards and geosciences society by developing an open-source web platform where the users can analyze risk profiles and make decisions by performing cost benefit analysis, Environmental Impact Assessment (EIA) and Strategic Environmental Assessment (SEA) with the support of others tools and resources provided. There are different access rights to the system depending on the user profiles and their responsibilities. The system is still under development and the current version provides maps viewing, basic GIS functionality, assessment of important infrastructures (e.g. bridge, hospital, etc.) affected by landslides and visualization of the impact

  18. Whose Values? Whose Risk? Exploring Decision Making About Trial of Labor After Cesarean.

    Science.gov (United States)

    Charles, Sonya; Wolf, Allison B

    2018-06-01

    In this article, we discuss decision making during labor and delivery, specifically focusing on decision making around offering women a trial of labor after cesarean section (TOLAC). Many have discussed how humans are notoriously bad at assessing risks and how we often distort the nature of various risks surrounding childbirth. We will build on this discussion by showing that physicians make decisions around TOLAC not only based on distortions of risk, but also based on personal values (i.e. what level of risk are you comfortable with or what types of risks are you willing to take) rather than medical data (or at least medical data alone). As a result of this, we will further suggest that the party who is best epistemically situated to make decisions about TOLAC is the woman herself.

  19. Decision-makers' Risk Perception in the Internationalisation of Small and Medium-Sized Firms

    DEFF Research Database (Denmark)

    Eduardsen, Jonas Strømfeldt; Marinova, Svetla Trifonova

    2016-01-01

    awareness exists, decision-makers do not perceive internationalisation as risky behaviour. Findings highlight the importance of decision-makers’ background, including cognitive and psychological characteristics, such as self-efficacy and locus of control, and their experiences in explaining risk perceptions......This study examines the risk perception of decision-makers in small and medium sized enterprises (SMEs) and the factors underlying these perceptions in the process of internationalization of their firms. While risk perception has been identified as a potential predictor variable...... in internationalisation research, very little work has been done exploring the factors and processes that shape decision-makers’ perception of risk. A qualitative interview-based approach was adopted by collecting data from thirty-two Danish SMEs operating in four different industries. Findings suggest that while risk...

  20. A methodological model to assist in the optimization and risk management of mining investment decisions

    International Nuclear Information System (INIS)

    Botin, Jose A; Guzman, Ronald R; Smith, Martin L

    2011-01-01

    Identifying, quantifying, and minimizing technical risks associated with investment decisions is a key challenge for mineral industry decision makers and investors. However, risk analysis in most bankable mine feasibility studies are based on the stochastic modeling of project N et Present Value (NPV)which, in most cases, fails to provide decision makers with a truly comprehensive analysis of risks associated with technical and management uncertainty and, as a result, are of little use for risk management and project optimization. This paper presents a value-chain risk management approach where project risk is evaluated for each step of the project life cycle, from exploration to mine closure, and risk management is performed as a part of a stepwise value-added optimization process.

  1. Decision-Making Under Risk: Integrating Perspectives From Biology, Economics, and Psychology.

    Science.gov (United States)

    Mishra, Sandeep

    2014-08-01

    Decision-making under risk has been variably characterized and examined in many different disciplines. However, interdisciplinary integration has not been forthcoming. Classic theories of decision-making have not been amply revised in light of greater empirical data on actual patterns of decision-making behavior. Furthermore, the meta-theoretical framework of evolution by natural selection has been largely ignored in theories of decision-making under risk in the human behavioral sciences. In this review, I critically examine four of the most influential theories of decision-making from economics, psychology, and biology: expected utility theory, prospect theory, risk-sensitivity theory, and heuristic approaches. I focus especially on risk-sensitivity theory, which offers a framework for understanding decision-making under risk that explicitly involves evolutionary considerations. I also review robust empirical evidence for individual differences and environmental/situational factors that predict actual risky decision-making that any general theory must account for. Finally, I offer steps toward integrating various theoretical perspectives and empirical findings on risky decision-making. © 2014 by the Society for Personality and Social Psychology, Inc.

  2. Managing risk: clinical decision-making in mental health services.

    Science.gov (United States)

    Muir-Cochrane, Eimear; Gerace, Adam; Mosel, Krista; O'Kane, Debra; Barkway, Patricia; Curren, David; Oster, Candice

    2011-01-01

    Risk assessment and management is a major component of contemporary mental health practice. Risk assessment in health care exists within contemporary perspectives of management and risk aversive practices in health care. This has led to much discussion about the best approach to assessing possible risks posed by people with mental health problems. In addition, researchers and commentators have expressed concern that clinical practice is being dominated by managerial models of risk management at the expense of meeting the patient's health and social care needs. The purpose of the present study is to investigate the risk assessment practices of a multidisciplinary mental health service. Findings indicate that mental health professionals draw on both managerial and therapeutic approaches to risk management, integrating these approaches into their clinical practice. Rather than being dominated by managerial concerns regarding risk, the participants demonstrate professional autonomy and concern for the needs of their clients.

  3. Dopaminergic circuitry and risk/reward decision making: implications for schizophrenia.

    Science.gov (United States)

    Stopper, Colin M; Floresco, Stan B

    2015-01-01

    Abnormal reinforcement learning and representations of reward value are present in schizophrenia, and these impairments can manifest as deficits in risk/reward decision making. These abnormalities may be due in part to dopaminergic dysfunction within cortico-limbic-striatal circuitry. Evidence from studies with laboratory animal have revealed that normal DA activity within different nodes of these circuits is critical for mediating dissociable processes that can refine decision biases. Moreover, both phasic and tonic dopamine transmission appear to play separate yet complementary roles in these processes. Tonic dopamine release within the prefrontal cortex and nucleus accumbens, serves as a "running rate-meter" of reward and reflects contextual information such as reward uncertainty and overt choice behavior. On the other hand, manipulations of outcome-related phasic dopamine bursts and dips suggest these signals provide rapid feedback to allow for quick adjustments in choice as reward contingencies change. The lateral habenula is a key input to the DA system that phasic signals is necessary for expressing subjective decision biases; as suppression of activity within this nucleus leads to catastrophic impairments in decision making and random patterns of choice behavior. As schizophrenia is characterized by impairments in using positive and negative feedback to appropriately guide decision making, these findings suggest that these deficits in these processes may be mediated, at least in part, by abnormalities in both tonic and phasic dopamine transmission. © The Author 2014. Published by Oxford University Press on behalf of the Maryland Psychiatric Research Center. All rights reserved. For permissions, please email: journals.permissions@oup.com.

  4. Risk patterns and correlated brain activities. Multidimensional statistical analysis of FMRI data in economic decision making study.

    Science.gov (United States)

    van Bömmel, Alena; Song, Song; Majer, Piotr; Mohr, Peter N C; Heekeren, Hauke R; Härdle, Wolfgang K

    2014-07-01

    Decision making usually involves uncertainty and risk. Understanding which parts of the human brain are activated during decisions under risk and which neural processes underly (risky) investment decisions are important goals in neuroeconomics. Here, we analyze functional magnetic resonance imaging (fMRI) data on 17 subjects who were exposed to an investment decision task from Mohr, Biele, Krugel, Li, and Heekeren (in NeuroImage 49, 2556-2563, 2010b). We obtain a time series of three-dimensional images of the blood-oxygen-level dependent (BOLD) fMRI signals. We apply a panel version of the dynamic semiparametric factor model (DSFM) presented in Park, Mammen, Wolfgang, and Borak (in Journal of the American Statistical Association 104(485), 284-298, 2009) and identify task-related activations in space and dynamics in time. With the panel DSFM (PDSFM) we can capture the dynamic behavior of the specific brain regions common for all subjects and represent the high-dimensional time-series data in easily interpretable low-dimensional dynamic factors without large loss of variability. Further, we classify the risk attitudes of all subjects based on the estimated low-dimensional time series. Our classification analysis successfully confirms the estimated risk attitudes derived directly from subjects' decision behavior.

  5. Trait mindfulness helps shield decision-making from translating into health-risk behavior.

    Science.gov (United States)

    Black, David S; Sussman, Steve; Johnson, C Anderson; Milam, Joel

    2012-12-01

    The cognitive tendency toward mindfulness may influence the enactment of health and risk behaviors by its bringing increased attention to and awareness of decision-making processes underlying behavior. The present study examined the moderating effect of trait mindfulness on associations between intentions to smoke (ITS)/smoking refusal self-efficacy (SRSE) and smoking frequency. Self-reports from Chinese adolescents (N = 5,287; mean age = 16.2 years, standard deviation = .7; 48.8% female) were collected in 24 schools. Smoking frequency was regressed on latent factor interactions Mindful Attention Awareness Scale*ITS and Mindful Attention Awareness Scale*SRSE, adjusting for school clustering effects and covariates. Both interaction terms were significant in cross-sectional analyses and showed that high ITS predicted higher smoking frequency among those low, relative to high, in trait mindfulness, whereas low SRSE predicted higher smoking frequency among those low, relative to high, in trait mindfulness. Findings suggest trait mindfulness possibly shields against decision-making processes that place adolescents at risk for smoking. Copyright © 2012 Society for Adolescent Health and Medicine. Published by Elsevier Inc. All rights reserved.

  6. Risk Assessment and Decision-Making under Uncertainty in Tunnel and Underground Engineering

    Directory of Open Access Journals (Sweden)

    Yuanpu Xia

    2017-10-01

    Full Text Available The impact of uncertainty on risk assessment and decision-making is increasingly being prioritized, especially for large geotechnical projects such as tunnels, where uncertainty is often the main source of risk. Epistemic uncertainty, which can be reduced, is the focus of attention. In this study, the existing entropy-risk decision model is first discussed and analyzed, and its deficiencies are improved upon and overcome. Then, this study addresses the fact that existing studies only consider parameter uncertainty and ignore the influence of the model uncertainty. Here, focus is on the issue of model uncertainty and differences in risk consciousness with different decision-makers. The utility theory is introduced in the model. Finally, a risk decision model is proposed based on the sensitivity analysis and the tolerance cost, which can improve decision-making efficiency. This research can provide guidance or reference for the evaluation and decision-making of complex systems engineering problems, and indicate a direction for further research of risk assessment and decision-making issues.

  7. Environmental risk assessment of chemicals and nanomaterials — The best foundation for regulatory decision-making?

    DEFF Research Database (Denmark)

    Syberg, Kristian; Hansen, Steffen Foss

    2016-01-01

    and, subsequently, to quantify risk. In this paper we argue that since the quantification of risk is dominated by uncertainties, ERAs do not provide a transparent or an objective foundation for decision-making and they should therefore not be considered as a “holy grail” for informing risk management...

  8. How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment

    OpenAIRE

    Cole, Shawn; Giné, Xavier; Vickery, James

    2013-01-01

    Weather is a key source of income risk for many firms and households, particularly in emerging market economies. This paper uses a randomized controlled trial approach to study how an innovative risk management instrument for hedging rainfall risk affects production decisions among a sample of Indian agricultural firms. The analysis finds that the provision of insurance induces farmers to ...

  9. Decision, risk and uncertainty. Withdrawal or reunification of children and young people in danger?

    Directory of Open Access Journals (Sweden)

    Paulo Delgado Ferreira

    2016-06-01

    Full Text Available This study aims to better understand what influences and determines decisions in contexts characterized by complexity and uncertainty, and contributes to the development of recommendations for practice. Based on the work of Davidson-Arad and Benbenishty (2008, 2010, we intended to understand how students from higher education, in scientific areas related to professions involved in decision making processes of children and young people at risk individual care plan, would decide in the presence of a specific case with different scenarios. Participated in the study 200 university students from different regions of Portugal. We used a factorial design (2×2 that involved a questionnaire vignette with four versions. The questionnaire describes the case of a child suspected of being a victim of violence and requires the students to make a decision about the kind of intervention that should be applied in that moment. In addition they must also decide, if the child was removed from her home, whether or not the child should be reunited with the biological family after two years. Among the key findings we highlight the fact that students recognized the risk posed to the child as suffering significant physical and emotional harm. Nevertheless, most decided in favour of an intervention with the biological family, avoiding the removal of the child from their life context. However, in the case of a decision favouring foster care, the majority of the students considered that the child should remain with the foster family when they were asked to reassess the case after two years. It is noted, with statistical significance, that the decision was influenced at first by the agreement or not of the mother to withdrawal and secondly by the child’s desire to be reunited or not with the birth family. We concluded that the development of professional evaluation criteria and decision making should be addressed by including in the curriculum of higher education

  10. Introduction to the special issue: Intuition and affect in risk perception and decision making

    OpenAIRE

    Gisela Boehm; Wibecke Brun

    2008-01-01

    (from the introduction) Intuition and affect have been neglected topics in the literature on human judgment and decision making for a long time. Judgmental processes involved in risk perception and decision making have traditionally been conceptualized as cognitive in nature, being based upon a rational and deliberate evaluation of the alternatives at hand. This picture started to change in the early 1980s when decision researchers looked beyond rational, deliberate, and cognitive processes a...

  11. Modelling financial risk in open pit mine projects: Implications for strategic decision-making

    OpenAIRE

    Abdel Sabour, S.A.; Wood, G.

    2009-01-01

    Strategic decisions in the mining industry are made under multiple technical and market uncertainties. Therefore, to reach the best possible decision, based on information available, it is necessary to integrate uncertainty about the input variables and model financial risk of the project's merit measures. However, this rovides few useful insights to decision-makers unless accompanied by modeling management responses to uncertainty resolutions. It is widely acknowledged that conventional deci...

  12. The relationship between risk factors and aeronautical decision making in the flight training environment

    Science.gov (United States)

    Wetmore, Michael J.

    The purpose of this applied dissertation was to investigate the relationship between risk factors and aeronautical decision making in the flight training environment using a quantitative, non-experimental, ex post facto research design. All 75 of the flight training accidents that involved a fatality from the years 2001-2003 were selected for study from the National Transportation Safety Board (NTSB) aviation accident database. Objective evidence from the Factual Reports was used to construct accident chains and to code and quantify total risk factors and total poor aeronautical decisions. The data were processed using correlational statistical tests at the 1% significance level. There was a statistically significant relationship between total risk factors per flight and poor decisions per flight. Liveware risks were the most prevalent risk factor category. More poor decisions were made during preflight than any other phase of flight. Pilots who made multiple poor decisions per flight had significantly higher risk factors per flight. A risk factor threat to decision making chart is presented for use by flight instructors and/or flight training organizations. The main threat to validity of this study was the NTSB accident investigation team investigative equality assumption.

  13. School-Related Stress Experience as a Risk Factor for Bullying Behavior.

    Science.gov (United States)

    Natvig, Gerd Karin; Albrektsen, Grethe; Qvarnstrom, Ulla

    2001-01-01

    Studied associations between bullying behavior and school-related stress experience, self-efficacy, social support, and decision control in a sample of 885 Norwegian adolescents aged 13-15 years. Increasing school alienation was associated with an increased risk of bullying, while increasing support from teachers and peers decreased the risk.…

  14. Female Adolescent Contraceptive Decision Making and Risk Taking.

    Science.gov (United States)

    Johnson, Sharon A.; Green, Vicki

    1993-01-01

    Findings from 60 sexually active, unmarried females, ages 14 through 18, revealed that cognitive capacity and cognitive egocentrism variables as well as age, grade, and ethnic status significantly predicted 6 of 7 decision-making variables in contraceptive use model. One cognitive capacity variable and one sexual contraceptive behavior variable…

  15. Real-time sun protection decisions in first-degree relatives of melanoma patients.

    Science.gov (United States)

    Hay, Jennifer L; Shuk, Elyse; Schofield, Elizabeth; Loeb, Rebecca; Holland, Susan; Burkhalter, Jack; Li, Yuelin

    2017-09-01

    Melanoma is the most serious skin cancer, and consistent use of sun protection is recommended to reduce risk. Yet sun protection use is generally inconsistent. Understanding the decisional factors driving sun protection choices could aid in intervention development to promote sun protection maintenance. In 59 first-degree relatives of melanoma patients, an interactive voice response system (IVRS) on participants' cell phones was used to assess twice daily (morning, afternoon) real-time sun protection usage (sunscreen, shade, hats, protective clothing) and decision factors (weather, type of activity, convenience, social support) over a 14-day summer interval where morning and afternoon outdoor exposures were anticipated. Generalized estimating equations and hierarchical linear models were used to examine the effect of demographics and decisional factors on sun protection choices over time. Sun protection use was inconsistent (e.g., 61% used sunscreen inconsistently). Most strategies were used independently, with the exception of moderate overlap of sunscreen and hat usage. Decision factors were highly relevant for sun protection. For instance, sunscreen use was related to the perception of having adequate time to apply it, whereas shade and hat usage were each related to convenience. Few findings emerged by gender, age, time of day, or year. Significant within-subject variation remained, however. The findings support continued examination of decision factors in understanding sun protection consistency in real time. Interventions where cues to action and environmental supports work together in varied settings can be developed to improve sun protection maintenance in populations at risk for this common disease. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

  16. Decision making by relatives about brain death organ donation: an integrative review.

    Science.gov (United States)

    de Groot, Jack; Vernooij-Dassen, Myrra; Hoedemaekers, Cornelia; Hoitsma, Andries; Smeets, Wim; van Leeuwen, Evert

    2012-06-27

    Deciding about the organ donation of one's brain-dead beloved often occurs in an unexpected and delicate situation. We explored the decision making of the relatives of potential brain-dead donors, its evaluation, and the factors influencing decision making. We used the integrative review method. Our search included 10 databases. Inclusion criteria were presence of the donation request or the subsequent decision process. Three authors independently assessed the eligibility of identified articles. Content analysis of 70 included articles led to three themes: decision, evaluation, and support. We extracted results and recommendations concerning these three themes. The timing of the request and understandable information influence the decision. The relatives evaluate their decision differently: in case of refusal, approximately one third regret their decision, and in case of consent, approximately one tenth mention regret. The relatives are often ambivalent about their values (protection, altruism, and respect) and the deceased's wishes, not wanting additional suffering either for their beloved or for themselves. Support is mainly focused on increasing consent rates and less on satisfaction with the decision. Evaluation of decision making by the relatives of potential brain-dead donors reveals possibilities for improving the decision process. Special skills of the requester, attention to the circumstances, and unconditional support for the relatives might prevent the relatives' regret about refusal and unnecessary loss of organs. We hypothesize that support in exploring the relatives' values and the deceased's wishes can lead to stable decisions. This hypothesis deserves further investigation.

  17. Performing a secondary executive task with affective stimuli interferes with decision making under risk conditions.

    Science.gov (United States)

    Gathmann, Bettina; Pawlikowski, Mirko; Schöler, Tobias; Brand, Matthias

    2014-05-01

    Previous studies demonstrated that executive functions are crucial for advantageous decision making under risk and that therefore decision making is disrupted when working memory capacity is demanded while working on a decision task. While some studies also showed that emotions can affect decision making under risk, it is unclear how affective processing and executive functions predict decision-making performance in interaction. The current experimental study used a between-subjects design to examine whether affective pictures (positive and negative pictures compared to neutral pictures), included in a parallel executive task (working memory 2-back task), have an impact on decision making under risk as assessed by the Game of Dice Task (GDT). Moreover, the performance GDT plus 2-back task was compared to the performance in the GDT without any additional task (GDT solely). The results show that the performance in the GDT differed between groups (positive, negative, neutral, and GDT solely). The groups with affective pictures, especially those with positive pictures in the 2-back task, showed more disadvantageous decisions in the GDT than the groups with neutral pictures and the group performing the GDT without any additional task. However, executive functions moderated the effect of the affective pictures. Regardless of affective influence, subjects with good executive functions performed advantageously in the GDT. These findings support the assumption that executive functions and emotional processing interact in predicting decision making under risk.

  18. Risk perception and decision processes underlying informed consent to research participation.

    Science.gov (United States)

    Reynolds, William W; Nelson, Robert M

    2007-11-01

    According to the rational choice model, informed consent should consist of a systematic, step-by-step evaluation of all information pertinent to the treatment or research participation decision. Research shows that people frequently deviate from this normative model, however, employing decision-making shortcuts, or heuristics. In this paper we report findings from a qualitative study of 32 adolescents and (their) 31 parents who were recruited from two Northeastern US hospitals and asked to consider the risks of and make hypothetical decisions about research participation. The purpose of this study was to increase our understanding of how diabetic and at-risk adolescents (i.e., those who are obese and/or have a family history of diabetes) and their parents perceive risks and make decisions about research participation. Using data collected from adolescents and parents, we identify heuristic decision processes in which participant perceptions of risk magnitude, which are formed quickly and intuitively and appear to be based on affective responses to information, are far more prominent and central to the participation decision than are perceptions of probability. We discuss participants' use of decision-making heuristics in the context of recent research on affect and decision processes, and we consider the implications of these findings for researchers.

  19. Decision making under ambiguity and under risk in mesial temporal lobe epilepsy.

    Science.gov (United States)

    Delazer, Margarete; Zamarian, Laura; Bonatti, Elisabeth; Kuchukhidze, Giorgi; Koppelstätter, Florian; Bodner, Thomas; Benke, Thomas; Trinka, Eugen

    2010-01-01

    Decision making is essential in everyday life. Though the importance of the mesial temporal lobe in emotional processing and feedback learning is generally recognized, decision making in mesial temporal lobe epilepsy (mTLE) is almost unexplored so far. Twenty-eight consecutive epilepsy patients with drug resistant mTLE and fifty healthy controls performed decision tasks under initial ambiguity (participants have to learn by feedback to make advantageous decisions) and under risk (advantageous choices may be made by estimating risks and by rational strategies). A subgroup analysis compared the performance of patients affected by MRI-verified abnormalities of the hippocampus or amygdala. The effect of lesion side was also assessed. In decision under ambiguity, mTLE patients showed marked deficits and did not improve over the task. Patients with hippocampus abnormality and patients with amygdala abnormality showed comparable deficits. No difference was found between right and left TLE groups. In decision under risk, mTLE patients performed at the same level as controls. Results suggest that mTLE patients have difficulties in learning from feedback and in making decisions in uncertain, ambiguous situations. By contrast, they are able to make advantageous decisions when full information is given and risks, possible gains and losses are exactly defined.

  20. Health economics and outcomes methods in risk-based decision-making for blood safety

    NARCIS (Netherlands)

    Custer, Brian; Janssen, Mart P.

    2015-01-01

    Analytical methods appropriate for health economic assessments of transfusion safety interventions have not previously been described in ways that facilitate their use. Within the context of risk-based decision-making (RBDM), health economics can be important for optimizing decisions among competing

  1. A Method on the Item Investment Risk Interval Decision-making of Processing Ranking Style

    Institute of Scientific and Technical Information of China (English)

    CHEN Li-wen

    2002-01-01

    In this paper, on the bases of the defeot of riskful type and indefinite type decisions, the concept of the type of item investment probability scheduling decision is given, and a linear programming model and its solution are made out. The feasibility of probability scheduling type item investment plan is studied by applying the quality of interval arithmetic.

  2. Towards patient-centered colorectal cancer surgery : focus on risks, decisions and clinical auditing

    NARCIS (Netherlands)

    Snijders, Heleen Simone

    2014-01-01

    The aim of this thesis was to explore several aspects of both clinical decision making and quality assessment in colorectal cancer surgery. Part one focusses on benefits and risks of treatment options, preoperative information provision and Shared Decision Making (SDM); part two investigates changes

  3. Pricing Decisions of a Dual-Channel Supply Chain considering Supply Disruption Risk

    Directory of Open Access Journals (Sweden)

    Yancong Zhou

    2018-01-01

    Full Text Available Supply disruption may cause strong complaints of customers, which is a cost loss for the firms in the supply chain. Obviously, if realizing that there is the disruption risk, the members in a supply chain will adjust their decisions. For analyzing the influence, we consider a popular supply chain mode with dual channels, where one manufacturer has its direct sales channel and one traditional retailer channel. The manufacturer may suffer a supply disruption so that all ordered products by the retailer or the direct retail channel will be lost, and the members in supply chain will bear the corresponding disruption penalty from the customers. By considering four structures with different market power relations, the closed-form optimal price decisions of the four models are given. We found that the disruption factor improves the sales prices for any member structure as compared to the supply chain without the disruption. And the direct retail prices in the different modes are the same as each other, but the price of the traditional channel is influenced by the market share. And the sorts of the sales prices under different structures are given. We also conduct some extensive numerical analysis and compare the results under different structures. We observe that the expected optimal profits of considering the external penalty are smaller than those of no external penalty, and we give a sort of the optimal expected profits. And we also provide the effects of some parameters on the optimal decisions and the optimal expected profits.

  4. A Precautionary-Principled Approach Towards Uncertain Risks: Review and Decision-Theoretic Elaboration

    NARCIS (Netherlands)

    Ch. Vlek (Charles)

    2009-01-01

    textabstractPrecautionary judgment, decision, and action are needed in situations involving serious uncertain risk. Examples are mountain climbing, nanotechnology, global warming, and international terrorism. The history of the Precautionary Principle (PP) shows that its proponents and opponents

  5. Managing cancer risk and decision making after kidney transplantation.

    Science.gov (United States)

    Webster, A C; Wong, G; Craig, J C; Chapman, J R

    2008-11-01

    Kidney transplant recipients are at higher risk of cancer at most sites, and cancer after transplantation causes considerable morbidity and mortality. To optimize long-term patient outcomes, clinicians balance the prospect of graft failure and dialysis, with competing risks of diabetes, cardiovascular and cerebrovascular disease and the risk of malignancy. In this paper we critically examine the assumptions underpinning primary prevention, immunization, chemoprevention and screening programs, and highlight considerations when applying evidence to the kidney transplant population, and suggest a clinical research agenda that aims to define a rational approach to managing posttransplant cancer risk.

  6. Decision making concept of risk control: integration of decision criteria, top level risk indices and plant performance indices

    International Nuclear Information System (INIS)

    Vojnovic, D.; Mavko, B.; Kozuh, M.

    1993-01-01

    A support system for risk monitoring and control is suggested. The following concepts of system elements are briefly discussed: risk curve partitioning, the reliability cost function, the multi-objective optimization model, preference assessment, safety/risk indicators, and knowledge based systems. (Z.S.) 2 figs

  7. Risk considerations related to lung modeling

    International Nuclear Information System (INIS)

    Masse, R.; Cross, F.T.

    1989-01-01

    Improved lung models provide a more accurate assessment of dose from inhalation exposures and, therefore, more accurate dose-response relationships for risk evaluation and exposure limitation. Epidemiological data for externally irradiated persons indicate that the numbers of excess respiratory tract carcinomas differ in the upper airways, bronchi, and distal lung. Neither their histogenesis and anatomical location nor their progenitor cells are known with sufficient accuracy for accurate assessment of the microdosimetry. The nuclei of sensitive cells generally can be assumed to be distributed at random in the epithelium, beneath the mucus and tips of the beating cilia and cells. In stratified epithelia, basal cells may be considered the only cells at risk. Upper-airway tumors have been observed in both therapeutically irradiated patients and in Hiroshima-Nagasaki survivors. The current International Commission on Radiological Protection Lung-Model Task Group proposes that the upper airways and lung have a similar relative risk coefficient for cancer induction. The partition of the risk weighting factor, therefore, will be proportional to the spontaneous death rate from tumors, and 80% of the weighting factor for the respiratory tract should be attributed to the lung. For Weibel lung-model branching generations 0 to 16 and 17 to 23, the Task Group proposes an 80/20 partition of the risk, i.e., 64% and 16%, respectively, of the total risk. Regarding risk in animals, recent data in rats indicate a significantly lower effectiveness for lung-cancer induction at low doses from insoluble long-lived alpha-emitters than from Rn daughters. These findings are due, in part, to the fact that different regions of the lung are irradiated. Tumors in the lymph nodes are rare in people and animals exposed to radiation.44 references

  8. Risk factors for age-related maculopathy.

    Science.gov (United States)

    Connell, Paul P; Keane, Pearse A; O'Neill, Evelyn C; Altaie, Rasha W; Loane, Edward; Neelam, Kumari; Nolan, John M; Beatty, Stephen

    2009-01-01

    Age-related maculopathy (ARM) is the leading cause of blindness in the elderly. Although beneficial therapeutic strategies have recently begun to emerge, much remains unclear regarding the etiopathogenesis of this disorder. Epidemiologic studies have enhanced our understanding of ARM, but the data, often conflicting, has led to difficulties with drawing firm conclusions with respect to risk for this condition. As a consequence, we saw a need to assimilate the published findings with respect to risk factors for ARM, through a review of the literature appraising results from published cross-sectional studies, prospective cohort studies, case series, and case control studies investigating risk for this condition. Our review shows that, to date, and across a spectrum of epidemiologic study designs, only age, cigarette smoking, and family history of ARM have been consistently demonstrated to represent risk for this condition. In addition, genetic studies have recently implicated many genes in the pathogenesis of age-related maculopathy, including Complement Factor H, PLEKHA 1, and LOC387715/HTRA1, demonstrating that environmental and genetic factors are important for the development of ARM suggesting that gene-environment interaction plays an important role in the pathogenesis of this condition.

  9. Risk Factors for Age-Related Maculopathy

    Directory of Open Access Journals (Sweden)

    Paul P. Connell

    2009-01-01

    Full Text Available Age-related maculopathy (ARM is the leading cause of blindness in the elderly. Although beneficial therapeutic strategies have recently begun to emerge, much remains unclear regarding the etiopathogenesis of this disorder. Epidemiologic studies have enhanced our understanding of ARM, but the data, often conflicting, has led to difficulties with drawing firm conclusions with respect to risk for this condition. As a consequence, we saw a need to assimilate the published findings with respect to risk factors for ARM, through a review of the literature appraising results from published cross-sectional studies, prospective cohort studies, case series, and case control studies investigating risk for this condition. Our review shows that, to date, and across a spectrum of epidemiologic study designs, only age, cigarette smoking, and family history of ARM have been consistently demonstrated to represent risk for this condition. In addition, genetic studies have recently implicated many genes in the pathogenesis of age-related maculopathy, including Complement Factor H, PLEKHA 1, and LOC387715/HTRA1, demonstrating that environmental and genetic factors are important for the development of ARM suggesting that gene-environment interaction plays an important role in the pathogenesis of this condition.

  10. Risk factors for age-related maculopathy.

    LENUS (Irish Health Repository)

    Connell, Paul P

    2012-02-01

    Age-related maculopathy (ARM) is the leading cause of blindness in the elderly. Although beneficial therapeutic strategies have recently begun to emerge, much remains unclear regarding the etiopathogenesis of this disorder. Epidemiologic studies have enhanced our understanding of ARM, but the data, often conflicting, has led to difficulties with drawing firm conclusions with respect to risk for this condition. As a consequence, we saw a need to assimilate the published findings with respect to risk factors for ARM, through a review of the literature appraising results from published cross-sectional studies, prospective cohort studies, case series, and case control studies investigating risk for this condition. Our review shows that, to date, and across a spectrum of epidemiologic study designs, only age, cigarette smoking, and family history of ARM have been consistently demonstrated to represent risk for this condition. In addition, genetic studies have recently implicated many genes in the pathogenesis of age-related maculopathy, including Complement Factor H, PLEKHA 1, and LOC387715\\/HTRA1, demonstrating that environmental and genetic factors are important for the development of ARM suggesting that gene-environment interaction plays an important role in the pathogenesis of this condition.

  11. Age differences in neural correlates of feedback processing after economic decisions under risk.

    Science.gov (United States)

    Fernandes, Carina; Pasion, Rita; Gonçalves, Ana R; Ferreira-Santos, Fernando; Barbosa, Fernando; Martins, Isabel P; Marques-Teixeira, João

    2018-05-01

    This study examines age-related differences in behavioral responses to risk and in the neurophysiological correlates of feedback processing. Our sample was composed of younger, middle-aged, and older adults, who were asked to decide between 2 risky options, in the gain and loss domains, during an EEG recording. Results evidenced group-related differences in early and later stages of feedback processing, indexed by differences in the feedback-related negativity (FRN) and P3 amplitudes. Specifically, in the loss domain, younger adults showed higher FRN amplitudes after non-losses than after losses, whereas middle-aged and older adults had similar FRN amplitudes after both. In the gain domain, younger and middle-aged adults had higher P3 amplitudes after gains than after non-gains, whereas older adults had similar P3 amplitudes after both. Behaviorally, older adults had higher rates of risky decisions than younger adults in the loss domain, a result that was correlated with poorer performance in memory and executive functions. Our results suggest age-related differences in the outcome-related expectations, as well as in the affective relevance attributed to the outcomes, which may underlie the group differences found in risk-aversion. Copyright © 2018 Elsevier Inc. All rights reserved.

  12. 77 FR 29391 - An Approach for Probabilistic Risk Assessment in Risk-Informed Decisions on Plant-Specific...

    Science.gov (United States)

    2012-05-17

    ... NUCLEAR REGULATORY COMMISSION [NRC-2012-0110] An Approach for Probabilistic Risk Assessment in Risk-Informed Decisions on Plant-Specific Changes to the Licensing Basis AGENCY: Nuclear Regulatory Commission. ACTION: Draft regulatory guide; request for comment. SUMMARY: The U.S. Nuclear Regulatory...

  13. Notes for a workshop on risk analysis and decision under uncertainty. The practical use of probabilistic and Bayesian methodology inreal life risk assessment and decision problems

    Energy Technology Data Exchange (ETDEWEB)

    1979-01-01

    The use of probabilistic, and especially Bayesian, methods is explained. The concepts of risk and decision, and probability and frequency are elucidated. The mechanics of probability and probabilistic calculations is discussed. The use of the method for particular problems, such as the frequency of aircraft crashes at a specified nuclear reactor site, is illustrated. 64 figures, 20 tables. (RWR)

  14. Notes for a workshop on risk analysis and decision under uncertainty. The practical use of probabilistic and Bayesian methodology inreal life risk assessment and decision problems

    International Nuclear Information System (INIS)

    1979-01-01

    The use of probabilistic, and especially Bayesian, methods is explained. The concepts of risk and decision, and probability and frequency are elucidated. The mechanics of probability and probabilistic calculations is discussed. The use of the method for particular problems, such as the frequency of aircraft crashes at a specified nuclear reactor site, is illustrated. 64 figures, 20 tables

  15. Essentials of Risk Management. Strategic Decisions. Board Basics.

    Science.gov (United States)

    Sonenstein, Burton; Kumin, Laura A.

    1998-01-01

    This booklet, intended for trustees of institutions of higher education, offers some instruction on the principles of risk management. Introductory information provides a definition of risk management, which is seen as a planning and strategic function, not solely as a financial or safety assessment. Individual sections then address the following…

  16. Risk based decision tool for space exploration missions

    Science.gov (United States)

    Meshkat, Leila; Cornford, Steve; Moran, Terrence

    2003-01-01

    This paper presents an approach and corresponding tool to assess and analyze the risks involved in a mission during the pre-phase A design process. This approach is based on creating a risk template for each subsystem expert involved in the mission design process and defining appropriate interactions between the templates.

  17. Research on the Influence of Perceived Risk in Consumer On-line Purchasing Decision

    Science.gov (United States)

    Hong, Zhao; Yi, Li

    Perceived risk is an important factor that affects consumer's on-line shopping purchasing decision, through the perceived theories the consumer can know clearly which step owns higher risk in the whole shopping process, then learn how to prevent it, this process also strengthen the consumer confidence, thus lowering to know that the risk adjudicate to the feeling, so the essay has important and realistic meaning for further expand the electronic commerce. At first, investigate, collect, tidy up, analyze the questionnaire information, and thus get the primary data. Finally try to find out the influence of perceived risk to each stage of purchasing decision during consumer on-line shopping process with data and personal analytical. The paper is a complement to the local and existing perceived theories. The result of the study manifests that, the order of main perceived risks which felt by consumer during on-line shopping process are as follow: financial risk, the performance risk and service risk.

  18. NanoRisk - A Conceptual Decision Support Tool for Nanomaterials

    DEFF Research Database (Denmark)

    Hansen, Steffen Foss; Baun, Anders; Alstrup Jensen, K.

    2011-01-01

    Only a few risk assessment methodologies and approaches are useful for assessing the risk for professional end-users, consumers and the environment. We have developed a generic framework (NanoRiskCat) that can be used by companies and risk assessors to categorize nanomaterials considering existing...... environmental, health and safety information and known uncertainties. In NanoRiskCat’s simplest form, the final evaluation outcome for a specific nanomaterial in a given application will be communicated in the form of a short title (e.g. TiO2 in sunscreen) describing the use of the nanomaterial. This short...... to the exposure and hazard potential are green , yellow corresponding to none, possible, expected and unknown, respectively. The exposure potential was evaluated based on 1) the location of the nanomaterial and 2) a judgment of the potential of nanomaterial exposure based on the description and explanation...

  19. Computerised Genetic Risk Assessment and Decision Support in Primary Care

    Directory of Open Access Journals (Sweden)

    Andrew Coulson

    2000-09-01

    To address these issues, a new computer application called RAGs (Risk Assessment in Genetics has been designed. The system allows a doctor to create family trees and assess genetic risk of breast cancer. RAGs possesses two features that distinguish it from similar software: (a a user-centred design, which takes into account the requirements of the doctor-patient encounter; (b risk reporting using qualitative evidence for or against an increased risk, which the authors believe to be more useful and accessible than numerical probabilities are. In that the system allows for any genetic risk guideline to be implemented, it can be used with all diseases for which evaluation guidelines exist. The software may be easily modified to cater for the amount of detail required by different specialists.

  20. Investment Decision Support for Engineering Projects Based on Risk Correlation Analysis

    Directory of Open Access Journals (Sweden)

    Yan Liu

    2012-01-01

    Full Text Available Investment decisions are usually made on the basis of the subjective judgments of experts subjected to the information gap during the preliminary stages of a project. As a consequence, a series of errors in risk prediction and/or decision-making will be generated leading to out of control investment and project failure. In this paper, the variable fuzzy set theory and intelligent algorithms integrated with case-based reasoning are presented. The proposed algorithm manages the numerous fuzzy concepts and variable factors of a project and also sets up the decision-making process in accordance with past cases and experiences. Furthermore, it decreases the calculation difficulty and reduces the decision-making reaction time. Three types of risk correlations combined with different characteristics of engineering projects are summarized, and each of these correlations is expounded at the project investment decision-making stage. Quantitative and qualitative change theories of variable fuzzy sets are also addressed for investment risk warning. The approach presented in this paper enables the risk analysis in a simple and intuitive manner and realizes the integration of objective and subjective risk assessments within the decision-makers' risk expectation.

  1. Incorporating stand level risk management options into forest decision support systems

    Directory of Open Access Journals (Sweden)

    Kyle Eyvindson

    2018-01-01

    Full Text Available Aim of study: To examine methods of incorporating risk and uncertainty to stand level forest decisions. Area of study: A case study examines a small forest holding from Jönköping, Sweden. Material and methods: We incorporate empirically estimated uncertainty into the simulation through a Monte Carlo approach when simulating the forest stands for the next 100 years. For the iterations of the Monte Carlo approach, errors were incorporated into the input data which was simulated according to the Heureka decision support system. Both the Value at Risk and the Conditional Value at Risk of the net present value are evaluated for each simulated stand. Main results: Visual representation of the errors can be used to highlight which decision would be most beneficial dependent on the decision maker’s opinion of the forest inventory results. At a stand level, risk preferences can be rather easily incorporated into the current forest decision support software. Research highlights: Forest management operates under uncertainty and risk. Methods are available to describe this risk in an understandable fashion for the decision maker.

  2. Using social network analysis to evaluate health-related adaptation decision-making in Cambodia.

    Science.gov (United States)

    Bowen, Kathryn J; Alexander, Damon; Miller, Fiona; Dany, Va

    2014-01-30

    Climate change adaptation in the health sector requires decisions across sectors, levels of government, and organisations. The networks that link these different institutions, and the relationships among people within these networks, are therefore critical influences on the nature of adaptive responses to climate change in the health sector. This study uses social network research to identify key organisational players engaged in developing health-related adaptation activities in Cambodia. It finds that strong partnerships are reported as developing across sectors and different types of organisations in relation to the health risks from climate change. Government ministries are influential organisations, whereas donors, development banks and non-government organisations do not appear to be as influential in the development of adaptation policy in the health sector. Finally, the study highlights the importance of informal partnerships (or 'shadow networks') in the context of climate change adaptation policy and activities. The health governance 'map' in relation to health and climate change adaptation that is developed in this paper is a novel way of identifying organisations that are perceived as key agents in the decision-making process, and it holds substantial benefits for both understanding and intervening in a broad range of climate change-related policy problems where collaboration is paramount for successful outcomes.

  3. Using Social Network Analysis to Evaluate Health-Related Adaptation Decision-Making in Cambodia

    Directory of Open Access Journals (Sweden)

    Kathryn J. Bowen

    2014-01-01

    Full Text Available Climate change adaptation in the health sector requires decisions across sectors, levels of government, and organisations. The networks that link these different institutions, and the relationships among people within these networks, are therefore critical influences on the nature of adaptive responses to climate change in the health sector. This study uses social network research to identify key organisational players engaged in developing health-related adaptation activities in Cambodia. It finds that strong partnerships are reported as developing across sectors and different types of organisations in relation to the health risks from climate change. Government ministries are influential organisations, whereas donors, development banks and non-government organisations do not appear to be as influential in the development of adaptation policy in the health sector. Finally, the study highlights the importance of informal partnerships (or ‘shadow networks’ in the context of climate change adaptation policy and activities. The health governance ‘map’ in relation to health and climate change adaptation that is developed in this paper is a novel way of identifying organisations that are perceived as key agents in the decision-making process, and it holds substantial benefits for both understanding and intervening in a broad range of climate change-related policy problems where collaboration is paramount for successful outcomes.

  4. Applying real options in investment decisions relating to environmental pollution

    Energy Technology Data Exchange (ETDEWEB)

    Lin, Tyrone T. [Department of International Business, National Dong Hwa University, 1, Sec. 2, Da Hsueh Road, Shou-Feng, Hualien 974, Taiwan (China)]. E-mail: tjlin@mail.ndhu.edu.tw; Ko, C.-C. [Department of International Trade, Jin Wen Institute of Technology, Taiwan (China); Yeh, H.-N. [Graduate School of Management, Ming Chuan University, Taiwan (China)

    2007-04-15

    This study focuses on how to assess the optimal environmental investment decisions under economic and ecological uncertainty, and establishes the continuous time model using the real option approach to optimize environmental pollution policy. Unlike traditional cost benefit analysis, this work extends the model of [Pindyck, R.S., 2002. Optimal timing problems in environmental economics. Journal of Economic Dynamics and Control 26(9-10), 1677-1697], and attempts to identify the storage threshold of pollution stocks and the optimal timing for implementing environmental pollution decisions.

  5. Applying real options in investment decisions relating to environmental pollution

    International Nuclear Information System (INIS)

    Lin, Tyrone T.; Ko, C.-C.; Yeh, H.-N.

    2007-01-01

    This study focuses on how to assess the optimal environmental investment decisions under economic and ecological uncertainty, and establishes the continuous time model using the real option approach to optimize environmental pollution policy. Unlike traditional cost benefit analysis, this work extends the model of [Pindyck, R.S., 2002. Optimal timing problems in environmental economics. Journal of Economic Dynamics and Control 26(9-10), 1677-1697], and attempts to identify the storage threshold of pollution stocks and the optimal timing for implementing environmental pollution decisions

  6. 'No Pink Ribbons': How Women's Lived Experiences With Breast Atypia Inform Decisions Involving Risk-Reducing Medications

    Directory of Open Access Journals (Sweden)

    Sarah L. Goff

    2018-04-01

    Full Text Available Purpose: Atypical hyperplasia (AH is associated with a nearly 4-fold elevation of lifetime risk for breast cancer, and lobular carcinoma in situ (LCIS is associated with a 7- to 8-fold risk. Women with AH/LCIS make numerous decisions in the course of treatment, including whether to take a risk-reducing medication, an option relatively few women pursue. We explored women’s decision-making processes through patient narratives in an effort to inform decision supports for AH/LCIS. Methods: We conducted in-depth interviews with 20 English-speaking women with AH/LCIS and no subsequent diagnosis of invasive breast cancer who had enrolled in the Rays of Hope Center for Breast Cancer Research patient registry between April 5, 2012, and March 31, 2016. Interviews were audiotaped, professionally transcribed, and qualitatively analyzed using thematic qualitative content analysis. Results: We identified three major narrative themes: 1 experiences with medical care; 2 decision-making; and 3 making sense of AH/LCIS. Each major theme had several subthemes, many of which map onto existing decisional theories and heuristics. Subthemes included the impact of life context on diagnosis meaning, emotional responses, changes in self-concept and body image, and understanding of the risk-benefit of risk-reducing medications. Conclusions: This narrative analysis offers important insights into how lived experience may influence decision-making for women with AH/LCIS. Decision supports that focus not only on analytic decisional processes, but also patients’ subjectivities and decisional heuristics, could prove useful for women and their health care providers.

  7. Effects of Age-related Differences in Empathy on Social Economic Decision-Making

    OpenAIRE

    Beadle, Janelle N.; Paradiso, Sergio; Kovach, Christopher; Polgreen, Linnea; Denburg, Natalie; Tranel, Daniel

    2012-01-01

    Background: The ways in which aging affects social economic decision-making is a central issue in the psychology of aging. To examine age-related differences in social economic decision-making as a function of empathy, 80 healthy volunteers participated in the Repeated Fixed Opponent Ultimatum Game (UG-R). Previous economic decision-making research has shown that in younger adults empathy is associated with prosocial behavior. The effects of empathy on older adult social economic decision-mak...

  8. Modifiable risk factors predicting major depressive disorder at four year follow-up: a decision tree approach

    OpenAIRE

    Batterham, Philip J; Christensen, Helen; Mackinnon, Andrew J

    2009-01-01

    Abstract Background Relative to physical health conditions such as cardiovascular disease, little is known about risk factors that predict the prevalence of depression. The present study investigates the expected effects of a reduction of these risks over time, using the decision tree method favoured in assessing cardiovascular disease risk. Methods The PATH through Life cohort was used for the study, comprising 2,105 20-24 year olds, 2,323 40-44 year olds and 2,177 60-64 year olds sampled fr...

  9. Risk estimation and decision making: the health effects on populations of exposure to low levels of ionizing radiation

    International Nuclear Information System (INIS)

    Fabrikant, J.I.

    1982-01-01

    Presented is a background for an understanding of the potential health effects in populations exposed to low-level radiation. Discussed is the knowledge about the health effects of low-level radiation. Comments on how the risks of radiation-induced cancer and genetically-related ill-health in man may be estimated, the sources of the scientific and epidemiological data, the dose-response models used, and the uncertainties which limit precise estimates of excess risks from radiation. Also discussed are the implications of numerical risk estimation for radiation protection and decision-making for public health policy

  10. Restructuring of Values and Probabilities: Psychological Processes in Human Decision Making under Risk

    Energy Technology Data Exchange (ETDEWEB)

    Svenson, Ola; Salo, Ilkka [Stockholm Univ. (Sweden). Dept. of Psychology

    2001-07-01

    According to Differentiation and Consolidation Theory (Diff Con), the decision maker's representations of values and probabilities are interdependent and changing over time in risky decision making. This is a clear violation of most normative theories of decision making. The present contribution will present Diff Con and provide empirical illustrations of how mental representations of values and probabilities change over time. The paper concludes with a discussion of the implications of these findings concerning expert and lay people decision making about risks and hazards.

  11. Risk communication, geoethics and decision science issues in Japan's disaster management system

    Science.gov (United States)

    Sugimoto, M.

    2014-12-01

    Issues in Japan's disaster management system were revealed by the 2011 Tohoku earthquake and tsunami, and by the Fukushima Dai-ichi nuclear power station accident. Many important decisions were based on scientific data, but appear not to have sufficiently considered the uncertainties of the data and the societal aspects of the problems. The issues that arose show the need for scientists to appropriately deal with risk communication and geoethics and issues. This paper discusses necessity of education for risk communication, geoethics and decisions science in school before students become sicentific decision makers in future.

  12. Some considerations on the treatment of uncertainties in risk assessment for practical decision making

    International Nuclear Information System (INIS)

    Aven, Terje; Zio, Enrico

    2011-01-01

    This paper discusses the challenges involved in the representation and treatment of uncertainties in risk assessment, taking the point of view of its use in support to decision making. Two main issues are addressed: (1) how to faithfully represent and express the knowledge available to best support the decision making and (2) how to best inform the decision maker. A general risk-uncertainty framework is presented which provides definitions and interpretations of the key concepts introduced. The framework covers probability theory as well as alternative representations of uncertainty, including interval probability, possibility and evidence theory.

  13. Economic policy uncertainty, credit risks and banks lending decisions: Evidence from Chinese commercial banks

    Institute of Scientific and Technical Information of China (English)

    Qinwei Chi; Wenjing Li

    2017-01-01

    Using data for Chinese commercial banks from 2000 to 2014, this paper examines the effects of economic policy uncertainty(EPU) on banks’ credit risks and lending decisions. The results reveal significantly positive connections among EPU and non-performing loan ratios, loan concentrations and the normal loan migration rate. This indicates that EPU increases banks’ credit risks and negatively influences loan size, especially for joint-equity banks. Given the increasing credit risks generated by EPU, banks can improve operational performance by reducing loan sizes. Further research indicates that the effects of EPU on banks’ credit risks and lending decisions are moderated by the marketization level, with financial depth moderating the effect on banks’ credit risks and strengthening it on lending decisions.

  14. Applying the Wildland Fire Decision Support System (WFDSS) to support risk-informed decision making: The Gold Pan Fire, Bitterroot National Forest, Montana, USA

    Science.gov (United States)

    Erin K. Noonan-Wright; Tonja S. Opperman

    2015-01-01

    In response to federal wildfire policy changes, risk-informed decision-making by way of improved decision support, is increasingly becoming a component of managing wildfires. As fire incidents escalate in size and complexity, the Wildland Fire Decision Support System (WFDSS) provides support with different analytical tools as fire conditions change. We demonstrate the...

  15. Purchase decision involvement: Event management segments and related event behavior

    Science.gov (United States)

    Rodney B. Warnick; David C. Bojanic

    2012-01-01

    The goal of this research was to examine the relationships between different levels of event purchase decision involvement (PDI) segments and their respective event behaviors (e.g., expenditures, travel behavior, event consumption and satisfaction). The specific purpose was to answer two major research questions: 1) Can PDI identify different levels or segments of...

  16. Process-related factors associated with disciplinary board decisions

    DEFF Research Database (Denmark)

    Birkeland, Søren; Christensen, RD; Damsbo, Niels

    2013-01-01

    plays with regard to board decision outcomes. Using complaint cases towards general practitioners, the aim of this study was to identify what process factors are statistically associated with disciplinary actions as seen from the party of the complainant and the defendant general practitioner...

  17. Tuition and Student Aid: Their Relation to College Enrollment Decisions.

    Science.gov (United States)

    Corwin, Thomas M., Ed.; Kent, Laura, Ed.

    Presentations and critiques include these topics: determinants of college decisions; supply and demand in postsecondary education; shortcomings of models and data bases; effects of price and nonprice characteristics; and some methodoligical considerations. Discussion questions include: Is there a middle-income squeeze?; How can nonapplicants be…

  18. Survival or Mortality: Does Risk Attribute Framing Influence Decision-Making Behavior in a Discrete Choice Experiment?

    Science.gov (United States)

    Veldwijk, Jorien; Essers, Brigitte A B; Lambooij, Mattijs S; Dirksen, Carmen D; Smit, Henriette A; de Wit, G Ardine

    2016-01-01

    To test how attribute framing in a discrete choice experiment (DCE) affects respondents' decision-making behavior and their preferences. Two versions of a DCE questionnaire containing nine choice tasks were distributed among a representative sample of the Dutch population aged 55 to 65 years. The DCE consisted of four attributes related to the decision regarding participation in genetic screening for colorectal cancer (CRC). The risk attribute included was framed positively as the probability of surviving CRC and negatively as the probability of dying from CRC. Panel mixed-logit models were used to estimate the relative importance of the attributes. The data of the positively and negatively framed DCE were compared on the basis of direct attribute ranking, dominant decision-making behavior, preferences, and importance scores. The majority (56%) of the respondents ranked survival as the most important attribute in the positively framed DCE, whereas only a minority (8%) of the respondents ranked mortality as the most important attribute in the negatively framed DCE. Respondents made dominant choices based on survival significantly more often than based on mortality. The framing of the risk attribute significantly influenced all attribute-level estimates and resulted in different preference structures among respondents in the positively and negatively framed data set. Risk framing affects how respondents value the presented risk. Positive risk framing led to increased dominant decision-making behavior, whereas negative risk framing led to risk-seeking behavior. Attribute framing should have a prominent part in the expert and focus group interviews, and different types of framing should be used in the pilot version of DCEs as well as in actual DCEs to estimate the magnitude of the effect of choosing different types of framing. Copyright © 2016 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  19. Nuclear power plant personnel errors in decision-making as an object of probabilistic risk assessment

    International Nuclear Information System (INIS)

    Reer, B.

    1993-09-01

    The integration of human error - also called man-machine system analysis (MMSA) - is an essential part of probabilistic risk assessment (PRA). A new method is presented which allows for a systematic and comprehensive PRA inclusions of decision-based errors due to conflicts or similarities. For the error identification procedure, new question techniques are developed. These errors are shown to be identified by looking at retroactions caused by subordinate goals as components of the overall safety relevant goal. New quantification methods for estimating situation-specific probabilities are developed. The factors conflict and similarity are operationalized in a way that allows their quantification based on informations which are usually available in PRA. The quantification procedure uses extrapolations and interpolations based on a poor set of data related to decision-based errors. Moreover, for passive errors in decision-making a completely new approach is presented where errors are quantified via a delay initiating the required action rather than via error probabilities. The practicability of this dynamic approach is demonstrated by a probabilistic analysis of the actions required during the total loss of feedwater event at the Davis-Besse plant 1985. The extensions of the ''classical'' PRA method developed in this work are applied to a MMSA of the decay heat removal (DHR) of the ''HTR-500''. Errors in decision-making - as potential roots of extraneous acts - are taken into account in a comprehensive and systematic manner. Five additional errors are identified. However, the probabilistic quantification results a nonsignificant increase of the DHR failure probability. (orig.) [de

  20. Prioritization of information using decision support systems for seismic risk in Bucharest city

    Science.gov (United States)

    Armas, Iuliana; Gheorghe, Diana

    2014-05-01

    Nowadays, because of the ever increasing volume of information, policymakers are faced with decision making problems. Achieving an objective and suitable decision making may become a challenge. In such situations decision support systems (DSS) have been developed. DSS can assist in the decision making process, offering support on how a decision should be made, rather than what decision should be made (Simon, 1979). This in turn potentially involves a huge number of stakeholders and criteria. Regarding seismic risk, Bucharest City is highly vulnerable (Mandrescu et al., 2007). The aim of this study is to implement a spatial decision support system in order to secure a suitable shelter in case of an earthquake occurrence in the historical centre of Bucharest City. In case of a seismic risk, a shelter is essential for sheltering people who lost their homes or whose homes are in danger of collapsing while people at risk receive first aid in the post-disaster phase. For the present study, the SMCE Module for ILWIS 3.4 was used. The methodology included structuring the problem by creating a decision tree, standardizing and weighting of the criteria. The results showed that the most suitable buildings are Tania Hotel, Hanul lui Manuc, The National Bank of Romania, The Romanian Commercial Bank and The National History Museum.

  1. Framework for Human Health Risk Assessment to Inform Decision Making

    Science.gov (United States)

    The purpose of this document is to describe a Framework for conducting human health risk assessments that are responsive to the needs of decision‐making processes in the U.S. Environmental Protection Agency (EPA).

  2. Comprehensive risk assessment for rail transportation of dangerous goods: a validated platform for decision support

    International Nuclear Information System (INIS)

    Gheorghe, Adrian V.; Birchmeier, Juerg; Vamanu, Dan; Papazoglou, Ioannis; Kroeger, Wolfgang

    2005-01-01

    Currently, the most advanced and well documented risk assessments for the transportation of dangerous goods by railway take into account:(i)statistics-based loss of containment frequencies, (ii) specification of potential consequences for a given release situations using event tree methodology as an organisational tool and (iii) consequence calculation models to determine a risk figure known as CCDF (Complementary Cumulative Distribution Function). Such procedures for the risk assessment (including for example decision-making on preventive measures) may offer only a limited insight into the causes and sequences leading to an accident and do not allow for any kind of predictive analysis. The present work introduces an enhanced solution, and a related software platform, which attempts to integrate loss of containment causes and consequences with system's infrastructure and its environment. The solution features:(i)the use of a detailed Master Logical Diagram, including fault/event tree analysis to determine a loss of containment frequency based on different initiating events, scenarios and specific basic data, (ii) the characterization of a resulting source term following a release situation, and (iii) the calculation of various potential impacts on the neighbouring site. Results are wrapped into a CCDF format for each selected traffic segment. The risk-related results are integrated on a software platform, structured as a decision support system using intelligent maps and a variety of GIS (Geographical Information System) data processing procedures. The introduction of the hot spot approach, allows us to focus on the most risk-relevant areas and to use information on various railway infrastructure elements (e.g. points, tunnels), are the basis of the new models employed. The software is applicable to any railway transportation system, comprising its technical infrastructure, rolling stock, human actions, regulation and management procedures. It provides the

  3. How politicians make decisions under risk: a political choice experiment

    OpenAIRE

    Enrique Fatás; Tibor Neugebauer; Pilar Tamborero

    2004-01-01

    We report on an experimental study with real-world politicians. These political experts face political choice problems under risk and probability. Thus, we test the frequently observed violations of rational choice theory -the reference point effect, loss aversion, framing effects, and the common ratio effect- with experts from the field. Their choices violate expected utility theory. Nevertheless, they appear to be more rational and less risk averse (loving) in the domain of gains (losses) t...

  4. Perceived social risk in medical decision-making for physical child abuse: a mixed-methods study.

    Science.gov (United States)

    Keenan, Heather T; Campbell, Kristine A; Page, Kent; Cook, Lawrence J; Bardsley, Tyler; Olson, Lenora M

    2017-12-22

    The medical literature reports differential decision-making for children with suspected physical abuse based on race and socioeconomic status. Differential evaluation may be related to differences of risk indicators in these populations or differences in physicians' perceptions of abuse risk. Our objective was to understand the contribution of the child's social ecology to child abuse pediatricians' perception of abuse risk and to test whether risk perception influences diagnostic decision-making. Thirty-two child abuse pediatrician participants prospectively contributed 746 consultations from for children referred for physical abuse evaluation (2009-2013). Participants entered consultations to a web-based interface. Participants noted their perception of child race, family SES, abuse diagnosis. Participants rated their perception of social risk for abuse and diagnostic certainty on a 1-100 scale. Consultations (n = 730) meeting inclusion criteria were qualitatively analyzed for social risk indicators, social and non-social cues. Using a linear mixed-effects model, we examined the associations of social risk indicators with participant social risk perception. We reversed social risk indicators in 102 cases whilst leaving all injury mechanism and medical information unchanged. Participants reviewed these reversed cases and recorded their social risk perception, diagnosis and diagnostic certainty. After adjustment for physician characteristics and social risk indicators, social risk perception was highest in the poorest non-minority families (24.9 points, 95%CI: 19.2, 30.6) and minority families (17.9 points, 95%CI, 12.8, 23.0). Diagnostic certainty and perceived social risk were associated: certainty increased as social risk perception increased (Spearman correlation 0.21, p < 0.001) in probable abuse cases; certainty decreased as risk perception increased (Spearman correlation (-)0.19, p = 0.003) in probable not abuse cases. Diagnostic decisions changed

  5. An expert panel approach to support risk-informed decision making

    International Nuclear Information System (INIS)

    Pulkkinen, U.; Simola, K.

    2000-01-01

    The report describes the expert panel methodology developed for supporting risk-informed decision making. The aim of an expert panel is to achieve a balanced utilisation of information and expertise from several disciplines in decision-making including probabilistic safety assessment as one decision criterion. We also summarise the application of the methodology in the STUK's RI-ISI (Risk-Informed In-Service Inspection) pilot study, where the expert panel approach was used to combine the deterministic information on degradation mechanisms and probabilistic information on pipe break consequences. The expert panel served both as a critical review of the preliminary results and as a decision support for the final definition of risk categories of piping. (orig.)

  6. THE IMPORTANCE OF BRAND AWARENESS IN CONSUMERS’ BUYING DECISION AND PERCEIVED RISK ASSESSMENT

    Directory of Open Access Journals (Sweden)

    Ovidiu MOISESCU

    2009-01-01

    Full Text Available Brand awareness, as one of the fundamental dimensions of brand equity, isoften considered to be a prerequisite of consumers’ buying decision, as itrepresents the main factor for including a brand in the consideration set.Brand awareness can also influence consumers’ perceived risk assessmentand their confidence in the purchase decision, due to familiarity with thebrand and its characteristics. On the other hand, brand awareness can bedepicted into at least two facets – unaided (brand recall and aided (brandrecognition – each of the two facets having its more or less effectiveinfluence on buying decision and perceived risk assessment. This paper triesto reveal, on one hand, the importance of unaided brand awareness when itcomes to consumers’ buying decision and, on the other hand, the importanceof aided brand awareness when assessing the perceived risk associated withthe purchase. The analysis is conducted in a comparative manner,considering the case of durable versus non-durable products, and with focuson urban Romanian consumers.

  7. Risk Communication Emergency Response Preparedness: Contextual Assessment of the Protective Action Decision Model.

    Science.gov (United States)

    Heath, Robert L; Lee, Jaesub; Palenchar, Michael J; Lemon, Laura L

    2018-02-01

    Studies are continuously performed to improve risk communication campaign designs to better prepare residents to act in the safest manner during an emergency. To that end, this article investigates the predictive ability of the protective action decision model (PADM), which links environmental and social cues, predecision processes (attention, exposure, and comprehension), and risk decision perceptions (threat, alternative protective actions, and stakeholder norms) with protective action decision making. This current quasi-longitudinal study of residents (N = 400 for each year) in a high-risk (chemical release) petrochemical manufacturing community investigated whether PADM core risk perceptions predict protective action decision making. Telephone survey data collected at four intervals (1995, 1998, 2002, 2012) reveal that perceptions of protective actions and stakeholder norms, but not of threat, currently predict protective action decision making (intention to shelter in place). Of significance, rather than threat perceptions, perception of Wally Wise Guy (a spokes-character who advocates shelter in place) correlates with perceptions of protective action, stakeholder norms, and protective action decision making. Wally's response-efficacy advice predicts residents' behavioral intentions to shelter in place, thereby offering contextually sensitive support and refinement for PADM. © 2017 Society for Risk Analysis.

  8. Do beef risk perceptions or risk attitudes have a greater effect on the beef purchase decisions of Canadian consumers?

    Science.gov (United States)

    Yang, Jun; Goddard, Ellen

    2011-01-01

    Cluster analysis is applied in this study to group Canadian households by two characteristics, their risk perceptions and risk attitudes toward beef. There are some similarities in demographic profiles, meat purchases, and bovine spongiform encephalopathy (BSE) media recall between the cluster that perceives beef to be the most risky and the cluster that has little willingness to accept the risks of eating beef. There are similarities between the medium risk perception cluster and the medium risk attitude cluster, as well as between the cluster that perceives beef to have little risk and the cluster that is most willing to accept the risks of eating beef. Regression analysis shows that risk attitudes have a larger impact on household-level beef purchasing decisions than do risk perceptions for all consumer clusters. This implies that it may be more effective to undertake policies that reduce the risks associated with eating beef, instead of enhancing risk communication to improve risk perceptions. Only for certain clusters with higher willingness to accept the risks of eating beef might enhancing risk communication increase beef consumption significantly. The different role of risk perceptions and risk attitudes in beef consumption needs to be recognized during the design of risk management policies.

  9. Interventionist and participatory approaches to flood risk mitigation decisions: two case studies in the Italian Alps

    Science.gov (United States)

    Bianchizza, C.; Del Bianco, D.; Pellizzoni, L.; Scolobig, A.

    2012-04-01

    Flood risk mitigation decisions pose key challenges not only from a technical but also from a social, economic and political viewpoint. There is an increasing demand for improving the quality of these processes by including different stakeholders - and especially by involving the local residents in the decision making process - and by guaranteeing the actual improvement of local social capacities during and after the decision making. In this paper we analyse two case studies of flood risk mitigation decisions, Malborghetto-Valbruna and Vipiteno-Sterzing, in the Italian Alps. In both of them, mitigation works have been completed or planned, yet following completely different approaches especially in terms of responses of residents and involvement of local authorities. In Malborghetto-Valbruna an 'interventionist' approach (i.e. leaning towards a top down/technocratic decision process) was used to make decisions after the flood event that affected the municipality in the year 2003. In Vipiteno-Sterzing, a 'participatory' approach (i.e. leaning towards a bottom-up/inclusive decision process) was applied: decisions about risk mitigation measures were made by submitting different projects to the local citizens and by involving them in the decision making process. The analysis of the two case studies presented in the paper is grounded on the results of two research projects. Structured and in-depth interviews, as well as questionnaire surveys were used to explore residents' and local authorities' orientations toward flood risk mitigation. Also a SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) involving key stakeholders was used to better understand the characteristics of the communities and their perception of flood risk mitigation issues. The results highlight some key differences between interventionist and participatory approaches, together with some implications of their adoption in the local context. Strengths and weaknesses of the two approaches

  10. Application of a web-based Decision Support System in risk management

    Science.gov (United States)

    Aye, Zar Chi; Jaboyedoff, Michel; Derron, Marc-Henri

    2013-04-01

    Increasingly, risk information is widely available with the help of advanced technologies such as earth observation satellites, global positioning technologies, coupled with hazard modeling and analysis, and geographical information systems (GIS). Even though it exists, no effort will be put into action if it is not properly presented to the decision makers. These information need to be communicated clearly and show its usefulness so that people can make better informed decision. Therefore, communicating available risk information has become an important challenge and decision support systems have been one of the significant approaches which can help not only in presenting risk information to the decision makers but also in making efficient decisions while reducing human resources and time needed. In this study, the conceptual framework of an internet-based decision support system is presented to highlight its importance role in risk management framework and how it can be applied in case study areas chosen. The main purpose of the proposed system is to facilitate the available risk information in risk reduction by taking into account of the changes in climate, land use and socio-economic along with the risk scenarios. It allows the users to formulate, compare and select risk reduction scenarios (mainly for floods and landslides) through an enhanced participatory platform with diverse stakeholders' involvement in the decision making process. It is based on the three-tier (client-server) architecture which integrates web-GIS plus DSS functionalities together with cost benefit analysis and other supporting tools. Embedding web-GIS provides its end users to make better planning and informed decisions referenced to a geographical location, which is the one of the essential factors in disaster risk reduction programs. Different risk reduction measures of a specific area (local scale) will be evaluated using this web-GIS tool, available risk scenarios obtained from

  11. Quantifying uncertainty in pest risk maps and assessments: adopting a risk-averse decision maker’s perspective

    Directory of Open Access Journals (Sweden)

    Denys Yemshanov

    2013-09-01

    Full Text Available Pest risk maps are important decision support tools when devising strategies to minimize introductions of invasive organisms and mitigate their impacts. When possible management responses to an invader include costly or socially sensitive activities, decision-makers tend to follow a more certain (i.e., risk-averse course of action. We presented a new mapping technique that assesses pest invasion risk from the perspective of a risk-averse decision maker.We demonstrated the method by evaluating the likelihood that an invasive forest pest will be transported to one of the U.S. states or Canadian provinces in infested firewood by visitors to U.S. federal campgrounds. We tested the impact of the risk aversion assumption using distributions of plausible pest arrival scenarios generated with a geographically explicit model developed from data documenting camper travel across the study area. Next, we prioritized regions of high and low pest arrival risk via application of two stochastic ordering techniques that employed, respectively, first- and second-degree stochastic dominance rules, the latter of which incorporated the notion of risk aversion. We then identified regions in the study area where the pest risk value changed considerably after incorporating risk aversion.While both methods identified similar areas of highest and lowest risk, they differed in how they demarcated moderate-risk areas. In general, the second-order stochastic dominance method assigned lower risk rankings to moderate-risk areas. Overall, this new method offers a better strategy to deal with the uncertainty typically associated with risk assessments and provides a tractable way to incorporate decision-making preferences into final risk estimates, and thus helps to better align these estimates with particular decision-making scenarios about a pest organism of concern. Incorporation of risk aversion also helps prioritize the set of locations to target for inspections and

  12. Two approaches to incorporate clinical data uncertainty into multiple criteria decision analysis for benefit-risk assessment of medicinal products.

    Science.gov (United States)

    Wen, Shihua; Zhang, Lanju; Yang, Bo

    2014-07-01

    The Problem formulation, Objectives, Alternatives, Consequences, Trade-offs, Uncertainties, Risk attitude, and Linked decisions (PrOACT-URL) framework and multiple criteria decision analysis (MCDA) have been recommended by the European Medicines Agency for structured benefit-risk assessment of medicinal products undergoing regulatory review. The objective of this article was to provide solutions to incorporate the uncertainty from clinical data into the MCDA model when evaluating the overall benefit-risk profiles among different treatment options. Two statistical approaches, the δ-method approach and the Monte-Carlo approach, were proposed to construct the confidence interval of the overall benefit-risk score from the MCDA model as well as other probabilistic measures for comparing the benefit-risk profiles between treatment options. Both approaches can incorporate the correlation structure between clinical parameters (criteria) in the MCDA model and are straightforward to implement. The two proposed approaches were applied to a case study to evaluate the benefit-risk profile of an add-on therapy for rheumatoid arthritis (drug X) relative to placebo. It demonstrated a straightforward way to quantify the impact of the uncertainty from clinical data to the benefit-risk assessment and enabled statistical inference on evaluating the overall benefit-risk profiles among different treatment options. The δ-method approach provides a closed form to quantify the variability of the overall benefit-risk score in the MCDA model, whereas the Monte-Carlo approach is more computationally intensive but can yield its true sampling distribution for statistical inference. The obtained confidence intervals and other probabilistic measures from the two approaches enhance the benefit-risk decision making of medicinal products. Copyright © 2014 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  13. Relation between Belief and Performance in Perceptual Decision Making

    Science.gov (United States)

    Drugowitsch, Jan; Moreno-Bote, Rubén; Pouget, Alexandre

    2014-01-01

    In an uncertain and ambiguous world, effective decision making requires that subjects form and maintain a belief about the correctness of their choices, a process called meta-cognition. Prediction of future outcomes and self-monitoring are only effective if belief closely matches behavioral performance. Equality between belief and performance is also critical for experimentalists to gain insight into the subjects' belief by simply measuring their performance. Assuming that the decision maker holds the correct model of the world, one might indeed expect that belief and performance should go hand in hand. Unfortunately, we show here that this is rarely the case when performance is defined as the percentage of correct responses for a fixed stimulus, a standard definition in psychophysics. In this case, belief equals performance only for a very narrow family of tasks, whereas in others they will only be very weakly correlated. As we will see it is possible to restore this equality in specific circumstances but this remedy is only effective for a decision-maker, not for an experimenter. We furthermore show that belief and performance do not match when conditioned on task difficulty – as is common practice when plotting the psychometric curve – highlighting common pitfalls in previous neuroscience work. Finally, we demonstrate that miscalibration and the hard-easy effect observed in humans' and other animals' certainty judgments could be explained by a mismatch between the experimenter's and decision maker's expected distribution of task difficulties. These results have important implications for experimental design and are of relevance for theories that aim to unravel the nature of meta-cognition. PMID:24816801

  14. Relation between belief and performance in perceptual decision making.

    Science.gov (United States)

    Drugowitsch, Jan; Moreno-Bote, Rubén; Pouget, Alexandre

    2014-01-01

    In an uncertain and ambiguous world, effective decision making requires that subjects form and maintain a belief about the correctness of their choices, a process called meta-cognition. Prediction of future outcomes and self-monitoring are only effective if belief closely matches behavioral performance. Equality between belief and performance is also critical for experimentalists to gain insight into the subjects' belief by simply measuring their performance. Assuming that the decision maker holds the correct model of the world, one might indeed expect that belief and performance should go hand in hand. Unfortunately, we show here that this is rarely the case when performance is defined as the percentage of correct responses for a fixed stimulus, a standard definition in psychophysics. In this case, belief equals performance only for a very narrow family of tasks, whereas in others they will only be very weakly correlated. As we will see it is possible to restore this equality in specific circumstances but this remedy is only effective for a decision-maker, not for an experimenter. We furthermore show that belief and performance do not match when conditioned on task difficulty--as is common practice when plotting the psychometric curve--highlighting common pitfalls in previous neuroscience work. Finally, we demonstrate that miscalibration and the hard-easy effect observed in humans' and other animals' certainty judgments could be explained by a mismatch between the experimenter's and decision maker's expected distribution of task difficulties. These results have important implications for experimental design and are of relevance for theories that aim to unravel the nature of meta-cognition.

  15. The role of risk aversion in non-conscious decision making.

    Science.gov (United States)

    Wang, Shuo; Krajbich, Ian; Adolphs, Ralph; Tsuchiya, Naotsugu

    2012-01-01

    To what extent can people choose advantageously without knowing why they are making those choices? This hotly debated question has capitalized on the Iowa Gambling Task (IGT), in which people often learn to choose advantageously without appearing to know why. However, because the IGT is unconstrained in many respects, this finding remains debated and other interpretations are possible (e.g., risk aversion, ambiguity aversion, limits of working memory, or insensitivity to reward/punishment can explain the finding of the IGT). Here we devised an improved variant of the IGT in which the deck-payoff contingency switches after subjects repeatedly choose from a good deck, offering the statistical power of repeated within-subject measures based on learning the reward contingencies associated with each deck. We found that participants exhibited low confidence in their choices, as probed with post-decision wagering, despite high accuracy in selecting advantageous decks in the task, which is putative evidence for non-conscious decision making. However, such a behavioral dissociation could also be explained by risk aversion, a tendency to avoid risky decisions under uncertainty. By explicitly measuring risk aversion for each individual, we predicted subjects' post-decision wagering using Bayesian modeling. We found that risk aversion indeed does play a role, but that it did not explain the entire effect. Moreover, independently measured risk aversion was uncorrelated with risk aversion exhibited during our version of the IGT, raising the possibility that the latter risk aversion may be non-conscious. Our findings support the idea that people can make optimal choices without being fully aware of the basis of their decision. We suggest that non-conscious decision making may be mediated by emotional feelings of risk that are based on mechanisms distinct from those that support cognitive assessment of risk.

  16. BEHAVIORAL DECISION-THEORY AND ENVIRONMENTAL RISK MANAGEMENT - ASSESSMENT AND RESOLUTION OF 4 SURVIVAL DILEMMAS

    NARCIS (Netherlands)

    VLEK, C; KEREN, G

    Environmental degradation and the call for 'sustainable development' provide an extended context and new challenges for decision-theoretic research on risk assessment and management. We characterize environmental risk management as the resolution of four different types of 'survival' dilemmas in

  17. A decision-support scheme for mapping endangered areas in pest risk analysis

    NARCIS (Netherlands)

    Baker, R.H.A.; Benninga, J.; Bremmer, J.; Brunel, S.; Dupin, M.; Eyre, D.; Ilieva, Z.; Jarosik, V.; Kehlenbeck, H.; Kriticos, D.J.; Makowski, D.; Pergl, J.; Reynaud, P.; Robinet, C.; Soliman, T.; Werf, van der W.; Worner, S.

    2012-01-01

    This paper describes a decision-support scheme (DSS) for mapping the area where economically important loss is likely to occur (the endangered area). It has been designed by the PRATIQUE project to help pest risk analysts address the numerous risk mapping challenges and decide on the most suitable

  18. An approach for using risk assessment in risk-informed decisions on plant-specific changes to the licensing basis

    International Nuclear Information System (INIS)

    Caruso, Mark A.; Cheok, Michael C.; Cunningham, Mark A.; Holahan, Gary M.; King, Thomas L.; Parry, Gareth W.; Ramey-Smith, Ann M.; Rubin, Mark P.; Thadani, Ashok C.

    1999-01-01

    This paper discusses an acceptable approach that the US Nuclear Regulatory Commission staff has proposed for using Probabilistic Risk Assessment in making decisions on changes to the licensing basis of a nuclear power plant. First, the overall philosophy of risk-informed decision-making, and the process framework are described. The philosophy is encapsulated in five principles, one of which states that, if the proposed change leads to an increase in core damage frequency or risk, the increases must be small and consistent with the intent of the Nuclear Regulatory Commission's Safety Goal Policy Statement. The second part of the paper discusses the use of PRA to demonstrate that this principle has been met. The discussion focuses on the acceptance guidelines, and on comparison of the PRA results with those guidelines. The difficulties that arise because of limitations in scope and analytical uncertainties are discussed and approaches to accommodate these difficulties in the decision-making are described

  19. Relation Entropy and Transferable Entropy Think of Aggregation on Group Decision Making

    Institute of Scientific and Technical Information of China (English)

    CHENG Qi-yue; QIU Wan-hua; LIU Xiao-feng

    2002-01-01

    In this paper, aggregation question based on group decision making and a single decision making is studied. The theory of entropy is applied to the sets pair analysis. The system of relation entropy and the transferable entropy notion are put. The character is studied. An potential by the relation entropy and transferable entropy are defined. It is the consistency measure on the group between a single decision making. We gained a new aggregation effective definition on the group misjudge.

  20. Aviation System Safety and Pilot Risk Perception: Implications for Enhancing Decision-Making Skills

    Science.gov (United States)

    Green, Mavis F.

    2001-01-01

    This research explores risk perception in a defined population of flight instructors and the implications of these views for flight training. Flight instructors and students engaged in collegiate aviation flight training were interviewed for this qualitative study. Thirty-three percent of the instructors interviewed reported that flying is not a risky activity. This is important because research identifies risk perception as one factor influencing instructional choices. These choices can then impact the subsequent decision-making processes of flight students. Facilitating pilot decision-making through the use of an appropriate type of learning that incorporates the modeling of consensually validated cognitive procedures and risk management processes is discussed.

  1. Public values related to decisions in the Tank Waste Remediation System Program

    International Nuclear Information System (INIS)

    Armacost, L.L.; Robershotte, M.; von Winterfeldt, D.; Creighton, J.

    1994-10-01

    Managers of the Tank Waste Remediation System (TWRS) Program have to make numerous decisions, ranging from the strategic decisions on the fundamental tank cleanup goals to technical decisions on which types of equipment to use in mechanical retrieval of wastes. Furthermore, many of these decisions have to be made repeatedly (e.g., the annual allocation of research and development funds to TWRS activities). These decisions have many potential consequences in terms of risks to workers, risks to the public, environmental impacts, and economic development and cost. Because these consequences affect the values of many parties, the consequences need to be evaluated in terms that are accepted and understood by the interested parties. Therefore, an effort needs to be made to incorporate public concerns and values into the TWRS decision-making process. The purpose of this report is to review and integrate this past work on values and to create a maser list of values in order to create a consistent value framework for the numerous TWRS decisions; efficiently and effectively use public values in the decision-making process by updating this report on a regular basis to ensure that the information represents the public's current views; provide guidance about using values in technical TWRS decisions

  2. The Influence of Emotion Regulation on Decision-making under Risk

    Science.gov (United States)

    Martin, Laura N.; Delgado, Mauricio R.

    2011-01-01

    Cognitive strategies typically involved in regulating negative emotions have recently been shown to also be effective with positive emotions associated with monetary rewards. However, it is less clear how these strategies influence behavior, such as preferences expressed during decision-making under risk, and the underlying neural circuitry. That is, can the effective use of emotion regulation strategies during presentation of a reward-conditioned stimulus influence decision-making under risk and neural structures involved in reward processing such as the striatum? To investigate this question, we asked participants to engage in imagery-focused regulation strategies during the presentation of a cue that preceded a financial decision-making phase. During the decision phase, participants then made a choice between a risky and a safe monetary lottery. Participants who successfully used cognitive regulation, as assessed by subjective ratings about perceived success and facility in implementation of strategies, made fewer risky choices in comparison to trials where decisions were made in the absence of cognitive regulation. Additionally, blood-oxygen-level-dependent (BOLD) responses in the striatum were attenuated during decision-making as a function of successful emotion regulation. These findings suggest that exerting cognitive control over emotional responses can modulate neural responses associated with reward processing (e.g., striatum), and promote more goal-directed decision-making (e.g., less risky choices), illustrating the potential importance of cognitive strategies in curbing risk-seeking behaviors before they become maladaptive (e.g., substance abuse). PMID:21254801

  3. The influence of emotion regulation on decision-making under risk.

    Science.gov (United States)

    Martin, Laura N; Delgado, Mauricio R

    2011-09-01

    Cognitive strategies typically involved in regulating negative emotions have recently been shown to also be effective with positive emotions associated with monetary rewards. However, it is less clear how these strategies influence behavior, such as preferences expressed during decision-making under risk, and the underlying neural circuitry. That is, can the effective use of emotion regulation strategies during presentation of a reward-conditioned stimulus influence decision-making under risk and neural structures involved in reward processing such as the striatum? To investigate this question, we asked participants to engage in imagery-focused regulation strategies during the presentation of a cue that preceded a financial decision-making phase. During the decision phase, participants then made a choice between a risky and a safe monetary lottery. Participants who successfully used cognitive regulation, as assessed by subjective ratings about perceived success and facility in implementation of strategies, made fewer risky choices in comparison with trials where decisions were made in the absence of cognitive regulation. Additionally, BOLD responses in the striatum were attenuated during decision-making as a function of successful emotion regulation. These findings suggest that exerting cognitive control over emotional responses can modulate neural responses associated with reward processing (e.g., striatum) and promote more goal-directed decision-making (e.g., less risky choices), illustrating the potential importance of cognitive strategies in curbing risk-seeking behaviors before they become maladaptive (e.g., substance abuse).

  4. Applications of decision analysis and related techniques to industrial engineering problems at KSC

    Science.gov (United States)

    Evans, Gerald W.

    1995-01-01

    This report provides: (1) a discussion of the origination of decision analysis problems (well-structured problems) from ill-structured problems; (2) a review of the various methodologies and software packages for decision analysis and related problem areas; (3) a discussion of how the characteristics of a decision analysis problem affect the choice of modeling methodologies, thus providing a guide as to when to choose a particular methodology; and (4) examples of applications of decision analysis to particular problems encountered by the IE Group at KSC. With respect to the specific applications at KSC, particular emphasis is placed on the use of the Demos software package (Lumina Decision Systems, 1993).

  5. NRG Oncology/National Surgical Adjuvant Breast and Bowel Project Decision-Making Project-1 Results: Decision Making in Breast Cancer Risk Reduction.

    Science.gov (United States)

    Holmberg, Christine; Bandos, Hanna; Fagerlin, Angela; Bevers, Therese B; Battaglia, Tracy A; Wickerham, D Lawrence; McCaskill-Stevens, Worta J

    2017-11-01

    Selective estrogen receptor modulators (SERMs) reduce breast cancer risk. Adoption of SERMs as prevention medication remains low. This is the first study to quantify social, cultural, and psychologic factors driving decision making regarding SERM use in women counseled on breast cancer prevention options. A survey study was conducted with women counseled by a health care provider (HCP) about SERMs. A statistical comparison of responses was performed between those who decided to use and those who decided not to use SERMs. Independent factors associated with the decision were determined using logistic regression. Of 1,023 participants, 726 made a decision: 324 (44.6%) decided to take a SERM and 402 (55.4%) decided not to. The most important factor for deciding on SERM use was the HCP recommendation. Other characteristics associated with the decision included attitudes and perceptions regarding medication intake, breast cancer worry, trust in HCP, family members with blood clots, and others' experiences with SERMs. The odds of SERM intake when HCP recommended were higher for participants with a positive attitude toward taking medications than for those with a negative attitude ( P interaction = 0.01). This study highlights the importance of social and cultural aspects for SERM decision making, most importantly personal beliefs and experiences. HCPs' recommendations play a statistically significant role in decision making and are more likely to be followed if in line with patients' attitudes. Results indicate the need for developing interventions for HCPs that not only focus on the presentation of medical information but, equally as important, on addressing patients' beliefs and experiences. Cancer Prev Res; 10(11); 625-34. ©2017 AACR See related editorial by Crew, p. 609 . ©2017 American Association for Cancer Research.

  6. Prospect theory on the brain? Toward a cognitive neuroscience of decision under risk.

    Science.gov (United States)

    Trepel, Christopher; Fox, Craig R; Poldrack, Russell A

    2005-04-01

    Most decisions must be made without advance knowledge of their consequences. Economists and psychologists have devoted much attention to modeling decisions made under conditions of risk in which options can be characterized by a known probability distribution over possible outcomes. The descriptive shortcomings of classical economic models motivated the development of prospect theory (D. Kahneman, A. Tversky, Prospect theory: An analysis of decision under risk. Econometrica, 4 (1979) 263-291; A. Tversky, D. Kahneman, Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5 (4) (1992) 297-323) the most successful behavioral model of decision under risk. In the prospect theory, subjective value is modeled by a value function that is concave for gains, convex for losses, and steeper for losses than for gains; the impact of probabilities are characterized by a weighting function that overweights low probabilities and underweights moderate to high probabilities. We outline the possible neural bases of the components of prospect theory, surveying evidence from human imaging, lesion, and neuropharmacology studies as well as animal neurophysiology studies. These results provide preliminary suggestions concerning the neural bases of prospect theory that include a broad set of brain regions and neuromodulatory systems. These data suggest that focused studies of decision making in the context of quantitative models may provide substantial leverage towards a fuller understanding of the cognitive neuroscience of decision making.

  7. Rent pricing decision support mathematical model for finance leases under effective risks

    Directory of Open Access Journals (Sweden)

    Rabbani Masoud

    2015-01-01

    Full Text Available Nowadays, leasing has become an increasingly important and popular method for equipment acquisition. But, because of the rent pricing difficulties and some risks that affect the lessor and lessee's decision making, there are many people that still tend to buy equipment instead of lease it. In this paper we explore how risk can affect the leasing issue support mathematical model. For this purpose, we consider three types of risk; Credit risk, Transaction risk and Risk based pricing. In particular, our focus was on how to make decision about rent pricing in a leasing problem with different customers, various quality levels and different pricing methods. Finally, the mathematical model has been solved by Genetic Algorithm that is a search heuristic to optimize the problem. This algorithm was coded in MATLAB® R2012a to provide the best set of results.

  8. Combination of uncertainty theories and decision-aiding methods for natural risk management in a context of imperfect information

    Science.gov (United States)

    Tacnet, Jean-Marc; Dupouy, Guillaume; Carladous, Simon; Dezert, Jean; Batton-Hubert, Mireille

    2017-04-01

    In mountain areas, natural phenomena such as snow avalanches, debris-flows and rock-falls, put people and objects at risk with sometimes dramatic consequences. Risk is classically considered as a combination of hazard, the combination of the intensity and frequency of the phenomenon, and vulnerability which corresponds to the consequences of the phenomenon on exposed people and material assets. Risk management consists in identifying the risk level as well as choosing the best strategies for risk prevention, i.e. mitigation. In the context of natural phenomena in mountainous areas, technical and scientific knowledge is often lacking. Risk management decisions are therefore based on imperfect information. This information comes from more or less reliable sources ranging from historical data, expert assessments, numerical simulations etc. Finally, risk management decisions are the result of complex knowledge management and reasoning processes. Tracing the information and propagating information quality from data acquisition to decisions are therefore important steps in the decision-making process. One major goal today is therefore to assist decision-making while considering the availability, quality and reliability of information content and sources. A global integrated framework is proposed to improve the risk management process in a context of information imperfection provided by more or less reliable sources: uncertainty as well as imprecision, inconsistency and incompleteness are considered. Several methods are used and associated in an original way: sequential decision context description, development of specific multi-criteria decision-making methods, imperfection propagation in numerical modeling and information fusion. This framework not only assists in decision-making but also traces the process and evaluates the impact of information quality on decision-making. We focus and present two main developments. The first one relates to uncertainty and imprecision

  9. Relating cost-benefit analysis results with transport project decisions in the Netherlands

    NARCIS (Netherlands)

    Annema, Jan Anne; Frenken, Koen|info:eu-repo/dai/nl/207145253; Koopmans, Carl; Kroesen, Maarten

    2017-01-01

    This paper relates the cost-benefit analysis (CBA) results of transportation policy proposals in the Netherlands with the decision to implement or abandon the proposal. The aim of this study is to explore the relation between the CBA results and decision-making. Multinomial logit regression models

  10. Relating cost-benefit analysis results with transport project decisions in the Netherlands

    NARCIS (Netherlands)

    Annema, J.A.; Frenken, Koen; Koopmans, Carl; Kroesen, M.

    2017-01-01

    This paper relates the cost-benefit analysis (CBA) results of transportation policy proposals in the Netherlands with the decision to implement or abandon the proposal. The aim of this study is to explore the relation between the CBA results and decision-making. Multinomial logit regression

  11. Effects of selective serotonin reuptake inhibition on neural activity related to risky decisions and monetary rewards in healthy males

    DEFF Research Database (Denmark)

    Macoveanu, Julian; Fisher, Patrick M; Haahr, Mette E

    2014-01-01

    the involvement of the normally functioning 5HT-system in decision-making under risk and processing of monetary rewards. The data