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Choosing solutions under risk and uncertainty requires the consideration of several factors. One of the main factors in choosing a solution is modeling the decision maker's attitude to risk. The expected utility theory was the first approach that allowed to correctly model various nuances of the...
Persistent link: https://www.econbiz.de/10013200740
Ecological risks are characterized by a high degree of uncertainty about the chances of unfavorable event outcomes and the losses associated with those outcomes. Subjective expert judgment is widely used when baseline data are insufficient. This introduces additional uncertainties in the results...
Persistent link: https://www.econbiz.de/10014332091
In risk assessment, numerous subfactors influence the probabilities of the main factors. These main factors reflect adverse outcomes, which are essential in risk assessment. A Bayesian network can model the entire set of subfactors and their interconnections. To assess the probabilities of all...
Persistent link: https://www.econbiz.de/10015065969
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