Foundations of Risk Analysis: A Knowledge and Decision-Oriented Perspective

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Foundations of Risk Analysis: A Knowledge and Decision-Oriented Perspective
By Terje Aven


Publisher:  Wiley
Number Of Pages:  206
Publication Date:  2003-11-14
Sales Rank:  644343
ISBN / ASIN:  0471495484
EAN:  9780471495482
Binding:  Hardcover
Manufacturer:  Wiley
Studio:  Wiley
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Book Description:

Everyday we face decisions that carry an element of risk and uncertainty. The ability to analyse, communicate and control the level of risk entailed by these decisions remains one of the most pressing challenges to the analyst, scientist and manager. This book presents the foundational issues in risk analysis - expressing risk, understanding what risk means, building risk models, addressing uncertainty, and applying probability models to real problems. The principal aim of the book is to give the reader the knowledge and basic thinking they require to approach risk and uncertainty to support decision making.
* Presents a statistical framework for dealing with risk and uncertainty.
* Includes detailed coverage of building and applying risk models and methods.
* Offers new perspectives on risk, risk assessment and the use of parametric probability models.
* Highlights a number of applications from business and industry.
* Adopts a conceptual approach based on elementary probability calculus and statistical theory.
Foundations of Risk Analysis provides a framework for understanding, conducting and using risk analysis suitable for advanced undergraduates, graduates, analysts and researchers from statistics, engineering, finance, medicine and the physical sciences, as well as for managers facing decision making problems involving risk and uncertainty.



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