Use of risk aversion in risk acceptance criteria

Griesmeyer, J. M.; Simpson, M.; Okrent, D.

doi:10.2172/5230500

Title: Use of risk aversion in risk acceptance criteria

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Abstract

Quantitative risk acceptance criteria for technological systems must be both justifiable, based upon societal values and objectives, and workable in the sense that compliance is possible and can be demonstrated in a straightforward manner. Societal values have frequently been assessed using recorded accident statistics on a wide range of human activities assuming that the statistics in some way reflect societal preferences, or by psychometric surveys concerning perceptions and evaluations of risk. Both methods indicate a societal aversion to risk e.g., many small accidents killing a total of 100 people are preferred over one large accident in which 100 lives are lost. Some of the implications of incorporating risk aversion in acceptance criteria are discussed. Calculated risks of various technological systems are converted to expected social costs using various risk aversion factors. The uncertainties in these assessments are also discussed.

Authors:: Griesmeyer, J. M.; Simpson, M.; Okrent, D.

Publication Date:: Sun Jun 01 00:00:00 EDT 1980

Research Org.:: California Univ., Los Angeles (USA). Dept. of Chemical, Nuclear, and Thermal Engineering

Sponsoring Org.:: USDOE Office of Nuclear Energy (NE)

OSTI Identifier:: 5230500

Report Number(s):: ALO-83; UCLA-ENG-7970
TRN: 80-014671

DOE Contract Number:: AS04-78ET35400; AC04-76DP00789

Resource Type:: Technical Report

Country of Publication:: United States

Language:: English

Subject:: 22 GENERAL STUDIES OF NUCLEAR REACTORS; NUCLEAR POWER PLANTS; RISK ASSESSMENT; HUMAN POPULATIONS; PROBABILITY; REACTOR ACCIDENTS; REACTOR SAFETY; ACCIDENTS; NUCLEAR FACILITIES; POPULATIONS; POWER PLANTS; SAFETY; THERMAL POWER PLANTS; 220900* - Nuclear Reactor Technology- Reactor Safety

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                    Griesmeyer, J. M., Simpson, M., and Okrent, D. Use of risk aversion in risk acceptance criteria.  United States: N. p., 1980. 
        Web.  doi:10.2172/5230500.

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                    Griesmeyer, J. M., Simpson, M., & Okrent, D. Use of risk aversion in risk acceptance criteria.  United States.  https://doi.org/10.2172/5230500

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                    Griesmeyer, J. M., Simpson, M., and Okrent, D. 1980.  
        "Use of risk aversion in risk acceptance criteria".  United States.  https://doi.org/10.2172/5230500.  https://www.osti.gov/servlets/purl/5230500.

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@article{osti_5230500,

  title        = {Use of risk aversion in risk acceptance criteria},

  author       = {Griesmeyer, J. M. and Simpson, M. and Okrent, D.},

  abstractNote = {Quantitative risk acceptance criteria for technological systems must be both justifiable, based upon societal values and objectives, and workable in the sense that compliance is possible and can be demonstrated in a straightforward manner. Societal values have frequently been assessed using recorded accident statistics on a wide range of human activities assuming that the statistics in some way reflect societal preferences, or by psychometric surveys concerning perceptions and evaluations of risk. Both methods indicate a societal aversion to risk e.g., many small accidents killing a total of 100 people are preferred over one large accident in which 100 lives are lost. Some of the implications of incorporating risk aversion in acceptance criteria are discussed. Calculated risks of various technological systems are converted to expected social costs using various risk aversion factors. The uncertainties in these assessments are also discussed.},

  doi          = {10.2172/5230500},

  url          = {https://www.osti.gov/biblio/5230500},
  journal      = {},
number       = ,

  volume       = ,

  place        = {United States},

  year         = {Sun Jun 01 00:00:00 EDT 1980},

  month        = {Sun Jun 01 00:00:00 EDT 1980}

}

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