Risk aversion in risk acceptance criteria
The risk averse attitude that is included in some proposed risk acceptance criteria is examined. It is shown that it is a weaker attitude than risk aversion, as is commonly defined in decision theory. Consequently, the boundary curve separating acceptable and unacceptable regions does not have to be a straight line on the logarithmic frequency-consequence space. A curve of variable slope would express the same attitude as long as the slope is less than -1.
- Research Organization:
- California Univ., Los Angeles (USA). School of Engineering and Applied Science
- Sponsoring Organization:
- USDOE Office of Nuclear Energy (NE)
- DOE Contract Number:
- AS04-78ET35400
- OSTI ID:
- 6885641
- Report Number(s):
- ALO--136
- Country of Publication:
- United States
- Language:
- English
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