Title: Formulation and investigation of a stochastic model for proactive treatment of global risk severity

Authors: Constantinos T. Artikis; Panagiotis T. Artikis

Addresses: Department of Tourism, Faculty of Economic Sciences, Ionian University, Corfu, Greece ' Laboratory of Informatics, Section of Mathematics and Informatics, Department of Primary Education, University of Athens, Athens, Greece

Abstract: It is well known that the proactive treatment of global risks constitutes a very strong process of global risk governance. Moreover, it is readily understood that this process is supported by the use of various stochastic discounting models. The present paper concentrates on the formulation and the representation as a random contraction of a stochastic discounting model. The paper also provides an interpretation of the formulated stochastic discounting model in proactive treatment of the severity of a global risk.

Keywords: global risk; model; discounting; random contraction.

DOI: 10.1504/IJASS.2020.108664

International Journal of Applied Systemic Studies, 2020 Vol.9 No.1, pp.26 - 30

Received: 02 Feb 2019
Accepted: 17 Oct 2019
Published online: 24 Jul 2020 *

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