Title: On understanding the risk concept

Authors: Zhanglin Guo, Jing Tian, Huiqiang Sui

Addresses: School of Economics and Management, Hebei University of Engineering, Handan 056038, China. ' School of Economics and Management, Hebei University of Engineering, Handan 056038, China. ' School of Economics and Management, Hebei University of Engineering, Handan 056038, China

Abstract: Risk is everywhere, and people have to cope with risks. In order to establish a scientific theory of risk, three core problems should be solved. They are how to define risk, how to express risk in a proper mathematical form and how to measure risk. On the basis of a common understanding between domestic and foreign scholars on risk definition, a complete risk definition is presented based on uncertain information. Five basic attributes of risk are given: harmfulness, possibilities, dynamism, subjection and complementarity. Then, a detailed description of each attribute is given, especially on harmfulness, considered to be the essential attribute.

Keywords: risk theory; risk concepts; risk attributes; risk definition; risk measurement; risk assessment; nuclear power; nuclear energy.

DOI: 10.1504/IJNGEE.2008.018334

International Journal of Nuclear Governance, Economy and Ecology, 2008 Vol.2 No.2, pp.166 - 174

Published online: 16 May 2008 *

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