Title: Combinations of risk control and risk financing operations

Authors: Panagiotis T. Artikis, Constantinos T. Artikis

Addresses: Section of Mathematics & Informatics, Pedagogical Department, University of Athens, 20 Hippocratous Str., 10680 Athens, Greece. ' Lamans s.a., Management Services, 56, 3 Septemvriou str., 104 33 Athens, Greece

Abstract: Risk treatment operations combining risk control and risk financing operations constitute very strong tools of modern risk management. The cost of such a risk treatment operation is a fundamental factor for developing and implementing proactive and reactive risk management processes. The present paper mainly concentrates on the formulation and applicability of a stochastic model in the description, analysis and manipulation of the cost of a risk treatment operation incorporating a risk frequency reduction operation and a risk retention operation.

Keywords: risk treatment; risk control; risk financing; stochastic modelling; risk management.

DOI: 10.1504/IJDSRM.2009.031120

International Journal of Decision Sciences, Risk and Management, 2009 Vol.1 No.3/4, pp.234 - 245

Published online: 21 Jan 2010 *

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