Behavioral, Social, and Institutional Aspects of Risk Analysis

by Richard C. Schwing, General Motors Corp, Warren, United States,

Document Type: Proceeding Paper

Part of: Risk-Based Decision Making in Water Resources VI

Abstract: The paper summarizes the third session of the conference which discussed four items that become pitfalls for decision makers when neglected. These are parameter uncertainties as distinct from model uncertainties; differing priorities and agenda among different public bodies; narrowly-conceived resource allocation; and definition of benefit estimates.

Subject Headings: Risk management | Parameters (statistics) | Uncertainty principles | Mathematical models | Resource management | Social factors | Pricing | Decision making

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