ASCE will be sunsetting the Civil Engineering Database (CEDB) in the coming months. We encourage you to start using the ASCE Library to perform content searches. In the ASCE Library, you can save your search results as well as receive email content alerts when new content relevant to your area of interest is published. Try it out today at https://ascelibrary.org.

 

The Use of Influence Diagrams in Risk Management Involving Multiple Stakeholders

by Y. Hong, Univ of California, Los Angeles, United States,
G. E. Apostolakis, Univ of California, Los Angeles, United States,



Document Type: Proceeding Paper

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

Abstract:

In this paper, a new methodology is proposed that employs influence diagrams to integrate the issues that arise in risk management and to demonstrate the relationship amoung the stakeholders and their objectives. A case study of a contaminated site cleanup is used as an example to help explain this approach. Since there are two stakeholders involved in the case study, two beginning decision nodes, one for each stakeholder, are used in developing the influence diagrams. Each stakeholder has his own influence diagram. Because there is more than one influence diagram, it is impossible to obtain an optimal decision from either one of them without the other. The result of the influence diagram evaluation is a bimatrix of alternative pair values. Game theory utilizes this bimatrix to search for an optimal decision. The bimatrix is the imput information to game theory and the final result is an optimal decision pair that provides a decision acceptable by both stakeholders.

Subject Headings: Risk management | Case studies | Management methods | Game theory | Pollution | Information management | Dispute resolution

Services: Buy this book/Buy this article

 

Return to search