Risk Evaluation in Decision Making in Risk Situations

Risk Evaluation in Decision Making in Risk Situations

We analyze the components of uncertainty in decision making and consider a risk evaluation model in decision making in a risk situation in economic activities. A modified cost-benefit criterion is proposed for decision making for implementing a project, taking into account the average losses due to...

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Veröffentlicht in:Measurement techniques 2005-09, Vol.48 (9), p.874-877
Hauptverfasser: Radaev, N. N., Borid'ko, S. I.
Format: Artikel
Sprache:eng
Schlagworte:
Cost engineering
Criteria
Decision making
Economic analysis
Risk
Uncertainty
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Beschreibung
Zusammenfassung:We analyze the components of uncertainty in decision making and consider a risk evaluation model in decision making in a risk situation in economic activities. A modified cost-benefit criterion is proposed for decision making for implementing a project, taking into account the average losses due to wrong decisions.[PUBLICATION ABSTRACT]
ISSN:0543-1972
1573-8906
DOI:10.1007/s11018-005-0237-3