Modeling of risk perception in engineering decision analysis

Michael Havbro Faber Nielsen; M Maes; L Huyse

Modeling of risk perception in engineering decision analysis

Michael Havbro Faber Nielsen, M Maes, L Huyse

Research output: Contribution to conference without publisher/journal › Conference abstract for conference › Research

Abstract

Within the framework of risk based engineering decision making one is often faced with the problem of integrating risk perception into the formulation of the utility function. Often it is felt that the standard linear utility function is inappropriate as it fails to express the increasing undesirability of large consequences. In practical risk assessment various proposals for non-linear utility functions have been suggested and applied.

Original language	English
Publication date	2004
Number of pages	9
Publication status	Published - 2004
Externally published	Yes

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abstract = "Within the framework of risk based engineering decision making one is often faced with the problem of integrating risk perception into the formulation of the utility function. Often it is felt that the standard linear utility function is inappropriate as it fails to express the increasing undesirability of large consequences. In practical risk assessment various proposals for non-linear utility functions have been suggested and applied.",

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M3 - Conference abstract for conference

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