Abstract
This article proposes a conceptual framework for ranking the relative gravity of diverse risks. This framework identifies the moral considerations that should inform the evaluation and comparison of diverse risks. A common definition of risk includes two dimensions: the probability of occurrence and the associated consequences of a set of hazardous scenarios. This article first expands this definition to include a third dimension: the source of a risk. The source of a risk refers to the agents involved in the creation or maintenance of a risk and captures a central moral concern about risks. Then, a scale of risk is proposed to categorize risks along a multidimensional ranking, based on a comparative evaluation of the consequences, probability, and source of a given risk. A risk is ranked higher on the scale the larger the consequences, the greater the probability, and the more morally culpable the source. The information from the proposed comparative evaluation of risks can inform the selection of priorities for risk mitigation.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 1208-1227 |
| Number of pages | 20 |
| Journal | Risk Analysis |
| Volume | 34 |
| Issue number | 7 |
| DOIs | |
| State | Published - Jul 2014 |
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Keywords
- Moral considerations
- Ranking
- Risk comparison
- Risk evaluation
- Source
- Taxonomy
ASJC Scopus subject areas
- Safety, Risk, Reliability and Quality
- Physiology (medical)
Cite this
A Scale of Risk. / Gardoni, Paolo; Murphy, Colleen.
In: Risk Analysis, Vol. 34, No. 7, 07.2014, p. 1208-1227.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - A Scale of Risk
AU - Gardoni, Paolo
AU - Murphy, Colleen
PY - 2014/7
Y1 - 2014/7
N2 - This article proposes a conceptual framework for ranking the relative gravity of diverse risks. This framework identifies the moral considerations that should inform the evaluation and comparison of diverse risks. A common definition of risk includes two dimensions: the probability of occurrence and the associated consequences of a set of hazardous scenarios. This article first expands this definition to include a third dimension: the source of a risk. The source of a risk refers to the agents involved in the creation or maintenance of a risk and captures a central moral concern about risks. Then, a scale of risk is proposed to categorize risks along a multidimensional ranking, based on a comparative evaluation of the consequences, probability, and source of a given risk. A risk is ranked higher on the scale the larger the consequences, the greater the probability, and the more morally culpable the source. The information from the proposed comparative evaluation of risks can inform the selection of priorities for risk mitigation.
AB - This article proposes a conceptual framework for ranking the relative gravity of diverse risks. This framework identifies the moral considerations that should inform the evaluation and comparison of diverse risks. A common definition of risk includes two dimensions: the probability of occurrence and the associated consequences of a set of hazardous scenarios. This article first expands this definition to include a third dimension: the source of a risk. The source of a risk refers to the agents involved in the creation or maintenance of a risk and captures a central moral concern about risks. Then, a scale of risk is proposed to categorize risks along a multidimensional ranking, based on a comparative evaluation of the consequences, probability, and source of a given risk. A risk is ranked higher on the scale the larger the consequences, the greater the probability, and the more morally culpable the source. The information from the proposed comparative evaluation of risks can inform the selection of priorities for risk mitigation.
KW - Moral considerations
KW - Ranking
KW - Risk comparison
KW - Risk evaluation
KW - Source
KW - Taxonomy
UR - http://www.scopus.com/inward/record.url?scp=84905006072&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84905006072&partnerID=8YFLogxK
U2 - 10.1111/risa.12150
DO - 10.1111/risa.12150
M3 - Article
AN - SCOPUS:84905006072
VL - 34
SP - 1208
EP - 1227
JO - Risk Analysis
JF - Risk Analysis
SN - 0272-4332
IS - 7
ER -