Quantification of risk aversion in decisions related to safety of nuclear power plants

E. J. Cha, B. R. Ellingwood

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Civil infrastructure facilities are exposed to extreme natural and manmade hazards. The public tend to overstate the risks from such hazards that are feared or poorly understood, where the exposure to the population is involuntary in nature, and where fatalities or permanent injury are likely and severe. Such exaggerations of perceived risk influence policy-making and the development of risk mitigation strategies. Regulatory decision-making for nuclear plant safety represents a case that is affected by such exaggerated risk perception. In this paper, we analyze rule-making by the US Nuclear Regulatory Commission (NRC)'s regarding the operation of nuclear plants utilizing cumulative prospect theory (CPT), which permits risk-averse behavior to be modeled in assessing both likelihoods and consequences of a hazardous event.The investigation is extended to different requirements that are influenced by the International Commission on Radiological Protection, leading to an international perspective on the role of risk perception in regulatory decision-making.

Original languageEnglish (US)
Title of host publicationSafety, Reliability, Risk and Life-Cycle Performance of Structures and Infrastructures - Proceedings of the 11th International Conference on Structural Safety and Reliability, ICOSSAR 2013
Pages125-132
Number of pages8
StatePublished - Dec 1 2013
Externally publishedYes
Event11th International Conference on Structural Safety and Reliability, ICOSSAR 2013 - New York, NY, United States
Duration: Jun 16 2013Jun 20 2013

Publication series

NameSafety, Reliability, Risk and Life-Cycle Performance of Structures and Infrastructures - Proceedings of the 11th International Conference on Structural Safety and Reliability, ICOSSAR 2013

Other

Other11th International Conference on Structural Safety and Reliability, ICOSSAR 2013
Country/TerritoryUnited States
CityNew York, NY
Period6/16/136/20/13

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Safety, Risk, Reliability and Quality

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