TY - GEN
T1 - Quantification of risk aversion in decisions related to safety of nuclear power plants
AU - Cha, E. J.
AU - Ellingwood, B. R.
PY - 2013
Y1 - 2013
N2 - 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.
AB - 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.
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M3 - Conference contribution
AN - SCOPUS:84892382924
SN - 9781138000865
T3 - Safety, Reliability, Risk and Life-Cycle Performance of Structures and Infrastructures - Proceedings of the 11th International Conference on Structural Safety and Reliability, ICOSSAR 2013
SP - 125
EP - 132
BT - Safety, Reliability, Risk and Life-Cycle Performance of Structures and Infrastructures - Proceedings of the 11th International Conference on Structural Safety and Reliability, ICOSSAR 2013
T2 - 11th International Conference on Structural Safety and Reliability, ICOSSAR 2013
Y2 - 16 June 2013 through 20 June 2013
ER -