Optimal risk mitigation and risk-taking


Chapman, C.B. and Harwood, I.A. (2010) Optimal risk mitigation and risk-taking. In, Cochran, James J. (ed.) Wiley Encyclopedia of Operations Research and Management Science. Oxford, UK, Wiley.

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Description/Abstract

Optimal risk mitigation and risk-taking requires optimal framing and working assumptions using an overall optimality concept. Working assumptions should be specific to the context addressed, but framing assumptions and basic tools should be common for all application areas. The role of all three should be keeping any formal analysis as simple as possible, but introducing complexity which pays whenever it pays. This article uses case study examples to illustrate key issues.

Item Type: Book Section
ISBNs: 9780470400630 (hardback)
Related URLs:
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Divisions: University Structure - Pre August 2011 > School of Management
ePrint ID: 71230
Date Deposited: 01 Feb 2010
Last Modified: 27 Mar 2014 18:50
Publisher: Wiley
URI: http://eprints.soton.ac.uk/id/eprint/71230

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