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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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|
|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
|Date Deposited:||01 Feb 2010|
|Last Modified:||02 Mar 2012 11:33|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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