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Risk assessment and management - Woordenlijst

6 important questions on Risk assessment and management - Woordenlijst

What is decision theory?

Makes a difference between risky prospects, where the probabilities of potential outcomes are thought to be known, but also includes less certain outcomes, where this type of information is unavailable.

What are voluntary risks?

are considered to be connected with activities humans do choose to undertake as a part of modern life, such as riding a bike / driving a car or drinking a lot of alcohol.

What is objective risk assessment?

consequence of a scientific process. It follows a systematic procedure that wants to prevent personal / emotional elements to make sure the results are valid and reproducible. Subjective assessment is the opposite.

What does social amplification mean?

an important feature of public risk perception (awareness). It happens when factors combine to create an exaggerated fear of a new threat to the individual. Then people seem to believe that the true magnitude of the risk is being hidden from them in some way.

What is a Human Capitial Method?

works on the basis of an individual’s lost future earning capacity in the event of death or accident. It is rather a simple method, which rates the life of a child as most valuable, but does not take into account well the people that are unable to work.

What is 'willingness to pay'?

a better method than Human Capital Method, which finds out how much people are willing to pay to achieve an amount of reduction in their change of a premature death. This method works with risk aversion.