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Risk Analysis Strategies in the Water Utility Sector: An Inventory of Applications for Better and More Credible Decision Making

B. H. MacGillivray, P. D. Hamilton, J. E. Strutt, S. J. T. Pollard
2006 Critical reviews in environmental science and technology  
Risk analysis strategies and 17 techniques traditionally applied to public health protection are now seeing broader 18 application for asset management, assessing competition risks and potential threats  ...  Critically in this regard, the transition to an 6 explicit risk management philosophy within the water utility sector is now reflected in 7 recent revisions to the World Health Organisation's (WHO) Guidelines  ...  for the explicit consideration of prediction 8 uncertainties in catchment level risk modelling.  ... 
doi:10.1080/10643380500531171 fatcat:htlreav4s5ehvixgufa42l2i7m

Exploring subjectivity in hazard analysis

F. Redmill
2002 Engineering Management  
Moreover, the method most used for determining cause and effect and for combining probabilities, fault tree analysis, was seen to be dependent on human factors for both its construction and its use.  ...  And suppose that the system would operate at the 10 -6 risk level for 80% of the time, but the 'real' risk would in fact include operation at 10 -3 for 10% of the time and 10 -9 for the other 10%.  ... 
doi:10.1049/em:20020305 fatcat:fqxnbj3agffjjb73iim7ggsf6u

Origins and Resolution of Financial Crises: Lessons from the Current and Northern European Crises

Finn Østrup, Lars Oxelheim, Clas Wihlborg
2009 Asian Economic Papers  
We argue that a financial crisis with its contagion within the system is caused by failures of legal, regulatory, and political institutions One policy implication of our view is that various forms of  ...  Most of the literature on financial crises refers to factors that cause an original disruption in the financial system.  ...  Under Basel I, which was in effect during most of the period leading up to the current crisis, the methods for risk-evaluation were crude and provided incentives for so-called risk arbitrage. 14 Under  ... 
doi:10.1162/asep.2009.8.3.178 fatcat:2e3sndkhp5ef7jxpsebsehr6ii

Prospects for Valuation in Marine Decision Making in Europe

Rob Tinch, Stephen Hynes, Claire Armstrong, Wenting Chen
2022 Journal of Ocean and Coastal Economics  
This output reflects only the authors' view and the European Union cannot be held responsible for any use that may be made of the information contained therein.  ...  Acknowledgments Acknowledgments This work has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreements No 678760 (ATLAS) and No 689518 (MERCES).  ...  This proposal will be subject to an impact assessment including the possibility of an EU-wide methodology to map, assess and achieve good condition of ecosystems (Maes et al., 2020) .  ... 
doi:10.15351/2373-8456.1150 fatcat:lk3tlfwqsre6jdtmmfgqgveb3m

Systemic Contingent Claims Analysis: Estimating Market-Implied Systemic Risk

Andreas A. Jobst, Dale F. Gray
2013 IMF Working Papers  
This paper presents a forward-looking framework ("Systemic CCA") to measure systemic solvency risk based on market-implied expected losses of financial institutions with practical applications for the  ...  financial sector risk management and the system-wide capital assessment in top-down stress testing.  ...  However, by accounting for the time-varying dependence structure, this method links the market-based assessment of each firm's risk profile with the risk characteristics of other firms that are subject  ... 
doi:10.5089/9781475572780.001 fatcat:4urlbz2dk5h7bddvheyvabkdba

Risk-opportunity analysis for transformative policy design and appraisal

Jean-Francois Mercure, Simon Sharpe, Jorge E. Vinuales, Matthew Ives, Michael Grubb, Aileen Lam, Paul Drummond, Hector Pollitt, Florian Knobloch, Femke J.M.M. Nijsse
2021 Global Environmental Change  
We use a review of theoretical principles of complexity science and the science of dynamical systems and formulate a generalisation of existing frameworks for policy analysis and the appraisal of outcomes  ...  Risks are underestimated, and the economic opportunities from innovation are generally not assessed in practice.  ...  Acknowledgments The authors thank policy officers from UK BEIS, HM Treasury and across UK government for support, direction and insights, as well as A. Roventini, F. Lamperti, G. Dosi, A. Jones, C.  ... 
doi:10.1016/j.gloenvcha.2021.102359 fatcat:iiz5nz7uxzc5hddulegavqoima

Review and Evaluation of the J100‐10 Risk and Resilience Management Standard for Water and Wastewater Systems

Thomas Ying‐Jeh Chen, Valerie Nicole Washington, Terje Aven, Seth David Guikema
2019 Risk Analysis  
of risk and resilience at the threat-asset resolution ignores dependencies within the system, and (4) stakeholder values need to be assessed when balancing the tradeoffs between risk reduction and resilience  ...  We present an analysis framework for evaluating such standards and apply it to the J100-10 risk analysis standard for water and wastewater systems.  ...  ACKNOWLEDGEMENTS We thank the University of Michigan for funding this research. The opinions and views expressed are those of the researchers and do not necessarily reflect those of the sponsors.  ... 
doi:10.1111/risa.13421 pmid:31691345 fatcat:j7itcvtfgvcorhzxuev2p3cpi4

Love, Death and Taxes: Applications of Real Options 'in' Economic Systems

Sarah von Helfenstein
2008 Social Science Research Network  
Similar to other systems, economic systems are governed by explicit and implicit rules that affect all agents within the system in varying ways.  ...  The following further develops the notion of sub-corporate risk and reward based on common units of change.  ... 
doi:10.2139/ssrn.1734784 fatcat:57jkxvsh3zh75hqocicbz5nkuq

Governance of Occupational Safety and Health and Environmental Risks [chapter]

Siegfried Radandt, Jorma Rantanen, Ortwin Renn
2008 Topics In Safety, Risk, Reliability And Quality  
But how can generally binding and inter-subjectively valid criteria be made for the valuation of "the common good"?  ...  The preliminary hazard analysis looks for the hazard potentials of a system. The failure hazard analysis examines the causes of failures and their effects.  ... 
doi:10.1007/978-1-4020-8289-4_4 fatcat:ll5pbdrok5c2vdipyj77rfhfba

Exploring Risk-Adjusted Fiscal Sustainability Analysis for Asian Economies

George Kopits, Benno Ferrarini
2016 Social Science Research Network  
In contrast to deterministic methods, the stochastic approach seeks to assess fiscal sustainability explicitly under uncertainty.  ...  As a first step in this endeavor, they are well advised to assess fiscal sustainability under well-identified conditions of risk and uncertainty.  ...  Appendix | 25 Exploring Risk-Adjusted Fiscal Sustainability Analysis for Asian Economies The paper explores risk-based fiscal analytical approaches to deal with risk and uncertainty when conducting debt  ... 
doi:10.2139/ssrn.2811532 fatcat:w4gbxaljgrbbfbqcges3hwal2m

The economics of ecosystem services: from local analysis to national policies

Pushpam Kumar, Eduardo Brondizio, Franz Gatzweiler, John Gowdy, Dolf de Groot, Unai Pascual, Belinda Reyers, Pavan Sukhdev
2013 Current Opinion in Environmental Sustainability  
pre-empt damaging trade-offs based on the implicit valuations that are involved in causing the loss of biodiversity and degradation of ecosystems.  ...  and biodiversity; second, preference uncertainty; and third, technical uncertainty in the application of valuation methods.  ... 
doi:10.1016/j.cosust.2013.02.001 fatcat:al6tcwjywbeopl3xl3wda7tcem

Road tunnel fire safety and risk: a review

Jonatan Gehandler
2015 Fire Science Reviews  
Key parameters for the decision can be analysed through a combination of functional requirements, societal and political values, safety engineering, safety factors and systems theory.  ...  A review concerning road tunnel fire safety and risk is presented. In particular different perspectives and methods on safety and risk are discussed.  ...  The author would like to thank his colleges Haukur Ingason, Anders Lönnermark, Margaret McNamee, Francine Amon and supervisor Håkan Frantzich for valuable comments and support.  ... 
doi:10.1186/s40038-015-0006-6 fatcat:rbk2sraj4vhafmfbrkgsx3b7xi

Measuring Systemic Risk-Adjusted Liquidity (SRL): A Model Approach

Andreas Jobst
2012 IMF Working Papers  
It links a firm's maturity mismatch between assets and liabilities impacting the stability of its funding with those characteristics of other firms, subject to individual changes in risk profiles and common  ...  The model can also accommodate a stress testing approach for institution-specific and/or general funding shocks that generate estimates of systemic liquidity risk (and associated charges) under adverse  ...  The presented findings are derived from valuation models that are subject to varying degrees of estimation uncertainty and assumptions, which need to be taken into account when drawing policy conclusions  ... 
doi:10.5089/9781475505597.001 fatcat:bof4oloelnfopdu7f6vjm33e4e

The use of multi-criteria decision-making methods in the integrated assessment of climate change: implications for IA practitioners

Michelle L Bell, Benjamin F Hobbs, Hugh Ellis
2003 Socio-Economic Planning Sciences  
Participants also evaluated several methods for visualizing tradeoffs under both certainty and uncertainty cases.  ...  Integrated assessment (IA) considers interactions of physical, biological, and human systems in order to assess long-term consequences of environmental and energy policies such as limits on greenhouse  ...  We also thank Emily Elliott and Zachary Robinson for their important contributions to the workshop. Suggestions by the referees, Editor-In-Chief Barnett R.  ... 
doi:10.1016/s0038-0121(02)00047-2 fatcat:2nxhvwxpw5gazk3onglutqyokm

ATLAS Deliverable 5.5: Ocean monetary values to support adaptive marine spatial planning [article]

R Tinch, N Foley, C Armstrong
2021 Zenodo  
The planning approach should be ecosystem based and spatially explicit, and should consider human benefits and impacts, address cumulative impacts, and take account of future activities and changes, with  ...  Marine spatial planning (MSP) is a planning process that uses Ecosystem Based Management (EBM) principles and focuses on the spatially explicit nature of many ocean activities and resources (TEEB 2012,  ...  Sutherland and Wordley (2017) characterise this failure as "evidence complacency" and discuss a number of possible causes.  ... 
doi:10.5281/zenodo.4658968 fatcat:u4oesjhntjemflec6b7vpkwxve
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