On The Quantitative Definition of Risk
Risk AnalysisPublished 1 March 1981
Stanley Kaplan, B. John Garrick
Citations3,047
SJR quartileQ1
SJR score0.87
SNIP1.51
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Abstract
A quantitative definition of risk is suggested in terms of the idea of a “set of triplets”. The definition is extended to include uncertainty and completeness, and the use of Bayes' theorem is described in this connection. The definition is used to discuss the notions of “relative risk”, “relativity of risk”, and “acceptability of risk”.
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