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A game-theoretical approach for reciprocal security-related prevention investment decisions

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  • Reniers, Genserik
  • Soudan, Karel

Abstract

Every company situated within a chemical cluster faces important security risks from neighbouring companies. Investing in reciprocal security preventive measures is therefore necessary to avoid major accidents. These investments do not, however, provide a direct return on investment for the investor-company and thus plants are hesitative to invest. Moreover, there is likelihood that even if a company has fully invested in reciprocal security prevention, its neighbour has not, and as a result the company can experience a major accident caused by an initial (minor or major) accident that occurred in an adjacent chemical enterprise. In this article we employ a game-theoretic approach to interpret and model behaviour of two neighbouring chemical plants while negotiating and deciding on reciprocal security prevention investments.

Suggested Citation

  • Reniers, Genserik & Soudan, Karel, 2010. "A game-theoretical approach for reciprocal security-related prevention investment decisions," Reliability Engineering and System Safety, Elsevier, vol. 95(1), pages 1-9.
    • Handle: RePEc:eee:reensy:v:95:y:2010:i:1:p:1-9
    DOI: 10.1016/j.ress.2009.07.001
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Can Xie & Hongxia Li & Lei Chen, 2023. "A Three-Party Decision Evolution Game Analysis of Coal Companies and Miners under China’s Government Safety Special Rectification Action," Mathematics, MDPI, vol. 11(23), pages 1-23, November.
    2. Zhang, Laobing & Reniers, Genserik & Qiu, Xiaogang, 2019. "Playing chemical plant protection game with distribution-free uncertainties," Reliability Engineering and System Safety, Elsevier, vol. 191(C).
    3. Wu Jun & Yang Hui & Cheng Yuan, 2015. "Domino Effect Analysis, Assessment and Prevention in Process Industries," Journal of Systems Science and Information, De Gruyter, vol. 3(6), pages 481-498, December.
    4. Byungtae Yoo & Sang D. Choi, 2019. "Emergency Evacuation Plan for Hazardous Chemicals Leakage Accidents Using GIS-based Risk Analysis Techniques in South Korea," IJERPH, MDPI, vol. 16(11), pages 1-14, June.
    5. Zhengqiu Zhu & Bin Chen & Genserik Reniers & Laobing Zhang & Sihang Qiu & Xiaogang Qiu, 2017. "Playing Chemical Plant Environmental Protection Games with Historical Monitoring Data," IJERPH, MDPI, vol. 14(10), pages 1-23, September.
    6. Chen, Chao & Reniers, Genserik & Khakzad, Nima, 2019. "Integrating safety and security resources to protect chemical industrial parks from man-made domino effects: A dynamic graph approach," Reliability Engineering and System Safety, Elsevier, vol. 191(C).
    7. Levitin, Gregory & Hausken, Kjell, 2010. "Influence of attacker's target recognition ability on defense strategy in homogeneous parallel systems," Reliability Engineering and System Safety, Elsevier, vol. 95(5), pages 565-572.
    8. Landucci, Gabriele & Reniers, Genserik & Cozzani, Valerio & Salzano, Ernesto, 2015. "Vulnerability of industrial facilities to attacks with improvised explosive devices aimed at triggering domino scenarios," Reliability Engineering and System Safety, Elsevier, vol. 143(C), pages 53-62.
    9. Lauro J. Martinez & Shital A. Thekdi & James H. Lambert, 2013. "Modeling energy facility regulatory compliance with application to multi-scale liquefied natural gas facilities," Environment Systems and Decisions, Springer, vol. 33(3), pages 404-412, September.
    10. Gao, Xing & Zhong, Weijun & Mei, Shue, 2013. "A game-theory approach to configuration of detection software with decision errors," Reliability Engineering and System Safety, Elsevier, vol. 119(C), pages 35-43.
    11. Ding, Tao & Yao, Li & Li, Fangxing, 2018. "A multi-uncertainty-set based two-stage robust optimization to defender–attacker–defender model for power system protection," Reliability Engineering and System Safety, Elsevier, vol. 169(C), pages 179-186.

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