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A virtue ethical account of making decisions about risk

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  • Nafsika Athanassoulis
  • Allison Ross

Abstract

Most discussions of risk are developed in broadly consequentialist terms, focusing on the outcomes of risks as such. This paper will provide an alternative account of risk from a virtue ethical perspective, shifting the focus on the decision to take the risk. Making ethical decisions about risk is, we will argue, not fundamentally about the actual chain of events that the decision sets in process, but about the reasonableness of the decision to take the risk in the first place. A virtue ethical account of risk is needed because the notion of the 'reasonableness' of the decision to take the risk is affected by the complexity of the moral status of particular instances of risk-taking and the risk-taker's responsiveness to these contextual features. The very idea of 'reasonable risk' welcomes judgements about the nature of the risk itself, raises questions about complicity, culpability and responsibility, while at its heart, involves a judgement about the justification of risk which unavoidably focuses our attention on the character of the individuals involved in risk-making decisions.

Suggested Citation

  • Nafsika Athanassoulis & Allison Ross, 2010. "A virtue ethical account of making decisions about risk," Journal of Risk Research, Taylor & Francis Journals, vol. 13(2), pages 217-230, March.
    • Handle: RePEc:taf:jriskr:v:13:y:2010:i:2:p:217-230
    DOI: 10.1080/13669870903126309
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    References listed on IDEAS

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    1. Kristin Shrader‐Frechette, 2000. "Duties to Future Generations, Proxy Consent, Intra‐ and Intergenerational Equity: The Case of Nuclear Waste," Risk Analysis, John Wiley & Sons, vol. 20(6), pages 771-778, December.
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    Cited by:

    1. Daniel J. Rozell, 2018. "The Ethical Foundations of Risk Analysis," Risk Analysis, John Wiley & Sons, vol. 38(8), pages 1529-1533, August.
    2. Kenneth Silver, 2023. "Markets Within the Limit of Feasibility," Journal of Business Ethics, Springer, vol. 182(4), pages 1087-1101, February.
    3. Marina Balboa & Germán López-Espinosa & Antonio Rubia, 2012. "Non-linear Dynamics in Discretionary Accruals: An Analysis of Bank Loan-Loss Provisions," Faculty Working Papers 07/12, School of Economics and Business Administration, University of Navarra.
    4. Johannes Brinkmann, 2013. "Combining Risk and Responsibility Perspectives: First Steps," Journal of Business Ethics, Springer, vol. 112(4), pages 567-583, February.
    5. Max Boholm, 2012. "The Semantic Distinction Between “Risk” and “Danger”: A Linguistic Analysis," Risk Analysis, John Wiley & Sons, vol. 32(2), pages 281-293, February.

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