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What Is Wrong with Criterion FN‐Lines for Judging the Tolerability of Risk?

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  • Andrew W. Evans
  • Neville Q. Verlander

Abstract

This paper is concerned with the intellectual framework in which judgments are made about the tolerability of so‐called societal risk. The current practical approach is based on the position of the FN‐curves representing the risks from hazardous systems in relation to criterion FN‐lines. The objections to FN‐criteria are that they can give unreasonable conclusions and that they are inconsistent. Statistical decision theory suggests an alternative and preferable rule of minimising the expected disutility, that is average harm, from accidents.

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  • Andrew W. Evans & Neville Q. Verlander, 1997. "What Is Wrong with Criterion FN‐Lines for Judging the Tolerability of Risk?," Risk Analysis, John Wiley & Sons, vol. 17(2), pages 157-168, April.
    • Handle: RePEc:wly:riskan:v:17:y:1997:i:2:p:157-168
    DOI: 10.1111/j.1539-6924.1997.tb00855.x
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    Cited by:

    1. Louis Anthony (Tony) Cox, Jr., 2012. "Community Resilience and Decision Theory Challenges for Catastrophic Events," Risk Analysis, John Wiley & Sons, vol. 32(11), pages 1919-1934, November.
    2. Christoph M. Rheinberger, 2010. "Experimental Evidence Against the Paradigm of Mortality Risk Aversion," Risk Analysis, John Wiley & Sons, vol. 30(4), pages 590-604, April.
    3. Kasai, Naoya & Matsuhashi, Shigemi & Sekine, Kazuyoshi, 2013. "Accident occurrence model for the risk analysis of industrialfacilities," Reliability Engineering and System Safety, Elsevier, vol. 114(C), pages 71-74.
    4. Tim Bedford, 2013. "Decision Making for Group Risk Reduction: Dealing with Epistemic Uncertainty," Risk Analysis, John Wiley & Sons, vol. 33(10), pages 1884-1898, October.

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