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Risk—Its Priority and Probability: The Analytic Hierarchy Process

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  • Thomas L. Saaty

Abstract

Risk estimation involves priorities and probabilities which are themselves a form of priority of natural alternatives. This paper provides illustrations of how one can deal with risk and uncertainty using the Analytic Hierarchy Process, a new approach to measurement by ratio scales. The paper also includes a discussion of how to deal with risk strategies involving interdependence. Particular emphasis is made on the siting of nuclear power plants.

Suggested Citation

  • Thomas L. Saaty, 1987. "Risk—Its Priority and Probability: The Analytic Hierarchy Process," Risk Analysis, John Wiley & Sons, vol. 7(2), pages 159-172, June.
    • Handle: RePEc:wly:riskan:v:7:y:1987:i:2:p:159-172
    DOI: 10.1111/j.1539-6924.1987.tb00980.x
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    References listed on IDEAS

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    1. Fatemeh Zahedi, 1986. "The Analytic Hierarchy Process---A Survey of the Method and its Applications," Interfaces, INFORMS, vol. 16(4), pages 96-108, August.
    2. Saaty, Thomas L. & Takizawa, Masahiro, 1986. "Dependence and independence: From linear hierarchies to nonlinear networks," European Journal of Operational Research, Elsevier, vol. 26(2), pages 229-237, August.
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