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A new perspective for risk management: a study of the design of generic technology with a matroid model in C-K theory

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  • Pascal Le Masson

    (CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique)

  • Benoit Weil

    (CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique)

  • Olga Kokshagina

    (CGS i3 - Centre de Gestion Scientifique i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique)

Abstract

Risk management today has its main roots in decision theory paradigm (Friedman and Savage 1948). It consists in making the optimal choice between given possible decisions and probable states of nature. In this paper we extend this model to include a design capacity to deal with risk situations. A design perspective leads to add a new action possibility in the model: to design a new alternative to deal with the probable states of nature. The new alternative design might also "create" new risks, so that a design perspective leads also to model the emergence of new risks as an exogenous "design process". Hence a design perspective raises two issues: can we design an alternative that would lower the risk? Does this new alternative create new risks? We show (1) that minimizing known risks consists in designing an alternative whose success is independent from all the known risks – this alternative can be considered as a generic technology. We show (2)that the design of this generic technology depends on the structure of the unknown, ie the structure of the space generated by the concept of risk-free alternative. (3) We identify new strategies to deal with risks as dealing with the unknown.

Suggested Citation

  • Pascal Le Masson & Benoit Weil & Olga Kokshagina, 2015. "A new perspective for risk management: a study of the design of generic technology with a matroid model in C-K theory," Post-Print hal-01083249, HAL.
  • Handle: RePEc:hal:journl:hal-01083249
    Note: View the original document on HAL open archive server: https://minesparis-psl.hal.science/hal-01083249v1
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    References listed on IDEAS

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    1. Bresnahan, Timothy F. & Trajtenberg, M., 1995. "General purpose technologies 'Engines of growth'?," Journal of Econometrics, Elsevier, vol. 65(1), pages 83-108, January.
    2. Armand Hatchuel & Benoit Weil & Pascal Le Masson, 2013. "Towards an ontology of design: lessons from C-K design theory and Forcing," Post-Print hal-01485098, HAL.
    3. Olga Kokshagina & Pascal Le Masson & Benoit Weil & Patrick Cogez, 2012. "Platform emergence in double unknown: Common challenge strategy," Post-Print hal-00734111, HAL.
    4. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56(4), pages 279-279.
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    Cited by:

    1. Pascal Le Masson & Armand Hatchuel & Olga Kokshagina & Benoit Weil, 2015. "Generic technique and the dynamics of technologies: using matroid and design theory to design techniques with systemic impact," Post-Print hal-01154149, HAL.
    2. Pascal Le Masson & Armand Hatchuel & Olga Kokshagina & Benoit Weil, 2016. "Designing techniques for systemic impact: lessons from C-K theory and matroid structures," Post-Print hal-01389630, HAL.

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