The role of social cost-benefit analysis in societal decision-making under large uncertainties with application to robbery at a cash depot

Reliability Engineering and System Safety

Volumn 94, Issue 12, 2009, Pages 1954-1961

  Jones Lee, M ^a   Aven, T ^b  

^a NEWCASTLE UNIVERSITY   (United Kingdom)

^b UNIVERSITY OF STAVANGER   (Norway)

Author keywords

Risk assessment; Social cost benefit analysis; Uncertainties

Indexed keywords

ACCURATE PREDICTION; DECISION FRAMEWORK; DECISION MAKING PROCESS; DECISION SUPPORTS; FUTURE PERFORMANCE; SAFETY INVESTMENTS; SOCIAL COST; SOCIAL COST-BENEFIT ANALYSIS; UNCERTAINTIES;

COST EFFECTIVENESS; COSTS; DECISION MAKING; DECISION SUPPORT SYSTEMS; RISK ANALYSIS; RISK ASSESSMENT; RISK MANAGEMENT; SAFETY FACTOR; UNCERTAINTY ANALYSIS;

COST BENEFIT ANALYSIS;

EID: 69249217659     PISSN: 09518320     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ress.2009.06.011     Document Type: Article

References (15)

1. Treasury H.M. The green book: appraisal and evaluation in central government (2003), The Stationery Office, London
2. Treasury H.M. Managing risks to the public: appraisal guidance (2005), H.M. Treasury, London
3. Baker R., Chilton S., Jones-Lee M., and Metcalf H. Valuing lives equally: defensible premise or unwarranted compromise?. Journal of Risk and Uncertainty 36 (2008) 125-138
4. Jones-Lee M. Altruism and the value of other people's safety. Journal of Risk and Uncertainty 4 (1991) 213-219
5. Jones-Lee M. Paternalistic altruism and the value of statistical life. Economic Journal 102 (1992) 80-90
6. Jones-Lee M., Hammerton M., and Philips P.R. The value of safety: results of a national sample survey. Economic Journal 95 (1985) 49-72
7. Department for Transport. Highways Economics Note No.1. Department for Transport, London, 1993, 1994.
8. Guria J., Leung J., Jones-Lee M., and Loomes G. The willingness to accept value of statistical life relative to the willingness to pay value: evidence and policy implications. Environmental and Resource Economics 32 (2005) 113-127
9. Apostolakis G.E. How useful is quantitative risk assessment?. Risk Analysis 24 (2004) 515-520
10. Aven T. Risk analysis (2008), Chichester, Wiley
11. HSE. Reducing risk, protecting people (2001), HES Books, Sudbury, UK. 0717621510
12. Aven T., and Vinnem J.E. Risk management, with applications from the offshore oil and gas industry (2007), Springer Verlag, Berlin
13. Vatn J. Societal security-a case study related to a cash depot. In: Aven T., and Vinnem J. (Eds). Risk, reliability and societal safety (ESREL 2007) vol. 3 (2007), Taylor & Francis, London 2599-2605
14. Aven T., and Renn O. The role of quantitative risk assessments for characterizing risk and uncertainty and delineating appropriate risk management options, with special emphasis on terrorism risk. Risk Analysis 29 (2009) 587-600
15. Chilton, S., Jones-Lee, M., Metcalf, H. Dread risks 〈http://www.ncl.ac.uk/nubs/research/publication/37612〉. Journal of Risk and Uncertainty 2006;33:165-82.