A capability approach has been proposed to risk analysis, where risk is conceptualized as the probability that capabilities are reduced. Capabilities refer to the genuine opportunities of individuals to achieve valuable doings and beings, such as being adequately nourished. Such doings and beings are called functionings. A current debate in risk analysis and other fields where a capability approach has been developed concerns whether capabilities or actual achieved functionings should be used. This paper argues that (...) in risk analysis the consequences of hazardous scenarios should be conceptualized in terms of capabilities, not achieved functionings. Furthermore, the paper proposes a method for assessing capabilities, which considers the levels of achieved functionings of other individuals with similar boundary conditions. The capability of an individual can then be captured statistically based on the variability of the achieved functionings over the considered population. (shrink)

The paper re-expresses arguments against the normative validity of expected utility theory in Robin Pope (1983, 1991a, 1991b, 1985, 1995, 2000, 2001, 2005, 2006, 2007). These concern the neglect of the evolving stages of knowledge ahead (stages of what the future will bring). Such evolution is fundamental to an experience of risk, yet not consistently incorporated even in axiomatised temporal versions of expected utility. Its neglect entails a disregard of emotional and financial effects on well-being before a particular (...) class='Hi'>risk is resolved. These arguments are complemented with an analysis of the essential uniqueness property in the context of temporal and atemporal expected utility theory and a proof of the absence of a limit property natural in an axiomatised approach to temporal expected utility theory. Problems of the time structure of risk are investigated in a simple temporal framework restricted to a subclass of temporal lotteries in the sense of David Kreps and Evan Porteus (1978). This subclass is narrow but wide enough to discuss basic issues. It will be shown that there are serious objections against the modification of expected utility theory axiomatised by Kreps and Porteus (1978, 1979). By contrast the umbrella theory proffered by Pope that she has now termed SKAT, the Stages of Knowledge Ahead Theory, offers an epistemically consistent framework within which to construct particular models to deal with particular decision situations. A model by Caplin and Leahy (2001) will also be discussed and contrasted with the modelling within SKAT (Pope, Leopold and Leitner 2007). (shrink)

Abstract: This research paper presents a novel approach to predict audit risks using a neural network model. The dataset used for this study was obtained from Kaggle and comprises 774 samples with 18 features, including Sector_score, PARA_A, SCORE_A, PARA_B, SCORE_B, TOTAL, numbers, marks, Money_Value, District, Loss, Loss_SCORE, History, History_score, score, and Risk. The proposed neural network architecture consists of three layers, including one input layer, one hidden layer, and one output layer. The neural network model was trained and validated, (...) achieving an impressive accuracy of 100% and an average error of 0.000015, indicating its robust predictive capability. Moreover, we conducted feature importance analysis to identify the most influential features for predicting audit risk. The key features found to be critical for classifying fraudulent activities in audit risk prediction are Sector_score, PARA_A, SCORE_A, PARA_B, SCORE_B, TOTAL, numbers, marks, Money_Value, District, Loss, Loss_SCORE, History, and History_score. This research contributes to the field of audit risk prediction by demonstrating the effectiveness of a neural network-based approach and highlighting the importance of specific features in detecting fraudulent activities. The findings have significant implications for auditors and organizations seeking to enhance their audit risk assessment processes, ultimately leading to improved financial transparency and fraud detection. (shrink)

COVID-19 vaccination of children has begun in various high-income countries with regulatory approval and general public support, but largely without careful ethical consideration. This trend is expected to extend to other COVID-19 vaccines and lower ages as clinical trials progress. This paper provides an ethical analysis of COVID-19 vaccination of healthy children. Specifically, we argue that it is currently unclear whether routine COVID-19 vaccination of healthy children is ethically justified in most contexts, given the minimal direct benefit that COVID-19 (...) vaccination provides to children, the potential for rare risks to outweigh these benefits and undermine vaccine confidence, and substantial evidence that COVID-19 vaccination confers adequate protection to risk groups, such as older adults, without the need to vaccinate healthy children. We conclude that child COVID-19 vaccination in wealthy communities before adults in poor communities worldwide is ethically unacceptable and consider how policy deliberations might evolve in light of future developments. (shrink)

Risk communication has been generally categorized as a warning act, which is performed in order to prevent or minimize risk. On the other side, risk analysis has also underscored the role played by information in reducing uncertainty about risk. In both approaches the safety aspects related to the protection of the right to health are on focus. However, it seems that there are cases where a risk cannot possibly be avoided or uncertainty reduced, this (...) is for instance valid for the declaration of side effects associated with pharmaceutical products or when a decision about drug approval or retirement must be delivered on the available evidence. In these cases, risk communication seems to accomplish other tasks than preventing risk or reducing uncertainty. The present paper analyzes the legal instruments which have been developed in order to control and manage the risks related to drugs – such as the notion of “development risk” or “residual risk” – and relates them to different kinds of uncertainty. These are conceptualized as epistemic, ecological, metric, ethical, and stochastic, depending on their nature. By referring to this taxonomy, different functions of pharmaceutical risk communication are identified and connected with the legal tools of uncertainty management. The purpose is to distinguish the different functions of risk communication and make explicit their different legal nature and implications. (shrink)

In this issue of the Journal, Dundas et al. (Am J Epidemiol. 2014;180(2):197–207) apply a hitherto infrequent multilevel analytical approach: multiple membership multiple classification (MMMC) models. Specifically, by adopting a life-course approach, they use a multilevel regression with individuals cross-classified in different contexts (i.e., families, early schools, and neighborhoods) to investigate self-reported health and mental health in adulthood. They provide observational evidence suggesting the relevance of the early family environment for launching public health interventions in childhood in order to improve (...) health in adulthood. In their analyses, the authors distinguish between specific contextual measures (i.e., the association between particular contextual characteristics and individual health) and general contextual measures (i.e., the share of the total interindividual heterogeneity in health that appears at each level). By doing so, they implicitly question the traditional probabilistic risk factor epidemiology including classical “neighborhood effects” studies. In fact, those studies use simple hierarchical structures and disregard the analysis of general contextual measures. The innovative MMMC approach properly responds to the call for a multilevel eco-epidemiology against a widespread probabilistic risk factors epidemiology. The risk factors epidemiology is not only reduced to individual-level analyses, but it also embraces many current “multilevel analyses” that are exclusively focused on analyzing contextual risk factors. (shrink)

A small but growing number of studies have aimed to understand, assess and reduce existential risks, or risks that threaten the continued existence of mankind. However, most attention has been focused on known and tangible risks. This paper proposes a heuristic for reducing the risk of black swan extinction events. These events are, as the name suggests, stochastic and unforeseen when they happen. Decision theory based on a fixed model of possible outcomes cannot properly deal with this kind of (...) event. Neither can probabilistic risk analysis. This paper will argue that the approach that is referred to as engineering safety could be applied to reducing the risk from black swan extinction events. It will also propose a conceptual sketch of how such a strategy may be implemented: isolated, self-sufficient, and continuously manned underground refuges. Some characteristics of such refuges are also described, in particular the psychosocial aspects. Furthermore, it is argued that this implementation of the engineering safety strategy safety barriers would be effective and plausible and could reduce the risk of an extinction event in a wide range of possible scenarios. Considering the staggering opportunity cost of an existential catastrophe, such strategies ought to be explored more vigorously. (shrink)

The EU Artificial Intelligence Act (AIA) defines four risk categories for AI systems: unacceptable, high, limited, and minimal. However, it lacks a clear methodology for the assessment of these risks in concrete situations. Risks are broadly categorized based on the application areas of AI systems and ambiguous risk factors. This paper suggests a methodology for assessing AI risk magnitudes, focusing on the construction of real-world risk scenarios. To this scope, we propose to integrate the AIA with (...) a framework developed by the Intergovernmental Panel on Climate Change (IPCC) reports and related literature. This approach enables a nuanced analysis of AI risk by exploring the interplay between (a) risk determinants, (b) individual drivers of determinants, and (c) multiple risk types. We further refine the proposed methodology by applying a proportionality test to balance the competing values involved in AI risk assessment. Finally, we present three uses of this approach under the AIA: to implement the Regulation, to assess the significance of risks, and to develop internal risk management systems for AI deployers. (shrink)

This Note offers a normative critique of cost-benefit analysis, one informed by deontological moral theory, in the context of the debate over whether tort litigation or a non-tort approach is the appropriate response to mass harm. The first Part argues that the difference between lay and expert intuitions about risk and harm often reflects a difference in normative judgments about the existing facts, rather than a difference in belief about what facts exist, which makes the lay intuitions more (...) defensible. The second Part considers how tort has dealt with this divergence between lay and expert perspectives. It also evaluates how tort's approach has differed from that of public law approaches to accident law, such as legislative compensation and risk regulation by administrative agencies. Ultimately, tort's ability to recognize the value of lay intuitions supports retaining the tort perspective as part of our societal arsenal of responses to risk and harm. This ability can also support a pro-tort perspective in two practical debates in the arena of tort law: that over preemption of tort law by administrative agency judgments, and that over access to tort recovery as part of a no-fault system. (shrink)

In “Risk Based Passenger Screening in Aviation Security: Implications and Variants of a New Paradigm”, Sebastian Weydner-Volkmann describes the current paradigm shift from ‘traditional’ forms of screening to ‘risk based passenger screening’ (RBS) in aviation security. This paradigm shift is put in the context of the wider historical development of risk management approaches. Through a discussion of Michel Foucault, Herfried Münkler and Ulrich Beck, Weydner-Volkmann analyses the shortcomings of such approaches in public security policies, which become especially (...) evident in the aviation security context. As he shows, the turn towards methods of RBS can be seen as an attempt to address a trade-off ‘trilemma’ between the effective provision of security, the implied costs for industry and passengers, and the ethical, legal and societal implications of the screening procedures. In order to analyse foreseeable outcomes of embracing RBS, he differentiates three prototypical variants of the new paradigm on the basis of their main referent and rationale. For each variant, he then subsequently assesses the implications for the ‘trilemma’, after having unveiled the criteria of analysis that will necessarily have to be followed within a serious appraisal of RBS methods. (shrink)

Almost all philosophers agree that a necessary condition on lying is that one says what one believes to be false. But, philosophers haven’t considered the possibility that the true requirement on lying concerns, rather, one’s degree-of-belief. Liars impose a risk on their audience. The greater the liar’s confidence that what she asserts is false, the greater the risk she’ll think she’s imposing on the dupe, and, therefore, the greater her blameworthiness. From this, I arrive at a dilemma: either (...) the belief requirement is wrong, or lying isn’t interesting. I suggest an alternative necessary condition for lying on a degree-of-belief framework. (shrink)

The chapter discusses two points of intersection between the communication of science-based information about risk and philosophical ethics. The first is a logically unnecessary bias toward consequentialist ethics, and a corresponding tendency to overlook the significance of deontological and virtue based ways to interpret the findings of a scientific risk analysis. The second is a grammatical bias that puts scientific communicators at odds with the expectations of a non-scientific audience.

This article describes the peculiarities of the formation and modeling of the enterprise risk management system in modern conditions. The main purpose of the research is further development of theoretical and methodical principles and development of practical recommendations aimed at improvement of management of business risks of wholesale enterprises. The critical analysis of literature sources and approaches to solving problems of enterprise risk management testifies to the lack of attention of scientists of the present-day to the investigated (...) problem in the sphere of activity of enterprises of wholesale trade. The urgency of this problem is caused by the existing losses of wholesale companies due to imperfect management as a result of the influence of various business risks. The methodological basis of the research is the system of methods used to obtain the final results: theoretical generalization, scientific abstraction and comparison – to deepen the essence of the concept of "business risk"; analysis and synthesis, grouping – for classification of business risks in the sphere of wholesale trade; methods of analysis, synthesis and logical generalization – to obtain conclusions during determination of the state and problems of realization of business activity in the sphere of wholesale trade of enterprises of Ukraine; systematic approach – for improvement of system of management of business risks of enterprises of wholesale trade on the basis of commercial values. The object of the research is the business risk in the wholesale trade environment. In the article the further development of the risk-based apparatus has been made, the negative consequences of the impact of business risks on the activities of the wholesale trade enterprises have been clarified, the enterprise risk management system of the enterprises has been built, which will reflect an integrated approach to its realization, practical recommendations on the formation of a model of management of business risks of the wholesale trade enterprises on the basis of commercial values. The results of the survey can be useful for business structures, which are focused on improving the management of business risks. (shrink)

In this paper, I examine the decision-theoretic status of risk attitudes. I start by providing evidence showing that the risk attitude concepts do not play a major role in the axiomatic analysis of the classic models of decision-making under risk. This can be interpreted as reflecting the neutrality of these models between the possible risk attitudes. My central claim, however, is that such neutrality needs to be qualified and the axiomatic relevance of risk attitudes (...) needs to be re-evaluated accordingly. Specifically, I highlight the importance of the conditional variation and the strengthening of risk attitudes, and I explain why they establish the axiomatic significance of the risk attitude concepts. I also present several questions for future research regarding the strengthening of risk attitudes. (shrink)

Risk propagation encompasses a plethora of techniques for analyzing how risk “spreads” in a given system. Albeit commonly used in technical literature, the very notion of risk propagation turns out to be a conceptually imprecise and overloaded one. This might also explain the multitude of modeling solutions that have been proposed in the lit- erature. Having a clear understanding of what exactly risk is, how it be quantified, and in what sense it can be propagated is (...) fundamental for devising high-quality risk assessment and decision-making solutions. In this paper, we exploit a previous well-established work about the nature of risk and related notions with the goal of providing a proper interpre- tation of the different notions of risk propagation, as well as revealing and harmonizing the alternative semantics for the links used in common risk propagation graphs. Finally, we discuss how these results can be leveraged in practice to model risk propagation scenarios. (shrink)

Currently, under the conditions of permanent financial risks that hamper the sustainable economic growth in the financial sector, the development of evaluation and risk management methods both regulated by Basel II and III and others seem to be of special importance. The reputation risk is one of significant risks affecting reliability and credibility of commercial banks. The importance of reputation risk management and the quality of their assessment remain relevant as the probability of decrease in or loss (...) of business reputation influences the financial results and the degree of customers’, partners’ and stakeholders’ confidence. By means of imitating modeling based on Bayesian Networks and the fuzzy data analysis, the article characterizes the mechanism of reputation risk assessment and possible losses evaluation in banks by plotting normal and lognormal distribution functions. Monte-Carlo simulation is used to calculate the probability of losses caused by reputation risks. The degree of standardized histogram similarity is determined on the basis of the fuzzy data analysis applying Hamming distance method. The tree-like hierarchy based on the OWA-operator is used to aggregate the data with Fishburne's coefficients as the convolution scales. The mechanism takes into account the impact of criteria, such as return on equity, goodwill value, the risk assets ratio, the share of the productive assets in net assets, the efficiency ratio of interest bearing liabilities, the risk ratio of credit operations, the funding ratio and reliability index on the business reputation of the bank. The suggested methods and recommendations might be applied to develop the decision-making mechanism targeted at the implementation of reputation risk management system in commercial banks as well as to optimize risk management technologies. (shrink)

This literature review explores the issues and risks in non-conscious data collection and evaluates people’s attitudes towards it. In the modern world, data is one of the most valuable resources, yet studies focused on the potential negative implications of the new data-driven technologies are lacking. Therefore, this thesis conducts a comprehensive literature review to identify and assess risks in non-conscious data collection technologies that are most relevant and referenced in current literature. Accordingly, the most prominent risks are related to privacy (...) issues with personal data, bias in algorithms creating inequality, and the difficulties in creating adequate legislation. Subsequently, the thesis will explore existing studies about people’s attitudes towards non-conscious data collection and examine the most significant socio-demographic determinants of those attitudes. Therefore, despite socio-demographic factors such as age, gender, and economic status affecting the attitudes people have towards data collection technologies, this thesis argues how these approaches can be explained by varying external factors such as prior experiences with similar technologies. (shrink)

Enterprise Risk Management and security have become a fundamental part of Enterprise Architecture, so several frameworks and modeling languages have been designed to support the activities associated with these areas. Archi- Mate’s Risk and Security Overlay is one of such proposals, endorsed by The Open Group. We investigate the capabilities of the proposed security-related con- structs in ArchiMate with regard to the necessities of enterprise security modeling. Our analysis relies on a well-founded reference ontology of security to (...) uncover ambiguity, missing modeling elements, and other deficiencies of the security mod- eling capabilities in ArchiMate. Based on this ontologically-founded analysis, we propose a redesign of security aspects of ArchiMate to overcome its original limitations. (shrink)

Rowe has recently argued that pure risk of harm cannot itself be a harm. I respond to Rowe and argue that given an appropriate understanding of objective probabilities, pure objective risk of harm can itself be a harm.

methods that have shown promise for improving extreme risk analysis, particularly for assessing the risks of invasive pests and pathogens associated with international trade. We describe the legally inspired regulatory regime for banks, where these methods have been brought to bear on extreme ‘operational risks’. We argue that an ‘advocacy model’ similar to that used in the Basel II compliance regime for bank operational risks and to a lesser extent in biosecurity import risk analyses is ideal for (...) permitting the diversity of relevant evidence about invasive species to be presented and soundly evaluated. We recommend that the process be enhanced in ways that enable invasion ecology to make more explicit use of the methods found successful.. (shrink)

Purpose: The research explored empirical evidence to assess the impact of cyber security and supply chain risk on digital operations in the UAE pharmaceutical industry. Methodology/Design/Approach: Based on responses from 243 personnel working at 14 pharmaceutical manufacturing companies in Dubai, data were examined for normality, instrument validity and regression analysis. Cyber security and SC risk on digital operations were explored by applying convenient sampling and descriptive and analytical research design. Findings: The findings validated the significant positive association (...) between cyber security and supply chain risk with digital operations. Research implications and Limitations: The research model was developed with three variables evaluated only on the pharmaceutical industry in Dubai. Future research should focus on multiple manufacturing industries by covering a larger geographic area. Practical implications: When suppliers are highly concentrated, customer-focused organisations with uncertain levels of digital transformation could improve their ability to manage supply chain risk by diversifying their clients. Pharmaceutical firms may require a greater focus on technology-based manufacturing firms to build and maintain customer trust. Originality Value: To illustrate how the pharmaceutical industry has explored the relationship between cyber security, supply chain risk and digital operations, the research highlights the significant and convoluted consequences of the relationship model that have not been previously considered. (shrink)

Philosophizing is at risk in the face of dogmatism, either political or religious. In political and/or religious circumstances where freedom of expression is curtailed, the risk of critical and discursive philosophizing (pursued both analytically and synthetically) is extremely far above the ground. As a case in point, getting into a balanced critical and appreciative philosophical deliberation (reflection and discourse) on the Israeli-Palestinian political conflicts and controversies right inside Israel with politically fired-up Israelis both intellectual and non-intellectual alike is (...) a risky engagement. What is specifically tolerable in such a particular context is ¨imbalanced philosophizing¨ (which is an oxymoron) wherein one is only allowed to DISCURSIVELY APPRECIATE the merits of just one side of the political divide over the other and never to be critical of the downsides discovered on the same side. Of course, the other philosophical operation of REFLECTIVE CRITICISM doesn´t get apparent, much less obvious, in such condition as it is forbidden to see the light of day. The risk lies in an open defiance of the restriction and could even be a matter of life and death. Similar to this was the situation in the erstwhile Soviet Union and its Eastern European satellites during the so-called Cold War era. Discursive criticism even within the strict purview of philosophical analysis and synthesis of certain political principles and theories operative within the system was a proscribed exercise whose violation could put involved individuals in a gulag, a mental asylum or at worst before a firing squad. (shrink)

Despite small and medium enterprises (SMEs) being numerically predominant and the most vulnerable role players in the economy of many countries, little research has been conducted on risk management and sustainability of SMEs operating in the Fast Moving Consumer Goods (FMCG) sector of South Africa. This study fills this knowledge gap by investigating the extent to which risk management processes of SMEs operating in the FMCG sector of South Africa incorporate a robust analysis of sustainability factors. We (...) achieve this by distributing questionnaires to a sample of 320 FMCG SMEs in the Cape Metropolitan area. Qualitative data were gathered by interviewing two risk experts to validate the quantitative data gathered through a survey questionnaire. The results show that the risk management processes of FMCG SMEs do not incorporate a robust analysis of the components of sustainability, negatively affecting their survival. Apart from filling the knowledge gap, the study has also significant implications for FMCG SME owner-managers and policymakers while revealing future research avenues. (shrink)

Biobanks act as the custodians for the access to and responsible use of human biological samples and related data that have been generously donated by individuals to serve the public interest and scientific advances in the health research realm. Risk assessment has become a daily practice for biobanks and has been discussed from different perspectives. This paper aims to provide a literature review on risk assessment in order to put together a comprehensive typology of diverse risks biobanks could (...) potentially face. Methodologically set as a typology, the conceptual approach used in this paper is based on the interdisciplinary analysis of scientific literature, the relevant ethical and legal instruments and practices in biobanking to identify how risks are assessed, considered and mitigated. Through an interdisciplinary mapping exercise, we have produced a typology of potential risks in biobanking, taking into consideration the perspectives of different stakeholders, such as institutional actors and publics, including participants and representative organizations. With this approach, we have identified the following risk types: economic, infrastructural, institutional, research community risks and participant’s risks. The paper concludes by highlighting the necessity of an adaptive risk governance as an integral part of good governance in biobanking. In this regard, it contributes to sustainability in biobanking by assisting in the design of relevant risk management practices, where they are not already in place or require an update. The typology is intended to be useful from the early stages of establishing such a complex and multileveled biomedical infrastructure as well as to provide a catalogue of risks for improving the risk management practices already in place. (shrink)

This study investigates the dynamics of brick-and-mortar versus click-and-mortar microbusinesses, focusing on the strengths, weaknesses, opportunities, and threats (SWOT) within the local context of Balayan. Ten purposively sampled microbusiness entrepreneurs were examined using the SWOT method. The findings underscore the significance of product assessment, communication, and customer experiences in cultivating trust. Sensory experiences and competitive pricing emerge as strengths, while challenges such as poor sales necessitate strategic interventions. External factors, particularly technological advancements, exert influence on the retail landscape. Key strategies (...) include competitive pricing, flexibility, and an understanding of customer behavior. The study highlights growth potential in tailored experiences but acknowledges the risks posed by e-commerce competition. Additionally, a SWOT strategic plan is developed to leverage internal and external strengths and opportunities while mitigating weaknesses and threats. (shrink)

In this paper I shall defend the idea that there is an abstract and general core meaning of objectivity, and what is seen as a variety of concepts or conceptions of objectivity are in fact criteria of, or means to achieve, objectivity. I shall then discuss the ideal of value-free science and its relation to the objectivity of science; its status can be at best a criterion of, or means for, objectivity. Given this analysis, we can then turn to (...) the problem of inductive risk. Do the value judgements regarding inductive risk really pose a threat to the objectivity of science? I claim that this is not the case because they do not lower the thresholds scientifically postulated for objectivity. I shall conclude the paper with a discussion of under-appreciated influences of values on science, which indeed pose a serious threat to the objectivity of some scientific disciplines. (shrink)

An increasing number of technology firms are implementing processes to identify and evaluate the ethical risks of their systems and products. A key part of these review processes is to foresee potential impacts of these technologies on different groups of users. In this article, we use the expression Ethical Foresight Analysis to refer to a variety of analytical strategies for anticipating or predicting the ethical issues that new technological artefacts, services, and applications may raise. This article examines several existing (...) EFA methodologies currently in use. It identifies the purposes of ethical foresight, the kinds of methods that current methodologies employ, and the strengths and weaknesses of each of these current approaches. The conclusion is that a new kind of foresight analysis on the ethics of emerging technologies is both feasible and urgently needed. (shrink)

Abstract: This research employs a Random Forest classification model to predict and assess obesity and cardiovascular disease (CVD) risk based on a comprehensive dataset collected from individuals in Mexico, Peru, and Colombia. The dataset comprises 17 attributes, including information on eating habits, physical condition, gender, age, height, and weight. The study focuses on classifying individuals into different health risk categories using machine learning algorithms. Our Random Forest model achieved remarkable performance with an accuracy, F1-score, recall, and precision all (...) reaching 97.23%. The model's success is attributed to its ability to effectively leverage attributes related to eating habits, physical condition, and demographic factors. Feature importance analysis reveals key factors contributing to accurate predictions. This paper contributes to the field of health analytics by demonstrating the effectiveness of Random Forest in predicting and categorizing health risks. The insights gained from this research have the potential to inform personalized health interventions and contribute to the advancement of precision health strategies. Furthermore, the study highlights the importance of leveraging machine learning techniques for health risk assessment in diverse populations. (shrink)

Looks into evaluation of information provision probability from different sources, based on use of linguistic variables. Formation of functions appurtenant for its unclear variables provides for adoption of decisions by the decision maker, in conditions of nonprobabilistic equivocation. The development of market relations in Ukraine increases the independence and responsibility of enterprises in justifying and making management decisions that ensure their effective, competitive activities. As a result of the analysis, it is determined that the condition of economic facilities can (...) be described and determined by the decision-maker, in the presence of the necessary information. The confidence of the decision-maker in the information received is different and the decisions made have a correspondingly different level of information risk. It is important to substantiate the procedure for assessing the numerical extent of information risk in decision-making based on the information obtained in conditions of uncertainty. The use of a linguistic variable in the processing of expert data presented in the form of a matrix of binary relations of values of the membership function, which allowed to move to further processing of knowledge to support decision-making in the management of industrial, commercial, financial and other activities. As a mathematical model for estimating the numerical measure of information risk when making decisions based on the information obtained in conditions of non-stochastic uncertainty, a model has been developed to model natural language uncertainties, which differs from existing ones by formalizing knowledge taking into account uncertainty of input information. Making such a clear decision in a fuzzy environment has appropriate values of effectiveness and risk. The paper proposes all the functions and accessories of indicators of both quantitative nature and qualitative nature to bring their values in the field of definition to one scale. Then the indicator of the effectiveness of decision-making will be a measure of the clarity of the cross-section of fuzzy subsets, which correspond to the introduced indicators of information risk. The condition of economic facilities can be described and determined by the decision-maker, if the necessary information is available. Decision-making on thenumerical measure of information risk must be determined by a set of basic indicators, which can be both quantitative and qualitative in nature. Predictive values of indicators should be determined in conditions of nonstochastic uncertainty. In this case, the indicators of a quantitative nature can be determined by fuzzy triangular numbers, which implement a high level of confidence in the subjective judgments of experts. Indicators of qualitative nature should be presented in linguistic variables. The values of the indicators of qualitative nature that are predicted must be considered for all fuzzy variable terms-sets of linguistic variables introduced into consideration. For any fuzzy variable, the introduction to the consideration of a clear set of values as carriers of the α-level of its membership function allows to reduce to a single interpretation of the predicted values of indicators of quantitative and qualitative nature in terms of non-stochastic uncertainty. (shrink)

The global pandemic of COVID 19 has changed consumer behaviour to reduce the risk. This is common for all interpersonal interactions of individuals especially in maintaining the recommended interpersonal distance based on the recommendations from the health experts. Sri Lanka as a developing country affected by COVID 19, observed changes in individuals' day today’ consumption decision making due to pandemic. Importantly the retailing sector is highly influenced by the conditions since the frequency of interpersonal interactions and degree of interaction (...) is higher in the retailing sector. Interestingly the retailing sector with its largest contributor, the SMEs need to identify the unique changes that happen to the consumer behaviour in responding to them. Accordingly, the objective of the study is to examine the impact of infectious disease risk on the perceived retail crowding in two perspectives of human density and the spatial density. The study has used a quantitative survey in collecting data with the online self-administrated questionnaire with a sample of 100 consumers. Data analysis has been done by using a PLS-SEM with the support of SmartPLS version 3. The key findings of the study emphasize the significant positive influence of infectious disease risk on human density as well as on the spatial density. Based on the findings the study attempts to provide the implications for the retailing industry to cope with situational changes in the environment. (shrink)

Risk assessment is one of the prerequisites for understanding its causes and possible consequences. We base our risk assessment on the principles described in the European standard EN 31000 - Risk Management Process. This standard comprehensively describes the continuous activities that are necessary in managing risks and minimizing their possible adverse effects on the operation of the system under investigation. In this activity, it is necessary to first identify the existing risks, then analyze and evaluate the identified (...) risks. In the analysis of existing risks, it is possible to use both qualitative and quantitative analytical methods, or combine them. We use qualitative methods in cases where we do not have a sufficient amount of input information, these are more subjective. Quantitative methods are more accurate, but also more demanding on input information and time. The choice of a suitable analytical method is a basic prerequisite for knowledge of risks and their evaluation. The values of individual risks obtained in this way are the basis for determining the measures that are ecessary to minimize them, i.e., to adjust them to an acceptable level. The draft measures are always based on the value of the individual components used to calculate the risk number, as well as on the value of the asset , which needs to be protected. Appropriately chosen analytical methods are one of the basic prerequisites for the consistent application of the principles of risk management, as a continuous process aimed at increasing the overall security of the system under study. In the article, the author describes the procedures used in risk assessment, as well as specific analytical methods that can be used in working with risks. The aim of identifying risk factors is to create a list of events that could cause undesirable disruption to ongoing processes. At this stage, we define all the risks that will be subsequently analyzed and evaluated. When identifying, we can use methods such as, e.g. SWOT, PHA (Preliminary Hazard Analysis) or CA (Checklist Analysis). Methods suitable for determining the causes and creating scenarios for the course of a risk event are ETA (Event Tree Analysis) or FTA (Fault Tree Analysis). The basic analysis of the system can be performed using the FMEA method (Failure Mode and Effect Analysis), which provides a numerical risk assessment. By comparison with the numerical value of the risk that we are willing to accept, we obtain 2 groups of risks. Acceptable, which will be given regular attention and unacceptable, which we will focus on in risk management and we will try to minimize its negative affect on the functioning of the system under study. (shrink)

Excerpt: 1. Introduction This chapter provides insight into the diverse ethical debates on genetics and epigenetics. Much controversy surrounds debates about intervening into the germline genome of human embryos, with catchwords such as genome editing, designer baby, and CRISPR/Cas. The idea that it is possible to design a child according to one’s personal preferences is, however, a quite distorted view of what is actually possible with new gene technologies and gene therapies. These are much more limited than the editing and (...) design metaphors suggest. Such metaphors are therefore highly problematic phrases in the context of new gene technologies, for two reasons. On one hand, to design a child of choice by modifying the genome would require modifying any gene of choice, which is more than can be done with current gene technologies, such as CRISPR/Cas. On the other hand, a modification of genes would need to be enough to create any characteristic of choice in the future child. The latter presupposes the assumption of genetic determinism. Moreover, the CRISPR/Cas technology can not only be used in a potentially therapeutic manner at the germline level. In addition, there is the (more likely) scenario of a future clinical therapeutic use of these new gene technologies for modifying the DNA sequence of other cells of the body (somatic genome editing). There is also the option of modifying the epigenome, that is, the spatial configuration of DNA (epigenome editing) (see table 1). Like genetics and genome editing, epigenetics has been at the center of recent popular scientific and ethical discourse as well as scientific debates. The concept of epigenetics has given rise to very different notions of inheritability and responsibility for health, which, however, are oftentimes based on scientifically controversial basic assumptions. That there continues to be covert genetic determinism in the form of epigenetic determinism (see table 2) in debates about epigenetics has been pointed out in ethical analyses of epigenetics. Neither genetic determinism nor epigenetic determinism has been confirmed scientifically. It is therefore important to recognize the concepts that are discussed (and sometimes harshly criticized) in debates about genome editing and epigenetics—for example, concepts about the causal role of DNA for our own life course. This importance is based on the fact that if we understand such controversial concepts, we will be able to remain critical when evaluating scientific knowledge and ethical arguments about genome editing and epigenetics. This chapter, therefore, explains some of these concepts. For an ethical analysis of epigenetics as well as of genome editing, it is necessary to understand and critically reflect upon the underlying concepts of genetic determinism and other, related -isms. The following section offers a detailed introduction to these -isms (section 2; see also table 2). Section 3 provides an ethical analysis of genome editing and epigenetics based on the explanations in section 2. Section 3 focuses on inheritability and responsibility, justice, safety, the problem of consent, and the effects of genome editing and epigenetics on embryos and future generations. This section does not discuss in detail further points that can be found in ethical debates about epigenetics as well as in ethical debates about genome editing. These points include (among others): • fear that the findings of epigenetics and that the methods of genome editing are misused—this also with respect to eugenics and enhancement; • naturalness—an issue we mention in passing a few times in the following analysis; • a possible connection between the genome/epigenome and the concept of human dignity, and the derived danger of instrumentalization and infringement of autonomy when intervening in the genome or epigenome. Since current discourse about ethical issues associated with genome editing focuses mainly on germline interventions, which are, for instance, interventions into a human embryo’s genome, we mainly focus on germline interventions when comparing the debates on genome editing and on epigenetics in section 3. (shrink)

Attempt of trans-disciplinary analysis of the evolutionary value of bioethics is realized. Currently, there are High Tech schemes for management and control of genetic, socio-cultural and mental evolution of Homo sapiens (NBIC, High Hume, etc.). The biological, socio-cultural and technological factors are included in the fabric of modern theories and technologies of social and political control and manipulation. However, the basic philosophical and ideological systems of modern civilization formed mainly in the 17–18 centuries and are experiencing ever-increasing and destabilizing (...) risk-taking pressure from the scientific theories and technological realities. The sequence of diagnostic signs of a new era once again split into technological and natural sciences’ from one hand, and humanitarian and anthropological sciences’, from other. The natural sciences series corresponds to a system of technological risks be solved using algorithms established safety procedures. The socio-humanitarian series presented anthropological risk. Global bioethics phenomenon is regarded as systemic socio-cultural adaptation for technology-driven human evolution. The conceptual model for meta-structure of stable evolutionary strategy of Homo sapiens (SESH) is proposes. In accordance to model, SESH composed of genetic, socio-cultural and techno-rationalist modules, and global bioethics as a tool to minimize existential evolutionary risk. An existence of objectively descriptive and value-teleological evolutionary trajectory parameters of humanity in the modern technological and civilizational context (1), and the genesis of global bioethics as a system social adaptation to ensure self-identity (2) are postulated. -/- . (shrink)

The late scholastics, from the fourteenth to the seventeenth centuries, contributed to many fields of knowledge other than philosophy. They developed a method of conceptual analysis that was very productive in those disciplines in which theory is relatively more important than empirical results. That includes mathematics, where the scholastics developed the analysis of continuous motion, which fed into the calculus, and the theory of risk and probability. The method came to the fore especially in the social sciences. (...) In legal theory they developed, for example, the ethical analyses of the conditions of validity of contracts, and natural rights theory. In political theory, they introduced constitutionalism and the thought experiment of a “state of nature”. Their contributions to economics included concepts still regarded as basic, such as demand, capital, labour, and scarcity. Faculty psychology and semiotics are other areas of significance. In such disciplines, later developments rely crucially on scholastic concepts and vocabulary. (shrink)

This paper aims to study the impact of Crowdfunding financial attributes on entrepreneurship risk taking. This study was applied on Arabic Crowdfunding platforms from all crowdfunding models. The population of the study consists of individuals, entrepreneurs, investors, employees at electronic-crowd funding Arabic platforms. According to last statics at (2018), there are (12) legit Arabic platforms working in this field. Several statistical tools were used for data analysis and hypotheses testing, including reliability Correlation using Cronbach’s alpha, “ANOVA”, Simple Linear (...) Regression. The overall findings of the current paper show that there is a significant statistical impact for financial properties on entrepreneurship and this effect around (25%). Furthermore, the current paper is unique by topic and population as it is the first study on Arabic crowdfunding platforms. (shrink)

This paper discusses ethical issues surrounding Integrated Assessment Models (IAMs) of the economic effects of climate change, and how climate economists acting as policy advisors ought to represent the uncertain possibility of catastrophe. Some climate economists, especially Martin Weitzman, have argued for a precautionary approach where avoiding catastrophe should structure climate economists’ welfare analysis. This paper details ethical arguments that justify this approach, showing how Weitzman’s “fat tail” probabilities of climate catastrophe pose ethical problems for widely used IAMs. The (...) main claim is that economists who ignore or downplay catastrophic risks in their representations of uncertainty likely fall afoul of ethical constraints on scientists acting as policy advisors. Such scientists have duties to honestly articulate uncertainties and manage (some) inductive risks, or the risks of being wrong in different ways. (shrink)

Comparing the degree of openness of the economy of Poland and the Netherlands, we can say the following. The Netherlands is more dependent on foreign trade than Poland. The Netherlands export quota reaches almost 50%, unlike 41,37% in Poland in 2016. However, Poland has become more import-dependent. Poland, in contrast to the Netherlands, is continuing to increase the indicators of "economic globalization". To date, the Netherlands has been pursuing more moderate foreign trade policy and trying to protect itself from external (...) risks by focusing on an internal market with high purchasing power. On the contrary, Polish politics tries to focus on the new markets for its products in order to increase the prosperity and well-being of its citizens. Poland as a country and an economic entity has made a qualitative leap in its development. The economy of this country has become more open and integrated into the world economy. (shrink)

An extended analysis compared to observations shows that modern “globalised” world civilisation has passed through the invisible “complexity threshold”, after which usual “spontaneous”, empirically driven kind of development (“invisible hand” etc.) cannot continue any more without major destructive tendencies. A much deeper, non-simplified understanding of real interaction complexity is necessary in order to cope with such globalised world development problems. Here we introduce the universal definition, fundamental origin, and dynamic equations for a major related quantity of (systemic) risk (...) characterising real complex system development tendencies at any level of dynamics. Practically important conclusions are derived, opening further detailed applications in economy, finance and development practice. (shrink)

Many global catastrophic and existential risks (X-risks) threaten the existence of humankind. There are also many ideas for their prevention, but the meta-problem is that these ideas are not structured. This lack of structure means it is not easy to choose the right plan(s) or to implement them in the correct order. I suggest using a “Plan A, Plan B” model, which has shown its effectiveness in planning actions in unpredictable environments. In this approach, Plan B is a backup option, (...) implemented if Plan A fails. In the case of global risks, Plan A is intended to prevent a catastrophe and Plan B to survive it, if it is not avoided. Each plan has similar stages: analysis, planning, funding, low-level realization and high-level realization. Two variables—plans and stages—provide an effective basis for classification of all possible X-risks prevention methods in the form of a two-dimensional map, allowing the choice of optimal paths for human survival. I have created a framework for estimating the utility of various prevention methods based on their probability of success, the chances that they will be realized in time, their opportunity cost, and their risk. I also distinguish between top-down and bottom-up approaches. (shrink)

Outbreaks of novel influenza viruses are continually occurring on many places on our planet, with the ultimate and most extreme consequence being a full-scale pandemic. Modern communication technology is widely used for risk communication regarding recommended change in behavior patterns and other precautions in order to mitigate the transmission. However, the assumption and bias that modern communication technology constitutes the norm causes vulnerable groups to be at possible risk of systematic exclusion to correct and updated information. Through conducting (...) a literature- and case analysis, the aim of this study is to identify insufficient or inadequate risk communication efforts in South Korea and Vietnam during influenza outbreaks, especially with concern of vulnerable groups. Further, to analyze how national influenza preparedness plans observe or ignore these insufficiencies. Results show that vulnerable groups are explicitly recognized in the preparedness plan of Vietnam. However, the South Korean preparedness plan show a more homogenous approach. Both South Korea and Vietnam showed a broad variety of channels used in their risk communication strategies which could be positive in terms of a broad outreach to a heterogenous population, including vulnerable groups. Four key factors that moderate the outcomes of risk communication were identified: Channels, Messages, Transparency and Trust. (shrink)

Drug regulation is fraught with inductive risk. Regulators must make a prediction about whether or not an experimental pharmaceutical will be effective and relatively safe when used by typical patients, and such predictions are based on a complex, indeterminate, and incomplete evidential basis. Such inductive risk has important practical consequences. If regulators reject an experimental drug when it in fact has a favourable benefit/harm profile, then a valuable intervention is denied to the public and a company’s material interests (...) are needlessly thwarted. Conversely, if regulators approve an experimental drug when it in fact has an unfavourable benefit/harm profile, then resources are wasted, people are needlessly harmed, and other potentially more effective treatments are underutilized. Given that such regulatory decisions have these practical consequences, non-epistemic values about the relative importance of these consequences impact the way such regulatory decisions are made (similar to the analysis of laboratory studies on the toxic effects of dioxins presented in Douglas [2000]). To balance the competing demands of the pertinent non-epistemic values, regulators must perform what I call an “inductive risk calculus.” At least in the American context this inductive risk calculus is not well-managed. (shrink)

Highlights: -/- • -/- Proposes forward-looking approach to studying climate collapse risks. • -/- Suggests diminishing returns on climate adaptation as a collapse mechanism. • -/- Suggests strategies for sustainable adaptation pathways in face of climate change. • -/- Illustrates analysis with examples of small island states and global food security. -/- Abstract: -/- This article proposes a forward-looking approach to studying societal collapse risks related to climate change. Such an approach should indicate how to study emerging collapse risks (...) and suggest strategies for adapting to them. Our approach is based on three postulates that facilitate a forward-looking approach: (1) collapse, if it occurred, would be a lengthy process rather than an abrupt event; (2) significant collapse risks already exist in some places; and (3) diminishing returns on adaptation to intensifying climate impacts are a key driver of collapse risks. The first two postulates suggests that collapse risks can be studied in process, while the third points to strategies for adaptation pathways that avoid unsustainable diminishing returns. Applying diminishing returns to climate change adaptation, rather than sociopolitical complexity or resource extraction, is also a novel theoretical contribution to collapse literature. [Open access]. (shrink)

This article solves the problem of ensuring database decision-making in conditions of growing uncertainty and risks based on the results of business diagnostics is solved in this article. The main purpose of the research is to further develop the methodology of forming an analytical database for making management decisions. The following methods formed the methodological basis of the research: abstract-logical – used to generalize theoretical approaches and confirm the practical significance of solving the problem of decision-making in conditions of uncertainty (...) and risk; system analysis – when building a model of decision-making while coordinating areas and methods of business diagnostics; generalization – when drawing conclusions based on research results. The results of solving the problem of decision-making by improving the methodological approach in selecting areas and methods of business diagnostics in the conditions of growing uncertainty and risks are given in the article. The results of the research have practical value for companies that seek to reduce uncertainty and risk in the decision-making process in business management. (shrink)

Kant limits cosmopolitan right to a universal right of hospitality, condemning European imperial practices towards indigenous peoples, while allowing a right to visit foreign countries for the purpose of offering to engage in commerce. I argue that attempts by contemporary theorists such as Jeremy Waldron to expand and update Kant’s juridical category of cosmopolitan right would blunt or erase Kant’s own anti-colonial doctrine. Waldron’s use of Kant’s category of cosmopolitan right to criticize contemporary identity politics relies on premises that upset (...) Kant’s balanced right to hospitality. An over-extensive right to visit can invoke “Kantian” principles that Kant himself could not have consistently held, without weakening his condemnation of European settlement. I construct an alternative spirit of cosmopolitan right more favorable to the contemporary claims of indigenous peoples. Kant’s analysis suggests there are circumstances when indigenous peoples may choose whether to engage in extensive cultural interaction, and reasonably refuse the risks of subjecting their claims to debate in democratic politics in a unitary public. Cosmopolitan right accorded respect to peoples; any “domestic” adaptation of cosmopolitan right should respect indigenous peoples as peoples, absent a serious public explanation by a democratic state for why it has now become appropriate to treat indigenous peoples merely as individual citizens. (shrink)

Purpose (metatask) of the present work is to attempt to give a glance at the problem of existential and anthropo- logical risk caused by the contemporary man-made civilization from the perspective of comparison and confronta- tion of aesthetics, the substrate of which is emotional and metaphorical interpretation of individual subjective values and politics feeding by objectively rational interests of social groups. In both cases there is some semantic gap pre- sent between the represented social reality and its representation in (...) perception of works of art and in the political doctrines as well. Methodology of the research is evolutionary anthropological comparativistics. Originality of the conducted analysis comes to the following: As the antithesis to biological and social reductionism in interpretation of the phenomenon of bio-power it is proposed a co-evolutionary semantic model in accordance with which the de- scribed semantic gap is of the substantial nature related to the complex module organization of a consistent and adaptive human strategy consisting of three associated but independently functional modules (genetic, cultural and techno-rational). Evolutionary trajectory of all anthropogenesis components including civilization cultural and so- cial-political evolution is identified by the proportion between two macro variables – evolutionary effectiveness and evolutionary stability (sameness), i.e. preservation in the context of consequential transformations of some invari- ants of Homo sapiens species specificity organization. It should be noted that inasmuch as in respect to human, some modules of the evolutionary (adaptive) strategy assume self-reflection attributes, it would be more correctly to state about evolutionary correctness, i.e. correspondence to some perfection. As a result, the future of human nature de- pends not only on the rationalist principles of ethics of Homo species (the archaism of Jurgen Habermas), but also on the holistic and emotionally aesthetic image of «Self». In conclusion it should be noted that there is a causal link between the development of High Hume (NBIC) technologies and the totality of the trend in the anthropological phenomenon of bio-power that permeates all the available human existence in modern civilization. As a result, there is a transformation of a contemporary social (man-made) risk in the evolutionary civilization risk. (shrink)

Purpose of the present work is to attempt to give a glance at the problem of existential and anthropological risk caused by the contemporary man-made civilization from the perspective of comparison and confrontation of aesthetics, the substrate of which is emotional and metaphorical interpretation of individual subjective values and politics feeding by objectively rational interests of social groups. In both cases there is some semantic gap present between the represented social reality and its representation in perception of works of (...) art and in the political doctrines as well. Methodology of the research is evolutionary anthropologicalcomparativistics. Originality of the conducted analysis comes to the following: As the antithesis to biological and social reductionism in interpretation of the phenomenon of bio-power it is proposed a co-evolutionary semantic model in accordance with which the described semantic gap is of the substantial nature related to the complex module organization of a consistent and adaptive human strategy consisting of three associated but independently functional modules. Evolutionary trajectory of all anthropogenesis components including civilization cultural and social-political evolution is identified by the proportion between two macro variables – evolutionary effectiveness and evolutionary stability, i.e. preservation in the context of consequential transformations of some invariants of Homo sapiens species specificity organization. It should be noted that inasmuch as in respect to human, some modules of the evolutionary strategy assume self-reflection attributes, it would be more correctly to state about evolutionary correctness, i.e. correspondence to some perfection. As a result, the future of human nature depends not only on the rationalist principles of ethics of Homo species, but also on the holistic and emotionally aesthetic image of «Self». In conclusion it should be noted that there is a causal link between the development of High Hume technologies and the totality of the trend in the anthropological phenomenon of bio-power that permeates all the available human existence in modern civilization. As a result, there is a transformation of a contemporary social risk in the evolutionary civilization risk. (shrink)

Strong arguments have been formulated that the computational limits of disembodied artificial intelligence (AI) will, sooner or later, be a problem that needs to be addressed. Similarly, convincing cases for how embodied forms of AI can exceed these limits makes for worthwhile research avenues. This paper discusses how embodied cognition brings with it other forms of information integration and decision-making consequences that typically involve discussions of machine cognition and similarly, machine consciousness. N. Katherine Hayles’s novel conception of nonconscious cognition in (...) her analysis of the human cognition-consciousness connection is discussed in relation to how nonconscious cognition can be envisioned and exacerbated in embodied AI. Similarly, this paper offers a way of understanding the concept of suffering in a way that is different than the conventional sense of attributing it to either a purely physical state or a conscious state, instead of grounding at least a type of suffering in this form of cognition. (shrink)

In 2001 soon after the Asian Crises of 1997-1998, the DotcomBubble, 9/11, the Enron crises triggered a fraud crisis in Wall Street that impacted the market to the core. Since then scandals such as the Lehman Brothers and WorldCom in 2007-2008 and the Great Recession have surpassed it, Enron still remains one of the most important cases of fraudulent accounting. In 2000’s even though the financial industry had become highly regulated, deregulation of the energy industry allowed companies to place bets (...) on future prices. At the peak of the dotcom bubble Enron was named as a star innovator but when the dotcom bubble burst, Enron’s plan to build high speed internet did not flourish and investors started to realize losses. Furthermore, the financial losses of the operations were hid using the market to market accounting technique instead of book value and using special purpose entities to hide debt. The root cause that was identified as a company with a toxic corporate culture focused on officer compensation rather than social responsibility and hence faulty leadership. Is it possible then that; ethical accounting practices, social responsibility and ethics all become inferior goods as income rises in an ‘irrationally exuberant’era? (shrink)

© The Author 2017. Published by Oxford University Press on behalf of The Analysis Trust. All rights reserved. For Permissions, please email: [email protected] Boonin’s The Non-Identity Problem and the Ethics of Future People and Rivka Weinberg’s The Risk of a Lifetime: How, When and Why Procreation May Be Permissible are both important books for those interested in procreative ethics. Each argues for surprising and controversial conclusions: Boonin argues that we should solve the non-identity problem by accepting its apparently (...) unacceptable conclusion that actions cannot be wrong due to their effects on future people whose lives are worth living and who would not exist were the actions not performed; Weinberg argues that there is no non-identity problem, that future children have no interest in existing, but significant interest in avoiding harm and that procreation is, therefore, a much more morally risky business than we tend to think. Even if... (shrink)