Consistent risk management: Three models outlined
Abstract:This article introduces three models on how to understand the demand for consistent risk management. The first model, which accords with traditional risk analysis, is called the Standard Model. In this model, the decisive criterion of whether or not to accept a risk is if the total benefit exceeds the total cost. Since this model cannot protect the individual from unfair risk exposure two more models are outlined. The arguments in the Model of Inviolable Rights and in the Model of Procedural Justice evolve around the separateness of individuals, rights and fair risk taking. It is argued that risk management needs to acknowledge a variety of morally salient factors to avoid exposing people unfairly to risks.
Document Type: Research Article
Affiliations: Department of Philosophy and the History of Technology, Teknikringen 78B, Royal Institute of Technology, SE‐100 44 Stockholm, Sweden
Publication date: October 1, 2005