BABS, PLANAT (2008)
Risk aversion
Development of systematic instruments for risk and safety assessments
The assessment and evaluation of the risk of low-probability, high consequence events, and of aversion to such risks, focus on the impactand rarity-specific particularities of these events. “Risk aversion” is the phenomenon whereby the importance attributed to high-consequence events increases, for several reasons, disproportionately to their expected value. Current risk-weighted safety planning takes this into consideration through the use of an “aversion factor” ?. However, given the scant attention that this issue has received to date, there is a need for clarification.