Accelerating global climate change drives new climate risks. People around the world are researching, designing, and implementing strategies to manage these risks. Identifying and implementing sound climate risk management strategies poses nontrivial challenges including (a) linking the required disciplines, (b) identifying relevant values and objectives, (c) identifying and quantifying important uncertainties, (d) resolving interactions between decision levers and the system dynamics, (e) quantifying the trade-offs between diverse values under deep and dynamic uncertainties, (f) communicating to inform decisions, and (...) (g) learning from the decision-making needs to inform research design. Here we review these challenges and avenues to overcome them. ▪ People and institutions are confronted with emerging and dynamic climate risks. ▪ Stakeholder values are central to defining the decision problem. ▪ Mission-oriented basic research helps to improve the design of climate risk management strategies. (shrink)

Although enterprise risk management (ERM) has many benefits for corporations, there has been virtually no discussion of the extent to which its practice may be said to constitute corporate social responsibility. This article presents a prima facie case for the convergence of the two and examines this case through a consideration of four possible objections or challenges. The conclusion of this article is a tempered optimism that ERM has the significant, but as yet untapped, potential to constitute socially (...) responsible activity, which, if realized, would enable Adam Smith's invisible hand of the marketplace to have an expanded sweep. (shrink)

Risk, ethics and compliance requirements are a daily reality for most organisations. Regulators and stakeholders (including employees) demand more of most organisations, from equality, to anti-corruption, to supply chain ethics. Start-ups stutter and unicorns crash to earth when they get risk wrong. What should be done? Where should you start? How can risk management enable, not hinder, the organization's strategic goals? This book answers these questions -- rightsizing risk for every organization -- using frontline-tested tools, (...) tips, and techniques. Whether you're a purpose-driven changemaker or just struggling to comply with a seemingly unending stream of regulation, we will make risk work for you. (shrink)

Risk management of nanotechnology is challenged by the enormous uncertainties about the risks, benefits, properties, and future direction of nanotechnology applications. Because of these uncertainties, traditional risk management principles such as acceptable risk, cost–benefit analysis, and feasibility are unworkable, as is the newest risk management principle, the precautionary principle. Yet, simply waiting for these uncertainties to be resolved before undertaking risk management efforts would not be prudent, in part because of the (...) growing public concerns about nanotechnology driven by risk perception heuristics such as affect and availability. A more reflexive, incremental, and cooperative risk management approach is required, which not only will help manage emerging risks from nanotechnology applications, but will also create a new risk management model for managing future emerging technologies. (shrink)

The relationship of corporate social responsibility to risk management has been treated sporadically in the business society literature. Using real options theory, I develop the notion of corporate social responsibility as a real option its implications for risk management. Real options theory allows for a strategic view of corporate social responsibility. Specifically, real options theory suggests that corporate social responsibility should be negatively related to the firm’s ex ante downside business risk.

Risk management is certainly one of the most important professional responsibilities of an engineer. As such, this activity needs to be combined with complex ethical reflections, and this requirement should therefore be explicitly integrated in engineering education. In this article, we analyse how this nexus between ethics and risk management is expressed in the engineering education research literature. It was done by reviewing 135 articles published between 1980 and March 1, 2016. These articles have been selected (...) from 21 major journals that specialize in engineering education, engineering ethics and ethics education. Our review suggests that risk management is mostly used as an anecdote or an example when addressing ethics issues in engineering education. Further, it is perceived as an ethical duty or requirement, achieved through rational and technical methods. However, a small number of publications do offer some critical analyses of ethics education in engineering and their implications for ethical risk and safety management. Therefore, we argue in this article that the link between risk management and ethics should be further developed in engineering education in order to promote the progressive change toward more socially and environmentally responsible engineering practices. Several research trends and issues are also identified and discussed in order to support the engineering education community in this project. (shrink)

Fallacious anthropomorphic attributions such as 'risky technology' take ethical accountability out of the hands of managers and relegate it to the deterministic or accidental outcomes of complex 'high risk technology'. Equally fallacious mechanistic terms such as 'organisational inertia' are borrowed from physics to apply to human organisations. The responsibility for ethically accountable decision-making is taken out of human hands and either ascribed to the mythological entity "Technology" or to the mythological bureaucratic organisation which functions as if it follows the (...) laws of physics. I argue in contrast that disasters can be prevented by demythologising the belief systems that pervade risk management literature. Risk management must reclaim ethical accountability by replacing notions such as 'risky technology', 'high risk technology', 'risky work' and 'bureaucratic drift' with 'risky assessment', 'risky management', 'risky choice' and 'multiple responsibility'. (shrink)

William F. Doverspike, PhD, is a licensed psychologist who holds a Diplomate in Clinical Psychology (ABPP) and he is also board certified in Neuropsychology (ABPN). He is an Associate Faculty member of the Georgia School of Professional Psychology, where he teaches graduate courses in professional ethics. As an independent practitioner, he maintains privileges at several local hospitals. He is a member of the Ethics Committee of the Georgia Psychological Association. Dr. Doverspike is Editor of the Georgia Psychologist magazine and has (...) authored over 50 articles and chapters. He conducts seminars on ethics, risk management, and diagnostic consultation. (shrink)

The key concept in Business Ethics has changed from ‘corporate social responsibility’ to ‘integrated risk‐management’. This change, first wrought by American laws, has been extended to other countries through globalization. The most important laws concern corruption, anti‐trust, consumer safety, environmental protection and insider‐trading. The ‘Federal Corporate Sentencing Guidelines’ have particularly been helpful in identifying and valuing business risks. The author proposes a ‘next‐generation’ Business Ethics integrating personal, professional and organizational ethics in the context of an institutionalized, country‐sensitive ‘corporate (...) culture’. (shrink)

Lack of supportive workplaces may be depriving babies and mothers of the health advantages of breastfeeding. This citizen science pilot project set out to engage women in photographing and sharing information on the available facilities for breastfeeding and expressing and storing breastmilk in Australian workplaces. While some useful insights were gained, the project failed in the sense that 234 people ‘liked’ the project Facebook page set up to recruit participants, but only nine photographs were submitted. The heaviest loss of participation (...) occurred after the ethics committee requirements were explained, in particular, the requirement for employer consent to take a photograph, or alternatively, for a participant to agree to bear the risk of taking a photo without permission. The ethics committee also made stipulations about the formality of language to be used. Thus, the project’s potential role as an enabler for health action was neutered. We argue that the ethics requirements worked contrary to our purpose and possibly acted to reinforce the powerlessness some women experience at work. (shrink)

Although risk and uncertainty are inevitable aspects of the sustainability problem, they are often neglected in the sustainability discourse, especially in the economic analysis of sustainable development. We argue that this deprives the sustainability discourse of interesting connections to risk management. We show that defining sustainability as the obligation to limit the risk of harming future individuals provides a framework in which tools from risk management, like mean-variance analysis, can be employed to analyze planning (...) decisions and to calculate a risk-minimizing policy mix. Furthermore, we discuss whether such a notion of sustainability can be an ethically tenable sustainability concept and how a positive probability of harming future individuals might be defended. (shrink)

This revised 2nd edition of Engineering Risk Management presents engineering aspects of risk management. After an introduction to potential risks the authors presents management principles, risk diagnostics, analysis and treatments followed by examples of practical implementation in chemistry, physics and emerging technologies such as nanoparticles.

Risks allow a probability calculation; uncertainties do not. The incalculability of uncertainties may depend on many different factors. It may be that one does not have all the relevant information and that by collecting more information one may eventually deduce the distribution of the relevant events. However, this chapter’s claim is stronger than that: it claims that uncertain events are such that no increase of available information will allow their treatment as risks. The uncertainty of uncertain events is structural and (...) does not depend on a lack of information. We shall distinguish uncertainty arising from incomplete knowledge from uncertainty inherent in the system. The former is a kind of risk, the latter is uncertainty proper. Risk and uncertainty pertain to two different classes of events and there is no crossable boundary between them.The vast majority of future events are uncertain in the sense specified. Put otherwise, only a tiny minority of future events are amenable to probability assessments.The difference between risks and uncertainties shows that the expression “risk management” is far from adequate, since it explicitly refers only to risks and sidelines uncertainties. On the other hand, both risks and uncertainties should be addressed. By adding a reference to anticipation, the expression “anticipatory risk management” suggests a perhaps less inadequate coverage of the field. (shrink)

In the paper we consider an electricity provider company that makes decision on allocating resources on electric network maintenance. The investments decrease malfunction rate of network nodes. An accidental event or a malfunctioning on underground system can have various consequences and in different perspectives, such as deaths and injuries of pedestrians, fires in nearby locations, disturbances in the flow of vehicular traffic, loss to the company image, operating and financial losses, etc. For this reason it is necessary to apply an (...) approach of the risk management that considers the multidimensional view of the consequences. Furthermore an analysis of decision making should consider network dependencies between the nodes of the electricity distribution system. In the paper we propose the use of the simulation to assess the network effects in the multidimensional risk assessment in electricity grid. The analyzed effects include node overloading due to malfunction of adjacent nodes and blackouts that take place where there is temporarily no path in the grid between the power plant and a node. The simulation results show that network effects have crucial role for decisions in the network maintenance – outcomes of decisions to repair a particular node in the network can have significant influence on performance of other nodes. However, those dependencies are non-linear. The effects of network connectivity on its multidimensional performance assessment depend heavily on the overloading effect level. The simulation results do not depend on network type structure – however simulation outcomes for random networks have shown higher variance compared to small-world networks. (shrink)

Using the work of Jacques Ellul on technique and its development, this paper criticizes the technological risk management discourse, which claims that risks are “managed” within reasonable limits. In fact, the inevitability of technological change and the uncertainty associated with technology-induced environmental risks, some of which are still totally unknown, undermine the very possibility of democratic governance of risk. Our reliance on technique and the common belief in its infallibility make it particularly arduous to the follow the (...) path showed by Ellul. (shrink)

The likely near future creation of artificial superintelligence carries significant risks to humanity. These risks are difficult to conceptualise and quantify, but malicious use of existing artificial intelligence by criminals and state actors is already occurring and poses risks to digital security, physical security and integrity of political systems. These risks will increase as artificial intelligence moves closer to superintelligence. While there is little research on risk management tools used in artificial intelligence development, the current global standard for (...) risk management, ISO 31000:2018, is likely used extensively by developers of artificial intelligence technologies. This paper argues that risk management has a common set of vulnerabilities when applied to artificial superintelligence which cannot be resolved within the existing framework and alternative approaches must be developed. Some vulnerabilities are similar to issues posed by malicious threat actors such as professional criminals and terrorists. Like these malicious actors, artificial superintelligence will be capable of rendering mitigation ineffective by working against countermeasures or attacking in ways not anticipated by the risk management process. Criminal threat management recognises this vulnerability and seeks to guide and block the intent of malicious threat actors as an alternative to risk management. An artificial intelligence treachery threat model that acknowledges the failings of risk management and leverages the concepts of criminal threat management and artificial stupidity is proposed. This model identifies emergent malicious behaviour and allows intervention against negative outcomes at the moment of artificial intelligence’s greatest vulnerability. (shrink)

Ethical dilemmas involving tax issues were identified by members of the American Institute of Certified Public Accountants as posing the most difficult ethical problem for them (Finn et al., Journal of Business Ethics 7(8), pp. 607–609, 1988). The KPMG tax shelter fraud case proves that the tax profession has not gone untainted in the age of numerous accounting and corporate scandals, such as the Enron débâcle (Sikka and Hampton, Accounting Forum 29(3), 325–343, 2005). High-profile scandals serve to highlight the problems (...) caused by differences in ethical judgement among accountants and tax practitioners and the issue of ethics has been brought publicly to the forefront of the profession. Nevertheless, the nature and dimension of ethical issues in tax practice have been largely unexplored (Erard, Journal of Public Economics 52(2), 163–197, 1993; Marshall et al., Journal of Business Ethics 17(12), 1265–1279, 1998; Frecknall Hughes, Unpublished PhD Thesis, The University of Leeds, 2002). This research aims to contribute to the debate on ethics in tax practice by reporting interview data on tax practitioners’ perceptions of ethics in the jurisdictions of Ireland and the United Kingdom and exploring the link or equation of ethics with risk management. (shrink)

Risk management has become a vital topic both in academia and practice during the past several decades. Most business intelligence tools have been used to enhance risk management, and the risk management tools have benefited from business intelligence approaches. This introductory article provides a review of the state-of-the-art research in business intelligence in risk management, and of the work that has been actepted for publication in this issue.

It is widely recognized that endocrine disrupting compounds, such as Bisphenol A, pose challenges for traditional paradigms in toxicology, insofar as these substances appear to have a wider range of low-dose effects than previously recognized. These compounds also pose challenges for ethics and policymaking. When a chemical does not have significant low-dose effects, regulators can allow it to be introduced into commerce or the environment, provided that procedures and rules are in place to keep exposures below an acceptable level. This (...) option allows society to maximize the benefits from the use of the chemical while minimizing risks to human health or the environment, and it represents a compromise between competing values. When it is not possible to establish acceptable exposure levels for chemicals that pose significant health or environmental risks, the most reasonable options for risk management may be to enact either partial or complete bans on their use. These options create greater moral conflict than other risk management strategies, leaving policymakers difficult choices between competing values. (shrink)

With the spread of Information and Communication Technologies tools and the Internet, Twenty first century technologies have significantly affected human life, and it has been desired to be obtained continuously. It has become challenging to protect information due to the increase in the methods by which malicious people can get information. As a result, it is crucial to determine people’s awareness levels by revealing the risks and threats to information security. In this context, a study was conducted to show the (...) awareness levels of teachers who come after the family in raising conscious individuals in society. For this purpose, a quantitative research method was adopted for the problem and sub-problems that form the basis of the research. The survey model, one of the research designs used within the framework of the quantitative research method, was used. Information Security Awareness Scale was applied to 394 teachers, and according to the results obtained, it was determined that the information security awareness level of the teachers was moderate. According to the attacks and threats sub-dimension, which includes technical issues, it has been determined that the awareness levels of the teachers are at a medium level. The study results show that female teachers’ information security awareness levels are lower than male teachers. In comparison, the awareness levels of those who received information security awareness training and information technology teachers are higher. (shrink)

This very short paper highlights some of my recent and forthcoming work on “good epistemic practices” in the financial services industry. It identifies some epistemic dimensions of risk management in banking and illustrates how managing for good epistemic practices might be helpful.

Factory floors throughout the global economy are rapidly transforming themselves into potentially fertile laboratories for research in the cognitive sciences. The information revolution has challenged our understanding of perception and cognition. Innovations in information technologies have also provided us with new methods and environments for the study of cognition. On the business and economic front, information technology is supporting the development of new corporate information systems-Enterprise Systems-that will revolutionize the decision-making, reporting and reward environments in corporations. These systems are pervasive (...) and transforming. At all levels, employees will be presented with potentially unlimited amounts of accurate, real-time information and will be expected to use that information effectively. The possibilities for research, especially for modeling the learning and decision-making processes, are unparalleled. Research conducted in these environments offers extraordinary opportunities to address research questions formerly requiring limited synthetic environmental situations. Data collected in firms as they deploy enterprise information systems can be more extensive and accurate and more easily quantified than data from traditional synthetic experiments. Research programs in these settings can also address more complex problems of human interaction and collaborativity. This article describes the aspects of enterprise systems that will be of greates interest to cognitive scientists. It also outlines the nature of potential collaboration between economists and cognitive scientists and offers a list of outstanding questions for systems design and development. (shrink)

This study examines the role of corporate philanthropy in the management of reputation risk and shareholder value of the top 100 ASX listed Australian firms for the 3 years 2011–2013. The results of this study demonstrate the business case for corporate philanthropy and hence encourage corporate philanthropy by showing increasing firms’ investment in corporate giving as a percentage of profit before tax, increases the likelihood of an increase in shareholder value. However, the proviso is that firms must also (...) manage their reputation risk at the same time. There is a negative association between corporate giving and shareholder value which is mitigated by firms’ management of reputation. The economic significance of this result is that for every cent in the dollar the firm spends on corporate giving, Tobin’s Q will decrease by 0.413 %. In contrast, if the firm increase their reputation by 1 point then Tobin’s Q will increase by 0.267 %. Consequently, the interaction of corporate giving and reputation risk management is positively associated with shareholder value. These results are robust while controlling for potential endogeneity and reverse causality. This paper assists both academics and practitioners by demonstrating that the benefits of corporate philanthropy extend beyond a gesture to improve reputation or an attempt to increase financial performance, to a direct collaboration between all the factors where the benefits far outweigh the costs. (shrink)

In this study, we investigate whether firms recognised as superior sustainability performers respond differently to climate change regulatory, physical and other risks/opportunities and examine whether such differences predict sustainability performance in subsequent years. Further, we seek to gain insights from climate change programs and strategies of both superior and inferior sustainability performers. Adopting mixed methods, we use a merged sample from the Top500 world’s largest firms and the Global 100 Most Sustainable Corporations. Our quantitative analyses show that greater awareness of (...) physical and other climate change opportunities is what sets superior performers apart, and that superior future sustainability performance is related to a firm’s stated awareness of these two types of opportunities. Qualitative content analysis of narrative disclosures confirm that superior performers provide more detailed description of climate change strategies that go beyond managing climate change risks. Our study contributes to the limited amount of research highlighting the value of proactively seeking opportunities rather than merely focussing on risk management. (shrink)

Reputation is a commercially valuable asset. This book focuses upon how enhanced reputation can contribute to commercial asset management through increased share price premium and competitive performance, while reputation loss can significantly erode the ability of the business to successfully retain market share, maximize shareholder value, raise finance, manage debt, and remain independent. It provides practical models and checklists designed to plan reputation management and risk communication strategies.

This volume explores various aspects of risk taking. It offers an analysis of financial, entrepreneurial and social risks, as well as a discussion of the ethical implications of empirical findings. The main issues examined in the book are the financial crisis and its implications for business ethics. The book discusses unethical behaviour as a reputational risk (e.g., in the case of Goldman Sachs) and the question is raised as to what extent the financial crisis has changed the banks’ (...) entrepreneurial strategy. The book presents an analysis of the reasons leading to the crisis and identifies them as ethical dilemma structures. In addition, it looks at general questions regarding ethical behaviour and risk taking, such as: To what extent does the social embeddedness or abstraction play a role in guaranteeing ethical behaviour? What conclusions can be drawn from institutional or evolutionary perspectives on risk management? Finally, the book discusses further issues that become factors of risk within and between societies, such as work insecurity, corruption or the problem of facilitation payments as a risk in international transactions. (shrink)

Open theism denies that God has definite exhaustive foreknowledge, and affirms that God takes certain risks when creating the universe. Critics of open theism often complain that the risks are too high. Perhaps there is something morally wrong with God taking a risk in creating a universe with an open future. Open theists have tried to respond by clarifying how much risk is involved in God creating an open universe, though we argue that it remains unclear how much (...) risk is actually involved. We claim that open theists need to start developing theories about how God manages risks in order to bring about His purposes for the universe. In this article, we will take a philosophical and biological perspective on risk management that adds plausibility to open theism. We will consider how God can use different risk‐management, surveillance, and redundancy systems in the natural world in order to accomplish His goals. (shrink)

Using exploratory factor analysis on a unique dataset of global executives, we find that their perceptions of their national government’s risk management effectiveness are largely driven by two latent factors: leadership virtue, and governance. We show that the leadership virtue signal is potentially a stronger signal. We hypothesize that this may be because making decisions and taking actions to manage risk is a continuous process requiring inter alia foresight and moral discipline in looking to the interests of (...) others and acting in service to those interests above self-interest. This suggests at least two propositions for further testing, for which, we offer rhetorical argument and anecdotal evidence at the end of this paper and suggest methodologies for further testing. To our knowledge, this is the first paper to uncover this connection empirically between national risk management and leadership virtue. (shrink)

We make many decisions in our livesand we weigh the benefits against thedrawbacks. Our decisions are based on whatbenefits are most important to us and whatdrawbacks we are willing to accept. Decisionsabout what we eat are made in the same way; butwhen it comes to safety, our decisions areusually made more carefully. Food containsnatural chemicals and it can come into contactwith many natural and artificial substancesduring harvest, production, processing, andpreparation. They include microorganisms,chemicals, either naturally present or producedby cooking, environmental contaminants, (...) andpesticides. Since the chance of being harmed bythese potential hazards is called risk, riskanalysis might be better termed as the scienceof safety, because risk management is anessential part of it. It would, however, bedifficult and shortsighted to maintain thatquestions about risk and safety can have nomoral dimension. Risk and safety become mattersof moral concern when they raise furtherquestions about responsibility, accountability,and justifiability. The question of risk cannotbe ignored in any ethical investigation ofgenetic engineering, novel foods, animalwelfare, and individual choices. However, foodis more than metabolic fuel. It hasphysiological, psychological, social, cultural,and aesthetic associations that merge to form agestalt that people endanger and maintain. Thecontribution of any food towards anindividual's well being is as complex as theindividual himself. In this context, thebenefits of consuming food that containshazards may outweigh the risk. (shrink)

When developing computational models to analyze the tradeoffs between climate risk management strategies (i.e., mitigation, adaptation, or geoengineering), scientists make explicit and implicit decisions that are influenced by their beliefs, values and preferences. Model descriptions typically include only the explicit decisions and are silent on value judgments that may explain these decisions. Eliciting scientists’ mental models, a systematic approach to determining how they think about climate risk management, can help to gain a clearer understanding of their (...) modeling decisions. In order to identify and represent the role of values, beliefs and preferences on decisions, we used an augmented mental models research approach, namely values-informed mental models (ViMM). We conducted and qualitatively analyzed interviews with eleven climate risk management scientists. Our results suggest that these scientists use a similar decision framework to each other to think about modeling climate risk management tradeoffs, including eight specific decisions ranging from defining the model objectives to evaluating the model’s results. The influence of values on these decisions varied between our scientists and between the specific decisions. For instance, scientists invoked ethical values (e.g., concerns about human welfare) when defining objectives, but epistemic values (e.g., concerns about model consistency) were more influential when evaluating model results. ViMM can (i) enable insights that can inform the design of new computational models and (ii) make value judgments explicit and more inclusive of relevant values. This transparency can help model users to better discern the relevance of model results to their own decision framing and concerns. (shrink)

This paper discusses the political implications of the British military's Trauma Risk Management (TRiM) approach to personnel suffering from combat-related mental debilities such as post-traumatic stress disorder. Drawing on narratives that emerged from qualitative interviews with trained TRiM practitioners and military welfare workers, I tease out some of the assumptions and beliefs about mental health and mental illness that underpin this mental health intervention programme. I explore TRiM as a biopolitical strategy targeted towards the construction of a particular (...) conceptualisation of mental wellness and militarised masculine personhood. As a biopolitical strategy, I argue that TRiM plays an important role in the construction of ideas around mental well-being and mental frailty that best enable the operation of military power in the contemporary British context. I discuss the narrative of transformation in militarised models of masculinity that emerge from discussions of TRiM, and highlight the important political function that this plays in enabling and legitimating militarism. Finally, I draw attention to the ways in which the focus on individual and cultural factors, rather than war as the primary cause of difficulties for servicemen experiencing psychological distress, functions to neutralise the potential trouble that could be instigated for the British military by the bodies of servicemen psychologically damaged by their experiences of conflict. (shrink)

This article addresses the connection of ethics to risk management, and argues that there are compelling reasons to consider good ethical practice to be an essential part of such risk management. That connection has significant commercial outcomes, which include identifying potential problems, preventing fraud, the preservation of corporate reputation, and the mitigation of court penalties should any transgression arise. Information about the legal position, examples of cases, and arguments about the potential benefits of ethics are canvassed. (...) The orientation of this article is essentially Australian. It is hoped that it may provide some insights of value to other countries. (shrink)

The precautionary principle (PP) is fundamentally a claim that acting to avoid and/or mitigate threats of serious harm should be accorded high priority in public policy. Over the last three decades, governments and international bodies have endorsed it in principle, and some of them have incorporated it into some areas of policy practice. Yet, PP is controversial in policy circles, public discussion and scholarly discourse. Here the PP literature is reviewed from the perspective of economics, where the tendency is to (...) see theory and methods for rational decision-making under risk and uncertainty as well-established and risk management tools as well developed, and to view the PP with some circumspection. Following a brief introduction to PP concepts, history, applications, and controversies, I review and critique the standard economic approach to decision-making and risk management (here labeled ordinary risk management, ORM), identifying areas of incompleteness especially in the treatment of disproportionate and asymmetric threats. After reviewing some of the more prominent PP controversies in the scholarly literature, I suggest a conceptual framework for a PP that may withstand the major criticisms levied against the PP and make a unique and valid contribution to a decision and risk management arsenal that includes ORM. The framework relates the nature of the threat, the evidence, and the remedy indicated; and each of these elements is discussed in some detail. The scope of this PP is identified in general terms and distinguished from the quantity restrictions and regulatory safety margins that often serve as practical heuristics when ORM-based policies are implemented. Because the PP is clearly identified as a principle, I discuss the role of principles in policy design and implementation, and conclude with some suggestions as to how this PP could guide policy and management. (shrink)

This paper addresses the phenomenon of incomplete preferences in disaster risk management. If an agent finds two options to be incomparable and thus has an incomplete preference ordering, i.e., neither prefers one option over the other nor finds them equally as good, it is not possible for the agent to perform a value tradeoff, necessary for an informed decision, between these two options. In this paper we suggest a way to model incomplete preference orderings by means of probabilistic (...) preferences, and how to reveal an agent’s incomplete preference ordering within a behaviorist framework. (shrink)

Food allergy represents an increasing public health issue, and a large number of food control authorities have provided regulations aimed to minimize the risk of allergic reaction for sensitized consumers. The Food and Agriculture Organization of the United Nations together with the World Health Organization established the Codex Alimentarius Commission whose main goal is to protect the consumers’ health. To purse this task the Commission listed the foods and ingredients causing the most severe allergic reactions that should be labelled. (...) It has been reported that some cases of specific foods hypersensitivity display a different prevalence among different Countries. Thus, the European Union drew up a list of mandatory allergens longer than that provided by Codex Alimentarius. As a consequence of the complexity of the legal phraseology of the European Union and/or European Community the Regulations and/or Directives were differently translated in all EC/EU official languages determining possible misinterpretations of the legislation. Moreover, food labelling regulations were also established with the goal to promote the consumers’ conscious choice about what they eat. Starting from the case of the fermented beverages, we analysed the European legislative scenario concerning the allergen labelling of the last fifteen years, highlighting that mistranslations, misinterpretations and lack of information in the EU Regulations might lead to health and ethical issues. (shrink)

In this chapter, we will argue that the very concept of risk management must be called into question. The argument will take the form that the use of the phrase ‘risk management’ operates to cover over the ethical dimensions of what is at the bottom of the problem, namely, risky decision making. Risky decision making takes place whenever and wherever decisions are taken by those whose lives are not immediately threatened by the situation in which the (...) risk to other people’s lives is created by their decision. The concept of risk management implies that risk is already there, not created by the decision, but lies already inherent in the situation that the decision sets into motion. The risk that exists in the objective situation simply needs to be “managed”. By changing the semantics of ‘risk management’ to ‘risk taking’ or ‘risky decision making’, the ethics of responsibility for risking other people’s lives will come into focus. The argument of the chapter is that by heightening the ethical sensitivity of decision makers, these decision makers will be less likely to make decisions that will cause harm and/or death to those who are the principal actors in the situation created by the decision. (shrink)