Defining risk

@article{Fischhoff1984DefiningR,
  title={Defining risk},
  author={Baruch Fischhoff and Stephen R. Watson and Chris Hope},
  journal={Policy Sciences},
  year={1984},
  volume={17},
  pages={123-139}
}
Risk is the focal topic in the management of many activities and technologies. For that management to be successful, an explicit and accepted definition of the term “risk” is essential. Creation of that definition is a political act, expressing the definers' values regarding the relative importance of different possible adverse consequences for a particular decision. Those values, and with them the definition of risk, can change with changes in the decisionmaker, the technologies considered, or… 

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