Problems with scoring methods and ordinal scales in risk assessment

@article{Hubbard2010ProblemsWS,
  title={Problems with scoring methods and ordinal scales in risk assessment},
  author={Douglas Hubbard and Dylan Evans},
  journal={IBM J. Res. Dev.},
  year={2010},
  volume={54},
  pages={2}
}
Risk assessment methods based on scoring methods that rate the severity of each risk factor on an ordinal scale are widely used and frequently perceived by users to have value. [...] Key Method We then review the literature on the use of ordinal scales in risk analysis, the use of "verbal scales" for eliciting estimates of risks and probabilities, and the extensive research about peculiar human errors when assessing risks. We also supplement this overview with some data of our own. When these diverse kinds of…Expand

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