Cover Image
Read Now

Probabilistic Risk Analysis and Bayesian Decision Theory

The book shows how risk, defined as the statistical expectation of loss, can be formally decomposed as the product of two terms: hazard probability and system vulnerability. This requires a specific definition of vulnerability that replaces the many fuzzy definitions abounding in the literature. The...

Full description

Bibliographic Details
Main Authors: van Oijen, Marcel, Brewer, Mark (Author)
Format: eBook
Language:English
Published: Cham Springer International Publishing 2022, 2022
Edition:1st ed. 2022
Series:SpringerBriefs in Statistics
Subjects:
Statistical Theory And Methods
Statistics 
Bayesian Inference
Biostatistics
Biometry
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
LEADER 02033nmm a2200313 u 4500
001 EB002134774
003 EBX01000000000000001272831
005 00000000000000.0
007 cr|||||||||||||||||||||
008 221201 ||| eng
020 |a 9783031163333 
100 1 |a van Oijen, Marcel 
245 0 0 |a Probabilistic Risk Analysis and Bayesian Decision Theory  |h Elektronische Ressource  |c by Marcel van Oijen, Mark Brewer 
250 |a 1st ed. 2022 
260 |a Cham  |b Springer International Publishing  |c 2022, 2022 
300 |a XIII, 114 p. 1 illus  |b online resource 
653 |a Statistical Theory and Methods 
653 |a Statistics  
653 |a Bayesian Inference 
653 |a Biostatistics 
653 |a Biometry 
700 1 |a Brewer, Mark  |e [author] 
041 0 7 |a eng  |2 ISO 639-2 
989 |b Springer  |a Springer eBooks 2005- 
490 0 |a SpringerBriefs in Statistics 
028 5 0 |a 10.1007/978-3-031-16333-3 
856 4 0 |u https://doi.org/10.1007/978-3-031-16333-3?nosfx=y  |x Verlag  |3 Volltext 
082 0 |a 519.5 
520 |a The book shows how risk, defined as the statistical expectation of loss, can be formally decomposed as the product of two terms: hazard probability and system vulnerability. This requires a specific definition of vulnerability that replaces the many fuzzy definitions abounding in the literature. The approach is expanded to more complex risk analysis with three components rather than two, and with various definitions of hazard. Equations are derived to quantify the uncertainty of each risk component and show how the approach relates to Bayesian decision theory. Intended for statisticians, environmental scientists and risk analysts interested in the theory and application of risk analysis, this book provides precise definitions, new theory, and many examples with full computer code. The approach is based on straightforward use of probability theory which brings rigour and clarity. Only a moderate knowledge and understanding of probability theory is expected from the reader 

Similar Items