Representations of uncertainty in risk analysis
thesisposted on 22.02.2018 by David G. Johnson
In order to distinguish essays and pre-prints from academic theses, we have a separate category. These are often much longer text based documents than a paper.
Uncertainty in situations involving risk is frequently modelled by assuming a plausible form of probability distribution for the uncertain quantities involved, and estimating the relevant parameters of that distribution based on the knowledge and judgement of informed experts or decision makers. The distributions assumed are usually uni-modal (and often bell-shaped) around some most likely value, with the Normal, Beta, Gamma and Triangular distributions being popular choices. [Continues.]
- Business and Economics