Let Me Get Back to You on That – Error Cost, Uncertainty and the Management of Extreme Events

Fischbacher-Smith, D. , Fischbacher-Smith, M. and Scott, M. (2011) Let Me Get Back to You on That – Error Cost, Uncertainty and the Management of Extreme Events. In: ISI 58th World Statistics Congress of the International Statistical Institute, Dublin, Ireland, 21-26 Aug 2011,

Abstract

The manner in which organisations incorporate evidence into their decision-making processes has been the subject of considerable discussion within the literature. The nature of evidence, and the uncertainty that surrounds its construction, use, and legitimisation, is an issue that remains problematic when dealing with low probability, high consequence events. Of particular interest is the manner in which organisations narrow their 'boundaries of consideration' when dealing with policy decisions and the emergence of hazards. This paper seeks to explore the manner in which organisations incorporate different forms of evidence in the policy making process around 'extreme events' and the role of the precautionary principle for 'high risk' activities.

• Item Type: Conference Proceedings
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Fischbacher-Smith, Professor Moira and Fischbacher-Smith, Professor Denis
• Authors: Fischbacher-Smith, D., Fischbacher-Smith, M., and Scott, M.
• College/School: College of Social Sciences > Adam Smith Business School > Management