Multi-Party Risk Management Decision Processes
Societal risk management decisions are usually made by multiple participants and reflect the interests of multiple stakeholders with partially conflicting interests and beliefs. The participants interact through decision processes in which individual proposals, choices, offers, commitments, and actions or behaviors are iteratively modified until an outcome is reached. Examples of such decision processes include contracts, negotiation (with or without arbitration), auctions, voting, tort liability systems, regulation, market processes and legislative politics.
KeywordsNash Equilibrium Risk Management Private Information Social Contract Risk Communication
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