Abstract
Risk assessment is said to be unreliable for risks of low likelihood and very high consequence. In this chapter we explain why, and offer guidelines on how to deal with such situations. We also discuss the problem of the “unknown unknown”, often referred to as the “black swan problem”.
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Refsdal, A., Solhaug, B., Stølen, K. (2015). High Consequence Risk with Low Likelihood. In: Cyber-Risk Management. SpringerBriefs in Computer Science. Springer, Cham. https://doi.org/10.1007/978-3-319-23570-7_14
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DOI: https://doi.org/10.1007/978-3-319-23570-7_14
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Publisher Name: Springer, Cham
Print ISBN: 978-3-319-23569-1
Online ISBN: 978-3-319-23570-7
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