{"product_id":"epistemic-risk","title":"Epistemic Risk","description":"The articles included in this thesis centre on\u003cbr\u003ewhat can be called the normative basis of\u003cbr\u003erisk analysis. Since risk analyses are decision\u003cbr\u003eprocedures, they should adhere to norms of\u003cbr\u003erational decision-making, and this they do.\u003cbr\u003eMost risk analysis schemes are built on a\u003cbr\u003enotion of the decision theoretic maxim that\u003cbr\u003ethe goal of every decision is to maximize\u003cbr\u003eexpected utility. However, for some thirty years\u003cbr\u003enow this maxim has been called into question.\u003cbr\u003eThe idea is not that it is unreasonable in itself,\u003cbr\u003ebut that the theoretical construct of which it is\u003cbr\u003ea consequence is in some way inappropriate.\u003cbr\u003eIdealizations of the theories are criticized for\u003cbr\u003ebeing too excessive. They do not properly\u003cbr\u003ecover\u003cbr\u003ecases where the decision maker has\u003cbr\u003epoor or, as it were, imprecise knowledge. If it\u003cbr\u003eis important for a normative decision theory\u003cbr\u003eto be not only ideal as a theoretical construct,\u003cbr\u003ebut to have, in addition, a prescriptive\u003cbr\u003epurpose,\u003cbr\u003ethat theory should also be applicable\u003cbr\u003eto actual decision makers.","brand":"Media-Tryck","offers":[{"title":"Default Title","offer_id":31914583687257,"sku":"9789176230411","price":18.95,"currency_code":"EUR","in_stock":true}],"url":"https:\/\/www.suomalainen.com\/products\/epistemic-risk","provider":"Suomalainen.com","version":"1.0","type":"link"}