Titlebook: Risk Theory; Rational Decision in Nicholas Rescher Book 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG 2022

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The Social Aspect of Risk, when this individual is helpless, then if something is to be done about that risk it must be done by others. Of course the which, when and how of it is a matter for resolution by the “potential” process.

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Book 2022tain key factors—including outcome possibilities, overall expectation, threat, and even luck—are measurable parameters. But risk is something different: it is not measurable a single parametric quantity, but a many-sided factor that has several different components, and constitutes a complex phenome

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Abnormal Situations and Eccentric Measurements,cceptable and others as altogether unrealistic. And to fit our assessment into the range of afforded by the standard machinery of risk calculation, two eccentric quantities must accordingly be introduced, catastrophic (−∞) outcome yields and virtually zero (∈) probabilities. Let us consider this mor

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Situation Evaluation and Expectation,e as inducement to bear the chance of loss inherent in the risk. Alternatively, accepting a given risk may provide a means of averting an even greater risk—one risk may simply prove to be “the lesser evil.” In all such cases, however, rational deliberation requires some mechanism for comparing the r

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The Social Aspect of Risk, when this individual is helpless, then if something is to be done about that risk it must be done by others. Of course the which, when and how of it is a matter for resolution by the “potential” process.

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