Controlling ground water quality is a major environmental goal for New Jersey citizens. Controlling nitrate nitrogen in ground water is particularly important because of the risk it poses to human health, and because of its ability to enter streams and lakes and to enhance the harmful process of eutrophication. In order to control nitrate levels in ground water and surface water, it is necessar...

The Estonian Tax and Customs Board (MTA) has identified that Estonia is losing over 220 million euros a year due to avoidance of value-added tax (VAT). The parliament proposed legislation that makes companies declare their purchase and sales invoices for automated risk analysis and fraud detection. The law was vetoed by the Estonian President on the grounds of confidentiality breach and unneces...

If you are lurking on popular photo forums, you have probably noticed that some people say Nikon/Sony/Pentax/others have more dynamic range than Canon cameras [1, 2, 3]. The difference is visible in extreme lighting conditions when you try to bring shadow detail, the image from Canon dSLRs tends to get a bit noisier (Figure 1). Can we do something about it? YES. It’s all about how you are scann...

A Bayesian Belief Network (BBN) is a valuable tool to represent the causal relationships that exist in a given set of variables. This paper presents a methodology for organizational risk analysis for safety management. Learning a BBN from data is a difficult and resource-consuming task, we presents the implementation of a greedy algorithm that automatically constructs a BBN from a dataset of ca...

From the outsourcer’s perspective, the IS outsourcing literature emphasizes the importance of contracts and risk awareness for managing outsourcing ventures. However, there is a lack of proven and tested outsourcing management concepts in theory and practise incorporating contractual designs to effectively counter risk. By extending the risk model of Bahli and Rivard (2001) we investigate the i...

Portfolio selection is concerned with optimization of capital allocation to a large number of securities. In portfolio selection, risk analysis is one of the most important topics and research on quantitative definition of risk remains core of the topic. This paper proposes a novel risk definition for portfolio selection with uncertain returns. A risk curve is introduced and a new safe criterio...

This paper discusses various approaches to risk analysis of infrastructure systems. The discussion is applied to electric power delivery systems, i.e. transmission and distribution of electric power, with an emphasis on the electric power grid in Sweden. In reviewing a number of the methods of risk analysis, it is concluded that methods from the systems safety and reliability discipline can to ...

For decades, actuaries have historically used statistical and financial models that were inherently considered deterministic in the sense that random fluctuations are often ignored, although some type of sensitivity of the parameter and model assumptions have been employed to have a sense of the possible variation in the results. Today, such sensitivity analysis is unacceptably appropriate when...

In this paper we investigate when public enforcement of insider trading regulations reduces the amount of insider trading. We model a game between a potentially self-interested regulator enforcing insider trading laws and a trader who may be trading on inside information. We show that equilibrium strategies exist where despite active enforcement all inside information is used. Furthermore, we f...

Although a variety of information security risk management (ISRM) approaches have been proposed, well-founded methods that provide an answer to the following question are still missing: How can the risk level of a business process be determined by taking the risk levels of the involved resources into account? This paper presents our research results regarding resource-based risk analysis method...