Industry is increasingly adopting software and system safety standards that mandate the use of hazard logs in the development and operation of safety critical systems. Hazard logs are used to record and track the results of hazard analysis and risk assessment throughout the lifecycle of the system. Even relatively simple systems give rise to large amounts of information and the need for tools t...

A contrast between the Roman and Chinese empires is that the military was empowered in Rome and disempowered in China. To explain the difference, this paper considers a principal-agent model where the military may revolt, the civilians may shirk, and the social planner chooses a degree of military empowerment, which affects the military’s capability to defend, and that to usurp, the empire. It ...

We analyze debt choice in light of taxes and moral hazard. The model features an infinite sequence of nonzero-sum stochastic differential games between equity and debt. Closed-form expressions are derived for all contingent-claims. If equity can increase volatility without reducing asset drift, callable bonds with call premia are optimal. Although callable bonds induce risk shifting, call premi...

risk assessment and management of petrochemical feed and product transportation pipelines is very important to preventing probable accidents. so, 60 pipelines evaluated by chemical exposure index and chlorine pipeline due to high hazard distances selected for relative risk analysis. the chlorine pipeline with 3468 meter length divided to 100 meter sections, and third party damage index (tpdi), ...

We provide a new class of counter-examples to existence in a simple moral hazard problem in which the first-order approach is valid. In contrast to the Mirrlees example, unbounded likelihood ratios on the signal technology are not central. Rather, our examples center around the behavior of the utility function as utility diverges to negative infinity. For any utility function, such as ln(w), in...

the main purpose of this study is landslide hazard assessment the ziarat watershed (golestan province) using information value and lnrf models within geographic information. at first stage, a landslide inventory map was prepared in the study area using earlier reports and aerial photographs, and a total of 50 landslides was mapped and out of which 35 (70%) were randomly selected for building la...