FOR GEOLOGICAL DISPOSAL OF NUCLEAR WASTE Some aspects regarding the reliability of risk assessments for geological disposal of nuclear waste are investigated. The input for the study is given by the opinions of some interviewed Dutch experts and existing literature. The Dutch risk assessment PROSA is used as an example, but the conclusions are seen to be valid more generally. In the PROSA study...

It is well-known that reinsurance can be an effective risk management solution for financial institutions such as the insurance companies. The optimal reinsurance solution depends on a number of factors including the criterion of optimization and the premium principle adopted by the reinsurer. In this paper, we analyze the Value-at-Risk (VaR) based optimal risk management solution using reinsur...

We study a variant of the standard stochastic multi-armed bandit problem when one is not interested in the arm with the best mean, but instead in the arm maximising some coherent risk measure criterion. Further, we are studying the deviations of the regret instead of the less informative expected regret. We provide an algorithm, called RA-UCB to solve this problem, together with a high probabil...

The offer of a delayed period for payment from suppliers may help retailers to order more but also improve the total supply chain performance. In this paper, we adopt Conditional Value-at-Risk, CVaR, as the performance criterion to examine how supply chain performance is affected through the deferred payment contract. Analytical results are yielded for the newsvendor retailer’s optimal order qu...

This paper considers a new class of multi-product source and multi-period fuzzy random production planning problems with minimum risk and service levels where both the demands and the production costs are assumed to be uncertain and characterized as fuzzy random variables with known distributions. The proposed problems are formulated as a fuzzy random production planning (FRPP) model by maximiz...

In this paper, a hide-and-search game with the risk criterion is investigated. The target space consists of n discrete regions and each region is characterized by the searching cost, the detection rate per unit searching effort and the reward when the target is detected. At the beginning of the game, a target selects a region so as to maximize the expected risk of the search and hides himself i...

A slice of a program P with respect to a slicing criterion C ≡ ({var}, c_stmt) is a subset of the program which includes all statements that directly or indirectly affect the value of variable var in c_stmt [1,10–12]. A static slice includes all statements which might affect the value of var. It is constructed using program analysis techniques. A dynamic slice consists of only those statements ...

Life-Cycle Assessment (LCA) analyzes the total energy and resource requirements and environmental impact of human-designed systems. Both policymakers and industry have shown a great deal of interest in applying LCA as a decision-making criterion during planning and design for new pavement construction, and maintenance and rehabilitation activities. This interest results from two different persp...

` ` Following the characterizations provided by Barbera and Jackson [Barbera, S., Jackson, M.O., 1988. Journal of Economic Theory 46, 34–44] for the maximin, the leximin, and the protective criterion, we examine the consequences of replacing convexity in their list of axioms by concavity, which means considering risk-loving instead of risk-averse agents. This yields characterizations of the max...

Living in a residential high-rise is now becoming a lifestyle trend among the urban professional community in Malaysia. As opposed to a landed property, in a residential high-rise, residents must set up a Management Corporation (MC) to regulate and manage all the amenities provided by the developer, as stipulated in the Strata Title Act of 1985. To a certain extent, the idea seems to work succe...