The advanced measurement approach (AMA) proposed by the Basel Committee to calculate regulatory capital against operational risk is problematical because there is no consensus on what constitutes this approach, because its implementation is difficult, and because it is unlikely to pay off in terms of costs and benefits. It is argued that there is no obvious reason why the AMA would produce lowe...

The present article contains an analysis of differences between licensing and franchising. It is demonstrated that models of royalty rate calculation developed for licensing should not be applied to franchising as benefits received by licensee and franchisee are different. It is proposed to include in the model of royalty calculation the risk reduction generated by franchisor’s effective techno...

In safety, environmental, and financial regulation the public are often asked to accept estimates of a concept, “risk”, that they cannot directly perceive. Faith in these estimates is supported by logical reasoning but not by empirical evidence. Unfortunately, the evidence that does exist about risk phenomena indicates that human reasoning about risk is highly unreliable. In this paper we deter...

Since 9/11, many western nations have re-framed their national security decisions in terms of strategic risk management. All have undertaken risk assessments, but valid translation into capability priorities has been abdicated largely by transferring priorities directly from risk magnitudes. Treatment priorities should be determined from risk reduction benefits in relation to costs, but a metho...

Economic theory emphasizes that pursuing risk sharing allows to exploit benefits from comparative advantages and economies of scale. Unlike previous works we test (and reject) the assumption of parameter homogeneity across geographical units in measuring risk sharing. The estimated regional-specific index of risk sharing is then used as a covariate in a model of industrial specialization for th...

Studies have consistently found that safety and security are major public concerns; however, crime is rarely considered as an outcome in public health. The recent shift by planning policy towards promoting compact, 'walkable' communities close to public transport aims to redress many of the problems associated with urban sprawl. However, communities that do not feel safe are less likely to be a...

How much radiation does it take to cause our risk for an observable health effect to increase? Is there a level of radiation that is safe? How is radiation beneficial? The question of an effect occurring because of radiation exposure and the question of whether low‐ level radiation is safe are much‐debated topics. There are many thoughts on the answers to these questions, and suggested answers ...