A Probabilistic Methodology for the Assessment of Safety from Dropped Loads in Offshore Engineering

Pipeline damage by dropped objects from crane activities is a significant hazard for offshore platform installations. In this paper a probabilistic methodology is utilized for the estimation of the pipeline impact and rupture frequencies; this information is obtained both for the overall pipeline section exposed to the hazard and for a number of critical locations along the pipeline route. The presented algorithm has been implemented in a computer program that allows the analysis of a large number of possible drop points and pipeline target point locations. This methodology may be used in common risk analysis studies for evaluating the risk for platform personnel from dropped objects; however, the proposed technique may also be useful for other applications where engineering judgment has so far been the main driving criterion. In particular, two sample cases have been analyzed. The first one is the problem of selecting the best approaching route to a platform. By analyzing different route alternatives, a reduction of the impact frequency and therefore of the risk for the platform personnel may be achieved. The second application deals with the selection of the location for a safety valve at the riser base. The analysis may give useful information, such as the highest impact frequency location and the rupture frequencies upstream and downstream of the valve as a function of the valve position; this information, together with the transported medium inventory upstream of the valve, may give the designer a documented and justifiable rationale for selecting the best location for the valve from a safety point of view.     

Evaluating the Simplified Conjoint Expected Risk Model: Comparing the Use of Objective and Subjective Information

The simplified Conjoint Expected Risk (CER) model by Holtgrave and Weber posits that perceived risk is a linear combination of the subjective judgments of the probabilities of harm, benefit, and status quo, and the expected harm and benefit of an activity. It modifies Luce and Weber's original CER model—that uses objective information to evaluate financial gambles—to accommodate activities such as health/technology activities where values of the model variables are subjective. If the simplified model is a valid modification of the original model, its performance should not be sensitive to the use of subjective information. However, because people may evaluate information differently when objective information is provided to them than when they generate information on their own, the performance of the simplified CER model may not be robust to the source of model-variable information. We compared the use of objective and subjective information, and results indicate that the estimates of the simplified CER model parameters and the proportion of variance in risk judgments accounted for by the model are similar under these two conditions. Thus, the simplified CER model is viable with activities for which harm and benefit information is subjective.     

Stock Returns and Expected Business Conditions: Half a Century of Direct Evidence

Using survey data, we characterize directly the impact of expected business conditions on expected excess stock returns. Expected business conditions consistently affect expected excess returns in a counter-cyclical fashion. Moreover, inclusion of expected business conditions in otherwise-standard predictive return regressions substantially reduce the explanatory power of the conventional financial predictors, including the dividend yield, default premium, and term premium, while simultaneously increasing R². Expected business conditions retain predictive power even when including the key nonfinancial predictor, the generalized consumption/wealth ratio. We argue that time-varying expected business conditions likely capture time-varying risk, whereas time-varying consumption/wealth may capture time-varying risk aversion.     

Violence in the nursing profession: Occupational and lifestyle risk factors in Swedish nurses

Abstract

In a national study of the work environment, physical, and mental well-being of more than 2600 Swedish nurses, 30% reported having experienced violence at work. Possible association between violence and a range of occupational, demographic, and lifestyle characteristics were studied. Stepwise multiple linear and logistic regressions were used to further examine risk factors for violence. Occupational factors with significant correlations to workplace violence were nursing discipline (type of ward or facility), years of work experience, supervisory responsibilities, night work, work dissatisfaction, work-related musculoskeletal injury, and frequency of patient handling. Demographic/lifestyle factors related to violence were age, gender, smoking, coffee consumption at work, and use of alcohol to relax after work. The best fit linear regression model explained 17% of the variance in violence, 13%, of the variance in threat of violence. The logistic regression model confirmed an increased risk of violence and threats in psychiatric and geriatric settings. However, much remains unexplained about the aetiology of violencc in health carc settings. This report provides the basis for a pilot intervention study currently in progress.     

Role of Negative Emotion in Communication about CO2 Risks

This article describes how the effectiveness of risk communication is determined by the interaction between emotional and informative elements. An experiment is described that examined the role of negative emotion in communication about CO₂ risks. This experiment was based on the elaboration likelihood model and the related heuristic systematic model of attitude formation. The results indicated that inducing fear of CO₂ risks leads to systematic processing of information about energy conservation as a risk-reducing strategy. In turn, this results in more favorable attitudes toward energy conservation if strong arguments are provided. Individual differences in concern seem to have similar effects.     

“Risk Society”: The Cult of Theory and the Millennium?

The relation between theory and empirical data in sociology and social policy is explored through a critique of Ulrich Beck's influential book, Risk Society . Consideration is given to the extent to which a book that purports to describe contemporary societies in general is actually rooted in the unique circumstances of postwar Germany. The various arguments of Risk Society are reviewed and tested against relevant empirical reports from England. Many of the historical and contemporary generalizations made by Beck are shown to be questionable. The conclusion reflects on the popularity of the genre in which Beck is working and questions the consistent glumness of its attitude to contemporary societies—whether those of the 1890s or the 1990s. The new millennium might be a time for a new spirit and the rejection of the nostalgia and conservatism of humanities-oriented scholarship.     

Risk Perception, Federal Spending, and the Savannah River Site: Attitudes of Hunters and Fishermen

This paper examines the attitudes of 285 hunters and fishermen from South Carolina about hunting and fishing, risk, environmental issues, and future land use of the Savannah River Site. We test the null hypothesis that there is no difference in hunting and fishing rates, attitudes toward the safety of fish and deer obtained from SRS, attitudes toward future land use at SRS, and perceptions of the severity of environmental problems as a function of how far respondents lived from the site. Respondents hunted or fished an average of over 40 days a year, and only half felt that the fish and deer from SRS were safe to eat. Willingness to expend federal funds was correlated with perceptions of the severity of the problem. Preferences for future land use at SRS fell into three categories: high (environmental research park, hunting, fishing, camping), medium (nuclear production, factories, preserve only), and low (nuclear waste storage, residential). There were no differences in hunting and fishing rates, ranking of the severity of environmental problems, and willingness to expend federal funds as a function of distance of residence from SRS, but attitudes toward future land use differed significantly as a function of location of residence. Those living close to SRS were more willing to have the site used for factories, residential, nuclear material production and to store nuclear wastes than those living farther from the site. Our data on recreational rates, attitudes toward future land use, and willingness to expend federal funds to solve environmental problems reiterate the importance of assessing stakeholder attitudes toward decisions regarding future land use at DOE sites     

Gender differences in risk behaviour in financial decision-making: An experimental analysis

This paper examines whether gender differences in risk propensity and strategy in financial decision-making can be viewed as general traits, or whether they arise because of context factors. It presents the results of two computerised laboratory experiments designed to examine whether differences in risk preference and decision strategies are explained by the framing of tasks and level of task familiarity to subjects. The results show that females are less risk seeking than males irrespective of familiarity and framing, costs or ambiguity. The results also indicate that males and females adopt different strategies in financial decision environments but that these strategies have no significant impact on ability to perform. Because strategies are more easily observed than either risk preference or outcomes in day to day decisions, strategy differences may reinforce stereotypical beliefs that females are less able financial managers.     

Tobacco—the importance of relevant information on risk

Summary. Although it has been widely accepted since the 1960s that smoking cigarettes carries a substantial health risk, worldwide mortality from tobacco-related diseases is increasing rapidly at the beginning of the 21st century. To provide the motivation to control this epidemic there is a continuing and pressing need for information on the risks of tobacco consumption that is accurate, up to date, locally relevant and imaginatively presented.     

金融风险度量VaR与CVaR方法的比较研究及应用

风险价值(VaR)是近年来受到国际金融界的广泛支持和认可的一种度量金融风险的工具。文章指出了风险价值(VaR)模型两个重大的缺陷,并对它和条件风险价值(CVaR)金融风险度量模型进行了详细的介绍和对比分析,给出了它们的共同点和CVaR在投资组合应用中的优势,结合中国金融市场的实际情况,指出CvaR在中国金融市场中应用应注意的问题,对其应用前景提出了新的思路。