Utility Functions for Equity and Public Risk
With many large-scale projects, such as power plants, some members of the public will necessarily incur a risk. Public fatalities may result from either normal operations (e.g., via pollution) or accidents. Often in such cases, a small group of the public incur the risks, whereas a different group of the public receives the benefits from the project. In these circumstances, a major issue concerns the equity or fairness afforded members of the public. This paper develops the concept of an equitable distribution of risk to address this issue. Utility functions are found which are consistent with various basic value attitudes involving risk equity.
Volume (Year): 26 (1980)
Issue (Month): 4 (April)
|Contact details of provider:|| Postal: 7240 Parkway Drive, Suite 300, Hanover, MD 21076 USA|
Web page: http://www.informs.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:26:y:1980:i:4:p:345-353. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mirko Janc)
If references are entirely missing, you can add them using this form.