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A relational theory of risk

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  • Åsa Boholm
  • Hervé Corvellec

Abstract

This paper outlines a relational theory of risk . According to this theory, risk emerges from situated cognition that establishes a relationship of risk between a risk object and an object at risk , so that the risk object is considered, under certain contingent circumstances and in some causal way, to threaten the valued object at risk. This relational theory of risk is a theory about the interpretative nature of risk that answers the key theoretical and practical questions of why and how something is considered a risk. The relational theory of risk allows for the interpretation of risk situations as culturally informed, and thereby suggests new ways to approach risk communication, risk governance, and risk management by taking into account bounded rationalities of thought and action.

Suggested Citation

  • Åsa Boholm & Hervé Corvellec, 2011. "A relational theory of risk," Journal of Risk Research, Taylor & Francis Journals, vol. 14(2), pages 175-190, February.
    • Handle: RePEc:taf:jriskr:v:14:y:2011:i:2:p:175-190
    DOI: 10.1080/13669877.2010.515313
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    Cited by:

    1. Christian Scheve & Markus Lange, 2023. "Risk entanglement and the social relationality of risk," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-10, December.
    2. Erika Machacek & Jessika Luth Richter & Ruth Lane, 2017. "Governance and Risk–Value Constructions in Closing Loops of Rare Earth Elements in Global Value Chains," Resources, MDPI, vol. 6(4), pages 1-25, October.
    3. José Manuel Palma‐Oliveira & Benjamin D. Trump & Matthew D. Wood & Igor Linkov, 2018. "Community‐Driven Hypothesis Testing: A Solution for the Tragedy of the Anticommons," Risk Analysis, John Wiley & Sons, vol. 38(3), pages 620-634, March.
    4. Philip Völlers & Thomas Neise & Philip Verfürth & Martin Franz & Felix Bücken & Kim Philip Schumacher, 2023. "Revisiting risk in the Global Production Network approach 2.0 - Towards a performative risk narrative perspective," Environment and Planning A, , vol. 55(8), pages 1838-1858, November.
    5. Waseem Ul Hameed & Muhammad Haseeb & Jawad Iqbal & Leonardus W. W. Mihardjo & Kittisak Jermsittiparsert, 2022. "Environmental disaster and women self‐sustainability—A survey study on microfinance female clientele in Pakistan," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3599-3622, July.
    6. Jamie K. Wardman & Gabe Mythen, 2016. "Risk communication: against the Gods or against all odds? Problems and prospects of accounting for Black Swans," Journal of Risk Research, Taylor & Francis Journals, vol. 19(10), pages 1220-1230, November.
    7. B Ding & M Stevenson & J.S. Busby, 2017. "The relationship between risk control imperative and perceived causation: the case of product counterfeiting in China," Journal of Risk Research, Taylor & Francis Journals, vol. 20(6), pages 800-826, June.
    8. Meredith Frances Dobbie & Rebekah Ruth Brown, 2014. "A Framework for Understanding Risk Perception, Explored from the Perspective of the Water Practitioner," Risk Analysis, John Wiley & Sons, vol. 34(2), pages 294-308, February.
    9. Max Boholm, 2019. "Risk and Quantification: A Linguistic Study," Risk Analysis, John Wiley & Sons, vol. 39(6), pages 1243-1261, June.
    10. Mollie Painter-Morland, 2011. "Rethinking Responsible Agency in Corporations: Perspectives from Deleuze and Guattari," Journal of Business Ethics, Springer, vol. 101(1), pages 83-95, March.
    11. Anna E. Wolnowska & Lech Kasyk, 2021. "Identification of Threats in the Supply Chain of a Production Process," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 568-587.
    12. Mouna Hazgui & Marion Brivot, 2022. "Debating Ethics or Risks? An Exploratory Study of Audit Partners’ Peer Consultations About Ethics," Journal of Business Ethics, Springer, vol. 175(4), pages 741-758, February.
    13. Max Boholm & Niklas Möller & Sven Ove Hansson, 2016. "The Concepts of Risk, Safety, and Security: Applications in Everyday Language," Risk Analysis, John Wiley & Sons, vol. 36(2), pages 320-338, February.
    14. Petra Tschakert & Jon Barnett & Neville Ellis & Carmen Lawrence & Nancy Tuana & Mark New & Carmen Elrick‐Barr & Ram Pandit & David Pannell, 2017. "Climate change and loss, as if people mattered: values, places, and experiences," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 8(5), September.
    15. Mar Pérezts & Jean-Philippe Bouilloud & Vincent Gaulejac, 2011. "Serving Two Masters: The Contradictory Organization as an Ethical Challenge for Managerial Responsibility," Journal of Business Ethics, Springer, vol. 101(1), pages 33-44, March.
    16. Fekete, Alexander & Fuchs, Sven & Garschagen, Matthias & Hutter, Gérard & Klepp, Silja & Lüder, Catharina & Neise, Thomas & Sett, Dominic & von Elverfeldt, Kirsten & Wannewitz, Mia, 2022. "Adjustment or transformation? Disaster risk intervention examples from Austria, Indonesia, Kiribati and South Africa," Land Use Policy, Elsevier, vol. 120(C).
    17. Dominic Balog‐Way & Katherine McComas & John Besley, 2020. "The Evolving Field of Risk Communication," Risk Analysis, John Wiley & Sons, vol. 40(S1), pages 2240-2262, November.
    18. Mar Pérezts & Sébastien Picard, 2015. "Compliance or Comfort Zone? The Work of Embedded Ethics in Performing Regulation," Journal of Business Ethics, Springer, vol. 131(4), pages 833-852, November.
    19. Max Boholm, 2012. "The Semantic Distinction Between “Risk” and “Danger”: A Linguistic Analysis," Risk Analysis, John Wiley & Sons, vol. 32(2), pages 281-293, February.

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