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Risk governance

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  • Marjolein B.A. van Asselt
  • Ortwin Renn

Abstract

The term 'governance' has been used in political science to describe the multitude of actors and processes that lead to collective binding decisions. The term 'risk governance' involves the translation of the substance and core principles of governance to the context of risk-related decision-making. Does it involve a major change on how risks are conceptualized, managed, and communicated, or it is just a new fashion? In this paper, we aim to delineate the genesis and analytical scope of risk governance. In our view, risk governance pertains to the various ways in which many actors, individuals, and institutions, public and private, deal with risks surrounded by uncertainty, complexity, and/or ambiguity. It emphasizes that not all risks are simple; they cannot be calculated as a function of probability and effect. It is more than a descriptive shorthand for a complex, interacting network in which collective binding decisions are taken around a particular set of societal issues. The ambition is that risk governance provides a conceptual as well as normative basis for how to deal responsibly with uncertain, complex, and/or ambiguous risks in particular. We propose to synthesize the body of scholarly ideas and proposals on the governance of systemic risks in a set of principles: the communication and inclusion principle, the integration principle, and the reflection principle. This set of principles should be read as a synthesis of what needs to be seriously considered in organizing structures and processes to govern risks.

Suggested Citation

  • Marjolein B.A. van Asselt & Ortwin Renn, 2011. "Risk governance," Journal of Risk Research, Taylor & Francis Journals, vol. 14(4), pages 431-449, April.
    • Handle: RePEc:taf:jriskr:v:14:y:2011:i:4:p:431-449
    DOI: 10.1080/13669877.2011.553730
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    References listed on IDEAS

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    1. De Bandt, Olivier & Hartmann, Philipp, 2000. "Systemic risk: A survey," Working Paper Series 35, European Central Bank.
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    2. Volker Stein & Arnd Wiedemann, 2016. "Risk governance: conceptualization, tasks, and research agenda," Journal of Business Economics, Springer, vol. 86(8), pages 813-836, November.
    3. Ivo Schedlinsky & Friedrich Sommer & Arnt Wöhrmann, 2016. "Risk-taking in tournaments: an experimental analysis," Journal of Business Economics, Springer, vol. 86(8), pages 837-866, November.
    4. Lin, Lexin & Nilsson, Anders & Sjölin, Johan & Abrahamsson, Marcus & Tehler, Henrik, 2015. "On the perceived usefulness of risk descriptions for decision-making in disaster risk management," Reliability Engineering and System Safety, Elsevier, vol. 142(C), pages 48-55.
    5. Anna Scolobig & Nadejda Komendantova & Anthony Patt & Charlotte Vinchon & Daniel Monfort-Climent & Mendy Begoubou-Valerius & Paolo Gasparini & Angela Ruocco, 2014. "Multi-risk governance for natural hazards in Naples and Guadeloupe," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 73(3), pages 1523-1545, September.
    6. Johansson, Jonas & Hassel, Henrik & Zio, Enrico, 2013. "Reliability and vulnerability analyses of critical infrastructures: Comparing two approaches in the context of power systems," Reliability Engineering and System Safety, Elsevier, vol. 120(C), pages 27-38.

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