The current study sought to assess the mediating role of green market orientation dimensions in the relationship between social risk and new product performance among European Multinational Enterprises (EMNEs). We also assessed the moderating role of entrepreneurial orientation in the relationship between green market orientation and new product performance. The study was based on primary data gathered from 317 EMNEs in Ghana. After various validity and reliability checks, ordinary least squares (OLS) analysis was performed to estimate the various relationships (...) hypothesized in the study. The study finds that social risk has a negative effect on the success of EMNEs' new products. This negative effect is however nullified by the positive mediating effects of strategic green market orientation, tactical green market orientation and internal green market orientation. Entrepreneurial orientation also played a significant moderating effect in the relationship between green market orientation dimensions and EMNEs' new product performance. Based on this, theoretical and managerial contributions were made. (shrink)

The South-to-North Water Diversion Project consists of long-distance water delivery channels and a complicated geological environment along the way. To deal with the operation safety of the water conveyance channels in the middle route of the South-to-North Water Diversion Project, this study analyzes six failure modes: structural cracks, poor water delivery during ice periods, instability of canal slopes, material aging, abnormal leakage, and foundation defects. Based on FMEA, a multigranularity language evaluation method that can be converted into interval intuitionistic fuzzy (...) numbers is used to evaluate the severity, occurrence, and detection difficulty of the six failure modes. Interval intuitionistic fuzzy entropy is used to calculate the weights of the risk factors. Finally, a ranking model of each failure mode is built based on the TODIM method. The final ranking results show that the risk of abnormal leakage is the largest, and the risk of poor water delivery during ice periods is the smallest. The feasibility and validity of the calculation results are verified by comparing them with the ranking results of the traditional RPN and TOPSIS methods. The TODIM-FMEA risk assessment model offers a new solution to the problem of risk assessment for water transfer projects. (shrink)

Seeking parallels among disciplines can have both risks and benefits. Finding parallels may be a vacuous exercise in categorization, generating no new insights. And pointing to analogous functions may cause us to treat them as homologous. Hull et al. have provided a basis for the generation of insights in different selectionist areas, without confusing analogy with homology.

Recent attempts to develop and apply digital ethics principles to address the challenges of the digital transformation leave organisations with an operationalisation gap. To successfully implement such guidance, they must find ways to translate high-level ethics frameworks into practical methods and tools that match their specific workflows and needs. Here, we describe the development of a standardised risk assessment tool, the Principle-at-Risk Analysis (PaRA), as a means to close this operationalisation gap for a key level of the ethics (...) infrastructure at many organisations – the work of an interdisciplinary ethics panel. The PaRA tool serves to guide and harmonise the work of the Digital Ethics Advisory Panel at the multinational science and technology company Merck KGaA in alignment with the principles outlined in the company’s Code of Digital Ethics. We examine how such a tool can be used as part of a multifaceted approach to operationalise high-level principles at an organisational level and provide general requirements for its implementation. We showcase its application in an example case dealing with the comprehensibility of consent forms in a data-sharing context at Syntropy, a collaborative technology platform for clinical research. (shrink)

This book by one of America's preeminent legal theorists is concerned with the conflict between the goals of justice and economic efficiency in the allocation of risk, especially risk pertaining to safety. The author approaches his subject from the premise that the market is central to liberal political, moral, and legal theory. In the first part of the book, he rejects traditional "rational choice" liberalism in favor of the view that the market operates as a rational way of (...) fostering stable relationships and institutions within communities of individuals with broadly divergent conceptions of the good. However, markets are needed most where they are most difficult to create and sustain, and one way to understand contract law in liberal legal theory, according to Professor Coleman, is as an institution designed to reduce uncertainty and thereby make markets possible. Another target of this book is the prevalent view that tort law helps rectify market failures when transaction costs are too high to permit contracting. The author argues instead that tort law should be understood as a way of rectifying wrongful losses not inefficient exchanges. (shrink)

Risk management is a well-known method to face technological challenges through a win–win combination of protective and proactive approaches, fostering the collaboration of operators, researchers, regulators, and industries for the exploitation of new markets. In the field of autonomous and unmanned aerial systems, or UAS, a considerable amount of work has been devoted to risk analysis, the generation of ground risk maps, and ground risk assessment by estimating the fatality rate. The paper aims to expand this (...) approach with a tool for managing data protection risks raised by drones through the design of flight maps. The tool should allow UAS operators choosing the best air corridor for their drones based on the so-called privacy by design principle pursuant to Article 25 of the EU data protection regulation, the GDPR. Among the manifold applications of this approach, the design of fly zones for drones can be tailored for public authorities in the phase of authorization of new operations, much as for national Data Protection authorities that have to control the lawfulness of personal data processing by UAS operations. The overall aim is to present the first win–win approach to data protection issues, aerospace engineering challenges, and risk management methods for the threats posed by this technology. (shrink)

Risk management is a well-known method to face technological challenges through a win–win combination of protective and proactive approaches, fostering the collaboration of operators, researchers, regulators, and industries for the exploitation of new markets. In the field of autonomous and unmanned aerial systems, or UAS, a considerable amount of work has been devoted to risk analysis, the generation of ground risk maps, and ground risk assessment by estimating the fatality rate. The paper aims to expand this (...) approach with a tool for managing data protection risks raised by drones through the design of flight maps. The tool should allow UAS operators choosing the best air corridor for their drones based on the so-called privacy by design principle pursuant to Article 25 of the EU data protection regulation, the GDPR. Among the manifold applications of this approach, the design of fly zones for drones can be tailored for public authorities in the phase of authorization of new operations, much as for national Data Protection authorities that have to control the lawfulness of personal data processing by UAS operations. The overall aim is to present the first win–win approach to data protection issues, aerospace engineering challenges, and risk management methods for the threats posed by this technology. (shrink)

Risk management is a well-known method to face technological challenges through a win–win combination of protective and proactive approaches, fostering the collaboration of operators, researchers, regulators, and industries for the exploitation of new markets. In the field of autonomous and unmanned aerial systems, or UAS, a considerable amount of work has been devoted to risk analysis, the generation of ground risk maps, and ground risk assessment by estimating the fatality rate. The paper aims to expand this (...) approach with a tool for managing data protection risks raised by drones through the design of flight maps. The tool should allow UAS operators choosing the best air corridor for their drones based on the so-called privacy by design principle pursuant to Article 25 of the EU data protection regulation, the GDPR. Among the manifold applications of this approach, the design of fly zones for drones can be tailored for public authorities in the phase of authorization of new operations, much as for national Data Protection authorities that have to control the lawfulness of personal data processing by UAS operations. The overall aim is to present the first win–win approach to data protection issues, aerospace engineering challenges, and risk management methods for the threats posed by this technology. (shrink)

Purpose: The research explored empirical evidence to assess the impact of cyber security and supply chain risk on digital operations in the UAE pharmaceutical industry. Methodology/Design/Approach: Based on responses from 243 personnel working at 14 pharmaceutical manufacturing companies in Dubai, data were examined for normality, instrument validity and regression analysis. Cyber security and SC risk on digital operations were explored by applying convenient sampling and descriptive and analytical research design. Findings: The findings validated the significant positive association between (...) cyber security and supply chain risk with digital operations. Research implications and Limitations: The research model was developed with three variables evaluated only on the pharmaceutical industry in Dubai. Future research should focus on multiple manufacturing industries by covering a larger geographic area. Practical implications: When suppliers are highly concentrated, customer-focused organisations with uncertain levels of digital transformation could improve their ability to manage supply chain risk by diversifying their clients. Pharmaceutical firms may require a greater focus on technology-based manufacturing firms to build and maintain customer trust. Originality Value: To illustrate how the pharmaceutical industry has explored the relationship between cyber security, supply chain risk and digital operations, the research highlights the significant and convoluted consequences of the relationship model that have not been previously considered. (shrink)

The authors are working with a limited notion of religion. They have confined themselves to a view of it as superstition, “counterintuitive,” as they put it. What they have not seen is that faith does in a real sense involve a paradox in that it projects an impossibility as a methodological device, a fictive ploy, which in the best interpretation necessarily involves a commitment to the likelihood of self-sacrifice.

Complex systems are difficult to manage, operate and maintain. This is why we see teams of highly specialised engineers in industries such as aerospace, nuclear and subsurface. Condition based monitoring is also employed to maximise the efficiency of extensive maintenance programmes instead of using periodic maintenance. A level of automation is often required in such complex engineering platforms in order to effectively and safely manage them. Advances in Artificial Intelligence related technologies have offered greater levels of automation but this potentially (...) pivots the weight of decision making away from the operator to the machine. Implementing AI or complex algorithms into a platform can mean that the Operators’ control over the system is diminished or removed altogether. For example, in the Boeing 737 Air Max Disaster, AI had been added to a platform and removed the operators’ control of the system. This meant that the operator could not then move outside the extremely reserved, algorithm defined, “envelope” of operation. This paper analyses the challenges of AI driven condition based monitoring where there is a potential to see similar consequences to those seen in control engineering. As the future of society becomes more about algorithm driven technology, it is prudent to ask, not only whether we should implement AI into complex systems, but how this can be achieved ethically and safely in order to reduce risk to life. (shrink)

We argue that two long-term goals of AI research stand in tension with one another. The first involves creating AI that is safe, where this is understood as solving the problem of value alignment. The second involves creating artificial general intelligence, meaning AI that operates at or beyond human capacity across all or many intellectual domains. Our argument focuses on the human capacity to make what we call “existential choices”, choices that transform who we are as persons, including transforming what (...) we most deeply value or desire. It is a capacity for a kind of value misalignment, in that the values held prior to making such choices can be significantly different from (misaligned with) the values held after making them. Because of the connection to existentialist philosophers who highlight these choices, we call the resulting form of risk “existentialist risk.” It is, roughly, the risk that results from AI taking an active role in authoring its own values rather than passively going along with the values given to it. On our view, human-like intelligence requires a human-like capacity for value misalignment, which is in tension with the possibility of guaranteeing value alignment between AI and humans. (shrink)

Complex platforms are very difficult to manage and maintain. This iswhy we see teams of engineers, many highly specialised, that carry outthis role for industries such as aerospace, nuclear and subsurface. It is acritical undertaking to maintain the aforementioned systems, which oftenhave components at varying degrees of degradation. To maintain com-plex systems, Condition Based Monitoring (CBM) (a type of predictivemaintenance that uses sensors to measure the status of an asset over timewhile it is in operation) is most frequently used. Artificial (...) Intelligence(AI) models that have been developed in the area of CBM are currentlynot well explained, nor well understood by users or operators. When AIis brought into a complex system we observe varying degrees of success.The level of success rests on the complexity of the system, the trainingand understanding of the end operator as well as the maintenance pro-cesses around the system. Implementing AI or complex algorithms into aplatform can mean that the Operators control over the system is dimin-ished or removed altogether. For example, in the Boeing 737 Air MaxDisaster, AI had been added to a platform and removed the operators’control of the system. This meant that the operator could not then moveoutside the extremely reserved, algorithm defined, ‘envelope’ of opera-tion, leading to loss of life. Therefore, the implementation of AI leading toany removal of operator system management in complex systems, espe-cially related to aerospace and subsurface industries, has to be consideredcarefully. In this paper we analyse the risks of removing operator systemcontrol and implementing algorithms, or AI, in complex systems. (shrink)

This research examines how the meaning of risk, safety, and accidents are constructed in a military context. We compare meanings of these constructs among members working for three organizations (Health and Safety Executive, Ministry of Defence, and Royal Marine Commandos) jointly responsible for planning and executing "safe" military training and maneuvres in a particular unit of the United Kingdom's Royal Marine Commandos. The discourse among these members embodies the inter-organizational collaboration over military safety, and through an analysis of this (...) discourse we situate and frame shared and contested meanings of risk, safety, and accidents within this particular community of practice. We discuss implications of these findings for theory and practice, rallying for a more contextualized understanding of what risk, safety, and accidents mean in organizational life and thus the relative nature of the standards to which organizations are expected to adhere. (shrink)

Seeking parallels among disciplines can have both risks and benefits. Finding parallels may be a vacuous exercise in categorization, generating no new insights. And pointing to analogous functions may cause us to treat them as homologous. Hull et al. have provided a basis for the generation of insights in different selectionist areas, without confusing analogy with homology.

Research risks have to meet minimal risk requirements in order for the research to qualify for expedited ethics review, to be exempted from ethics review, or to be granted consent waivers. The definition of “minimal risk” in the Common Rule (45 CFR 46) relies on the risks-of-daily-life and risks-of-routine-tests as comparators against which research activities are assessed to meet minimal risk requirements. While either or both comparators have been adopted by major ethics codes, they have also been (...) criticized. In response to criticisms, elaborations, and alternative comparators have been proposed. In this paper, I approach the search for workable comparators from the point of view that ethical reasoning about minimal risk involves analogical reasoning using comparators. In this regard, I develop two necessary conditions for an adequate minimal risk conception, which I use to assess three comparators. I conclude that the risks-of-routine-tests best fits the analogical reasoning operating in minimal risk assessments. (shrink)

Risk management has become a vital topic both in academia and practice during the past several decades. Most business intelligence tools have been used to enhance risk management, and the risk management tools have benefited from business intelligence approaches. This introductory article provides a review of the state-of-the-art research in business intelligence in risk management, and of the work that has been actepted for publication in this issue.

Rapid technological change is resulting in the development of ever increasingly capable autonomous weapon systems. As they become more sophisticated, the calls for developing restrictions on their use, up to and including their complete prohibition, are growing. Not unlike the call for restrictions on the sale and use of drones, most proposed restrictions are well-intentioned but are often ill-informed, with a high likelihood of degrading national security and putting additional lives at risk. Employed by experienced operators well-versed in the (...) laws of armed conflict, autonomous weapons can advance the objectives of those who would prohibit their use. This essay takes an operational perspective to examine the role that autonomous weapon systems can play while complying with the laws of armed conflict. With responsible design and incorporation of applicable control measures, autonomous weapons will be able not just to comply but also to enhance the ethical use of force. This essay contends that efforts by the international community to use international legal means and/or institutions to over-regulate or even ban lethal autonomous weapons are counterproductive. It considers and describes the end-game results of the use of autonomous weapons in enhancing the application of both international law and human ethical values. (shrink)

Powerful, technically complex international compliance regimes have developed recently in certain professions that deal with risk: banking (the Basel II regime), accountancy (IFRS) and the actuarial profession. The need to deal with major risks has acted as a strong driver of international co-operation to create enforceable international semilegal systems, as happened earlier in such fields as international health regulations. This regulation in technical fields contrasts with the failure of an international general-purpose political and legal regime to develop. We survey (...) the new global regulatory systems in the actuarial, banking and accounting fields, with a view to showing how the need to deal reasonably with risk has resulted in an international de facto law solidly based on correct abstract principles of probability. (shrink)

Over the past decade, interest in human enhancement has waxed and waned. The initial surge of interest and funding, driven by the US Army’s desire for a ‘Future Force Warrior’ has partly given way to the challenges of meeting operational demands abroad. However the ethical opportunities provided by soldier enhancement demand that investigation of its possibilities continue. Benefits include enhanced decision-making, improved force capability, reduced force size and lower casualty rates. These benefits — and enhancement itself — carry concomitant (...) risks, including morale issues due to tension between enhanced and unenhanced soldiers, the issues of enhanced veterans and ownership of enhanced bodies, challenges to the army’s core values and personal identity issues. A range of measures should be designed to highlight the opportunities offered by enhancement while also minimising the potential risks. This includes providing advice on which areas the army ought to demonstrate restraint in research for ethical reasons. (shrink)

Before participants can be enrolled in a clinical trial, an institutional review board must determine that the risks that the research poses to participants are ‘reasonable.’ This paper examines the two dominant frameworks for assessing research risks and argues that each approach suffers from significant shortcomings. It then considers what issues must be addressed in order to construct a framework for risk assessment that is grounded in a compelling normative foundation and might provide more operationally precise guidance to the (...) deliberations of various stakeholders. The paper concludes by sketching the outlines of what is referred to as the ‘Integrative Approach’ to risk assessment and by highlighting some of the ways in which this approach may be more promising than current alternatives. (shrink)

AbstractDuring the Covid-19 pandemic, ethicists and researchers proposed human challenge studies as a way to speed development of a vaccine that could prevent disease and end the global public health crisis. The risks to healthy volunteers of being deliberately infected with a deadly and novel pathogen were not low, but the benefits could have been immense. This essay is a history of the three major efforts to set up a challenge model and run challenge studies in 2020 and 2021. The (...) pharmaceutical company Johnson and Johnson, the National Institutes of Health in the United States, and a private-public partnership of industry, university, and government partners in Britain all undertook preparations. The United Kingdom’s consortium began their Human Challenge Programme in March of 2021.Beyond documenting each effort, the essay puts these scientific and ethical debates in dialogue with the social, epidemiological, and institutional conditions of the pandemic as well as the commercial, intellectual, and political systems in which medical research and Covid-19 challenge studies operated. It shows how different institutions understood risk, benefit, and social value depending on their specific contexts. Ultimately the example of Covid-19 challenge studies highlights the constructedness of such assessments and reveals the utility of deconstructing them retrospectively so as to better understand the interplay of medical research and research ethics with larger social systems and historical contexts. (shrink)

Since the beginning of UN peace operations, there has been discussion as to exactly how they should be carried out. Thus far, a just theory of UN peacekeeping operations has not yet been formed, in the way a Theory of Just War for waging war or a theory of police ethics for law enforcement in a peace context had been formed. The article discusses what a justified risk distribution between UN peacekeepers and local civilians should be. One of the (...) points of criticism of UN peacekeeping missions is the lack of protection of the local population in the course of an escalating situation. Familiar examples are the traumas of Rwanda (1994) and Srebrenica (1995). Discussing differences between UN peacekeeping missions, warfare, and law enforcement, it appears that peacekeepers have more in common with law enforcers than with combatants during wartime. Through the method of analogy and by applying some typically military ethics principles, the moral status of the UN peacekeepers is analyzed. Finally, a risk distribution analysis between UN peacekeepers and the local population is carried out, by offering a concise overview by philosophers of arguments for and against taking fewer risks by peacekeepers. The analysis reveals important deontological and consequentialist arguments. Taking also into consideration that transferring more risk to the peacekeeping troops alone does not mandatory lead to less exposure to risk of the vulnerable and innocent local civilians, it can be concluded that a more practical, virtuous, responsible risk calculation will be necessary at that point to find the best risk distribution. (shrink)

We consider a situation where an individual is facing an uncertain situation, but may costly alter his knowledge of the uncertainties. We study in this context how risk aversion may modify the individual search behavior. We consider a one-armed bandit problem (where one arm is safe and the other is risky) and study how the agent risk aversion can change the sequence of arms selected. The main result is that when the utility function is more concave, the agent (...) has more chances to select the safe arm. We also discuss how search is affected by risk aversion. (shrink)

Technologies lower constraints and expand affordances. As a consequence, they tend to redesign the corresponding space of risks in which agents operate and interact. This paper analyses the concept of metatechnological risk from an ethical perspective, arguing that such an approach is necessary in order to mitigate future global energy crises.

In this paper I present my reflections on the ethics of science as described by Merton and as actually practiced by scientists and technologists. This ethics was the subject of Kuipers' paper "'Default norms' in Research Ethics" (Kuipers 2001). There is an implicit assumption in this ethics, notably in Merton's norm of communism, that knowledge is always, or unconditionally good, and hence that scientific research, and the dissemination of its results, is unconditionally good. I will give here reasons why scientists (...) are not permitted to proceed, as they actually do, on the basis of this assumption. There is no factual or other binding justification for this assumption, and the activities it gives rise to frequently conflict with the broadly accepted ethical principle of restricted liberty. A recent discussion on the risks and hazards of science and on the issue of relinquishment is presented. What is shown in this paper is that the scientists and technologists participating in this discussion frequently violate core values of science relating to logical and empirical scrutiny and systematic criticism, as mentioned in Merton's norms of universalism, organized skepticism, and disinterestedness. It is concluded that, in order to live up to these values and in order to operate in agreement with broader ethical principles, science should stimulate open and critical discussion on the hazards and negative effects of science and technology, and on the present failure on the part of law and politics to control those hazards and negative effects. Science should also take the possibility of relinquishing certain themes of research seriously as long as such flaws in the systems of law and political decision-making persist. (shrink)

In this paper, we investigate the constitutive problems and other several aspects of what a research entitled 'formal epistemology' should be. The interest in this subject has to do with the possibility of reaching a privileged point of view or axis of research - i.e., the 'formal' one - that would allow, a better grasp of the richness and variety of the facts and problems tackled by precise (local) epistemology of theories (for example, in physics). This approach is likely to (...) enable one to hold the main structural lines that organize those theories according to a more com prehensive, unifying and synthetic intelligibilit. By the same token, it would eventually allow a better handling of the changes required in the organization of knowledge, putting emphasis on its main directions, drawing up a rational inventory of this knowledge, and perhaps anticipating others. At first, we deal with the `thought of changes' that no approach of the 'form' can afford to leave aside, since the meaning of this concept is inseparable from the contents that come with constructions and modifications. We examine then the notion of 'epistemic operation' as an instrument to create new forms on the theoretical as well as on the meta-theoretical levels. ln the wake of it, we analyze the characteristics of the form and of the formal, as well as their relationship with the contents of knowledge. We also take the notion of object into account, since it depends upon the decision of a subject and upon conventional choices. We finally inquire about the link between `epistemic operations' as specified above and algorithmic functions for knowledge statements, and emphasize the risk of reductionism that might follow from a naturalistic conception of representation. (shrink)

Downside risk aversion (downside RA) and decreasing absolute risk aversion (DARA) are different concepts that describe preferences for which the harm from bearing risk is lessened by an increase in wealth. This note presents some intuitive explanations of the difference between the two concepts using simple lotteries and graphical analysis. All risk-averse utility functions exhibit downside risk aversion, except those that exhibit sufficiently strong increasing absolute risk aversion. In a sense, downside RA is to (...) be expected: adding downside risk to a baseline lottery is analogous to increasing risk while adding upside risk is analogous to decreasing risk. The difference between the two concepts can be attributed to the use of different measures of the harm from risk bearing: downside RA measures harm using the utility premium and DARA measures harm using the risk premium. The two premia can change at different rates and even in different directions as wealth increases. (shrink)

We ponder about the kind of problems and perspectives of a “formalized epistemology”, by considering the advantages than one can get from a concern with the “formal”, with its structural orientation, that would favour comprehensive, unifying and synthetic, intelligibility. We confront this perspective with that of the changes in knowledge, considering the relation between form and meaning for knowledge contents, and examine the notion of “epistemic operation” as instrumental for creating new forms, at the theoretical and meta-theoretical levels. Actually, the (...) notions of form, of formal and of object are not independent of the problem of a subject that decides on conventions and choices. “Epistemic operations” might suggest a link with “algorithmic functions” for knowledge statements, that themselves entail the risk of reductionism in a naturalistic conception of representation. (shrink)

Building on conceptual insights from the history and sociology of numbers, media and surveillance studies, and theories of governance and risk, this article analyzes the forms of transparency produced by the use of numbers in social life. It examines what it is about numbers that often makes their ‘truth claims’ so powerful, investigates the role that numerical operations play in the production of retrospective, real-time and anticipatory forms of transparency in contemporary politics and economic transactions, and discusses some of (...) the implications resulting from the increasingly abstract and machine-driven use of numbers. It argues that the forms of transparency generated by machine-driven numerical operations open up for individual and collective practices in ways that are intimately linked to precautionary and pre-emptive aspirations and interventions characteristic of contemporary governance. As such, these numerical operations raise important political and ethical questions that deserve further conceptual and empirical scrutiny. (shrink)

The One Health approach to antimicrobial resistance (AMR) requires stakeholders to contribute to cross-sectoral efforts to improve antimicrobial stewardship (AMS). One Health AMR policy implementation is challenging in livestock farming because of the infrastructural role of antibiotics in production systems. Mitigating AMR may require the development of more stringent stewardship obligations and the future limitation of established entitlements. Drawing on Amatai Etzioni’s compliance theory, regulatory analyses and qualitative studies with stakeholder groups we examine the structural and socio-cultural dimension of antibiotic (...) use and AMS compliance in Australian beef and dairy production. We found a disconnect between how antibiotic use is conceptualised by farmers and the way in which AMS policies construe agricultural AMR risks. Under the umbrella of food safety standards and national-level prescribing restrictions, farmers and veterinarians interact around antibiotic use with different operating logics and compliance mechanisms. These parallel regimes service distinct and sometimes competing common goods of food security and antibiotic preservation. Further reforms to mitigate AMR need to account for the value orientations of different groups and the embeddedness of the constraints imposed by existing systems. Advocacy for greater AMR precaution in agriculture should acknowledge and compensate for erosions in competing common goods and the cost of proposed interventions. (shrink)

The large-scale proliferation of China’s new type of agricultural entities has given rise to a higher demand for funds. Farmers have insufficient effective collateral, which makes it difficult for them to obtain sufficient loans. Chinese financial institutions have developed a biological asset mortgage loan business to cope with this situation. China has not considered biological mortgages but has been using real estate and asset mortgage models with strong realizability. This innovative financial business has achieved positive results since it was attempted, (...) but it also faces many risks. It is very important to comprehensively and accurately consider the risk factors of biological asset mortgage loans. Based on 1249 production and operation data samples of new agricultural entities in Zhejiang, Henan, and Shandong provinces, this study constructs an XGBoost model for empirical analysis and compares it with logical regression, support vector machine, and random forest algorithms to obtain the optimal model and feature importance value. According to the characteristic importance value, a biological asset mortgage loan risk assessment system with 4 primary indicators and 20 secondary indicators is established, which can effectively identify the biological asset mortgage loan risk of new agricultural entities. (shrink)

Discounting is a manifestation of behavioral impulsivity, which is closely related to self-regulation processes. The decision-making process for intertemporal choices is governed by the inhibition of impulses, which can influence both risk and time-related attitudes. This paper utilizes self-reported measures of risk, impatience, and impulsivity attitudes to examine their impact on the implicit discount rate used when weighing the current purchase cost against future energy savings of appliances. It analyzes and tests the interplay between these attitudes using specific (...) functional forms and causal models. The results highlight the role of risk, impatience and impulsivity on the discount rate and the biases that arise from omitting impulsive attitudes. In addition, other factors such as environmental and social preferences, attitudes, and financial constraints contribute to the implicit discount rate. (shrink)

Like all research, embryo research can take a variety of forms, some posing substantially more risks to persons than others. Savulescu et al argue persuasively that regulatory regimes specially designed for sensitive embryo research should differentiate between person-affecting and non-person-affecting embryo research, with substantial scrutiny only warranted for the former.1 Yet if we find Savulescu et al ’s argument persuasive, what practical implications would it have? In this commentary, we focus in particular on how such an argument might apply in (...) Singapore, one of the jurisdictions with special regulations for embryo research. We will summarise the way in which approval for oocyte and embryonic research operates in Singapore, and suggest that Savulesc et al ’s distinction requires specification to be useful in such contexts. We propose adopting a risk-stratified framework similar to that employed with Institutional Review Boards. This requires a wider view of risks than the focus by Savulescu et al on future persons. We then illustrate how such a framework would apply in five scenarios discussed in Savulescu et al. Research with embryos and oocytes is regulated in Singapore under the Human Biomedical Research Act.2 Enacted in 2015, this law sets out requirements for consent, IRB review and research oversight. By definition, all research involving gametes and embryos fall within the remit of the Act. Moreover, such research is defined as ‘restricted’; besides the Act, research involving oocytes and embryos is also subject to control under the Human Biomedical Research …. (shrink)

In the paper we consider an electricity provider company that makes decision on allocating resources on electric network maintenance. The investments decrease malfunction rate of network nodes. An accidental event or a malfunctioning on underground system can have various consequences and in different perspectives, such as deaths and injuries of pedestrians, fires in nearby locations, disturbances in the flow of vehicular traffic, loss to the company image, operating and financial losses, etc. For this reason it is necessary to apply an (...) approach of the risk management that considers the multidimensional view of the consequences. Furthermore an analysis of decision making should consider network dependencies between the nodes of the electricity distribution system. In the paper we propose the use of the simulation to assess the network effects in the multidimensional risk assessment in electricity grid. The analyzed effects include node overloading due to malfunction of adjacent nodes and blackouts that take place where there is temporarily no path in the grid between the power plant and a node. The simulation results show that network effects have crucial role for decisions in the network maintenance – outcomes of decisions to repair a particular node in the network can have significant influence on performance of other nodes. However, those dependencies are non-linear. The effects of network connectivity on its multidimensional performance assessment depend heavily on the overloading effect level. The simulation results do not depend on network type structure – however simulation outcomes for random networks have shown higher variance compared to small-world networks. (shrink)

Four hundred seventy-six nuclear power plants are in operation or under construction around the world. Are concepts for designing and operating plants safely sufficient? Conventional approaches are premised on expectations of predictability and control of radiation release and on assumptions that plant operations are closed systems. Field observations in the industry find, however, that the periodic necessity to refuel, test safety equipment, and continuously upgrade plant designs introduces challenges to control not originally calculated. The social and cultural contexts of markets, (...) regulation, and work systems create additional contingencies. In this dynamic environment, reactor operations produce invaluable data about the states of the entire technology and organizational system. Rereading these dynamics as "experiments" suggests an alternative epistemol ogy that synthesizes science's values of doubt, discovery, and documentation with engineering's values of efficiency, optimization, and problem solving. This redefines plant-based risk handlers as ethologists, geologists, and anthropologists of an ecology of visible and invisible hazards. (shrink)

With the increase in depth of coal mining, the hydrogeological complexity largely increases and water inrush accidents happen more frequently. For the safety of coal mining, horizontal directional drilling and grouting techniques have been implemented to detect and plug the fractures and conduits that deliver high-pressure groundwater to coal mine. Taking the grouting engineering performed at Xingdong coal mine at 980 m below sea level as an example, we collected the data of grouting quantity, the loss of drilling fluid, gamma (...) value, water temperature, average water absorption, distance between grouting loss points, water pressure on coal seam floor, and aquifuge thickness at 90 boreholes in the mine to conduct grey relational analysis, first. The analysis showed that the grouting quantity was highly correlated with all other factors. Subsequently, grey system evaluation was used to evaluate the risk of water inrush from the coal seam floor. The results of risk analysis illustrated that three water inrushes from Ordovician limestone occurred in mining face 2127, 2125, and 2222 in the study area were all located in the area with a risk score higher than 65. Through grouting, the identified cracks were effectively blocked and waterproof layers beneath the coal seam floors were constructed to reduce the threat of water inrush. By comparing the risk assessment results with three water inrush cases before grouting operation, we found that water inrush areas were consistent with the area of higher risk. (shrink)

Virtual enterprise is a dynamic alliance of businesses, in which multiple members undertake joint research, development, manufacturing, operation, etc. The complexity of the relationship between business members, coupled with many new technologies or methods applied in the alliance operation, leads to more uncertain factors and difficulties in the operation and risk management of the virtual enterprise. The distributed decision-making model is a fast and effective decision-making model, in which dispersed intellectual resources and information resources are dynamically integrated through virtual (...) organization forms and operating mechanisms, and the dynamic reorganization, result evaluation, and synthesis of the decision-making system are realized by certain control rules. On the basis of summarizing and analyzing previous research works, this paper expounded the research status and significance of the risk control of virtual enterprise; elaborated the development background, current status, and future challenges of distributed decision-making model; introduced the related works of decision-making variable calculation and constraint determination; constructed a risk control model for virtual enterprise based on distributed decision-making model; analyzed the multiobjective model and interval programming model of risk control; established a risk control approach for virtual enterprise based on distributed decision-making model; performed the optimal allocation of risk control funds and the selective optimization of backup allies; and finally conducted a case analysis. The study results show that, in view of the diversity of relationships between alliance businesses and the complexity of the distribution of cooperative areas, the distributed decision-making model can more reasonably describe the relationship between alliance members and accurately control the risks of virtual enterprise from multiple angles, which can effectively manage the risks of virtual enterprise. The study results of this paper provide a reference for further research on the risk control of virtual enterprise based on distributed decision-making model. (shrink)

Critical analyses of international financial markets tend to explain changes over recent decades in terms of a resurgent liberalism. This paper employs a systems theoretical approach to argue that there has been a far more fundamental transformation in the operations of these financial markets than simply a shift towards more liberalized regimes of regulation. The use of risk as resource and the systematic randomness of these new operational trends have perverse implications not only for the integrity of political (...) systems but also for the neoliberal promoters and players inside the new complex system of global finance. (shrink)

Game-theoretic solution concepts such as Nash and Bayesian equilibrium start from an assumption that the players’ sets of possible payoffs, measured in units of von Neumann–Morgenstern utility, are common knowledge, and they go on to define rational behavior in terms of equilibrium strategy profiles that are either pure or independently randomized and which, in applications, are often taken to be uniquely determined or at least tightly constrained. A mechanism through which to obtain a common knowledge of payoff functions measured in (...) units of utility is not part of the model. This paper describes an operational method of constructing a state of common knowledge of the key parameters of the players’ utility functions in terms of conditional small bets on the game’s outcome. When the rationality criterion of joint coherence is applied in this setting, the solution of a game is typically characterized by a convex set of correlated equilibria. In the most general case, where players are risk averse, the parameters of the equilibria are risk-neutral probabilities, interpretable as products of subjective probabilities and relative marginal utilities for money, as in financial markets. Risk aversion generally enlarges the set of equilibria and may present opportunities for Pareto-improving modifications of the rules of the game. (shrink)

We study the conditions under which increasing risk raises the optimal control variable when the budget constraint is nonlinear. In contrast to the case when the budget constraint is linear, nonlinearities alter the risk attitudes of the economic agent; that is, the agent’s risk behavior is driven by the interaction between the shape of the utility function and the shape of the budget constraint. This paper complements the classical literature with linear payoff functions in two important ways. (...) First, we derive necessary and sufficient conditions for unambiguous comparative statics of changes in risk when the budget constraint is nonlinear. Second, we highlight the critical role of the coefficients of technological improvement and cross-prudence in technology derived from the nonlinear budget constraint in a similar form to that in which the coefficient of relative risk aversion and the coefficient of relative prudence are derived from the utility function. We show several applications of this theory, including the worker’s decision to work in-person during a pandemic. (shrink)

The theoretical literature on vertical relationships usually assumes that beliefs about secret contracts take specific forms. In a recent paper, Eguia et al. (Games Econ Behav 109:465–483,2018) propose a new selection criterion that does not impose any restriction on beliefs. In this article, we extend their criterion by generalizing it to risk-averse retailers, and we show that risk aversion modifies the size of the belief subsets that support each equilibrium. We conduct an experiment which revisits that of Eguia (...) et al. (Games Econ Behav 109:465–483,2018). We design a new treatment effect on equilibrium selection depending on the retailers’ risk sensitivity. Experimental results confirm the treatment effect: the more sensitivity there is towards risk, the more the equilibrium played is consistent with passive beliefs. In addition, extending Eguia et al.’s (Games Econ Behav 109:465–483,2018) criterion to risk-averse retailers improves its predictive power on the equilibria played, especially for a population of retailers with moderate to extreme risk aversion. (shrink)

A key focus for agri-food scholars today pertains to emerging “alternative food movements,” particularly their long-term viability, and their potential to induce transitions in our prevailing conventional global agri-food systems. One under-studied element in recent research on sustainability transitions more broadly is the role of disruptive events in the emergence or expansion of these movements. We present the findings of a case study of the effect of a sudden acute food safety crisis—bovine spongiform encephalopathy, or mad cow disease—on alternative beef (...) production in the Province of Alberta, Canada. Employing the conceptual lens of Sustainability Transition Theory, we explore the perspectives of conventional and alternative beef producers, treating alternative beef production as a niche operating within the dominant regime of global industrial agri-business. Three key findings are presented here. First, food safety risks and disruptive events can emerge as a direct consequence of the socio-ecological contradictions embedded in industrial agriculture, representing an opportunity for expansion of agricultural niches. Second, certain features of socio-economic regimes can also contribute to niche emergence, such as an economic system that disenfranchises beef-producing families. Finally, our study highlights the high level of diversity among niche agents and the complex and nuanced nature of their support for the niche. (shrink)

Under conditions of growing interconnectedness of the global economy, more and more stakeholders are exposed to risks and costs resulting from business activities that are neither regulated nor compensated for by means of national governance. The changing distribution of risks poses a threat to the legitimacy of business firms that normally derive their legitimacy from operating in compliance with the legal rules of democratic nation states. However, during the process of globalization, the regulatory power of nation states has been weakened (...) and many production processes have been shifted to states with weak regulatory frameworks where businesses operate outside the reach of the democratic nation state. As a result, business firms have to address the various legitimacy challenges of their operations directly and cannot rely upon the legitimacy of their regulatory environment. These developments challenge the dominant approach to corporate governance that regards shareholders as the only stakeholder group in need of special protection due to risks not covered by contracts and legal regulations. On the basis of these considerations, we argue for a democratization of corporate governance structures in order to compensate for the governance deficits in their regulatory environment and to cope with the changing allocation of risks and costs. By way of democratic involvement of various stakeholders, business firms may be able to mitigate the redistribution of individual risk and address the resulting legitimacy deficits even when operating under conditions of regulatory gaps and governance failure. (shrink)

Philosophy & Social Criticism, Volume 48, Issue 4, Page 642-651, May 2022. Academic freedom in China is unquestionably under threat from various quarters. Yet the assumption that only the logics of authoritarian Communist Party power shape the terrain in which scholars operate provides us with a limited perspective on these threats. The Chinese academy has become deeply entangled with transnational forces, and is increasingly driven by similar business logics to those in play in universities around the world. We argue that (...) these forces too contribute to the context for the exercise of academic freedom and its restriction. As is the case elsewhere, discourses around developing the national ‘knowledge economy’ and related logics of securitisation around knowledge production create conditions in which some forms of academic research are prioritised over others. Echoing the ‘culture wars’ plaguing the academy in many other countries, the research agendas most under threat in China are ones that connect to transnational movements and struggles, especially those focussed on labour and class, gender and feminism, race and ethnicity and human rights. In this article, we outline what we see as the key forces shaping the landscape for academic freedom in China, with a concentration on areas of research and teaching in the social sciences and humanities that are most at risk in the current conjuncture. (shrink)

Philosophy & Social Criticism, Volume 48, Issue 4, Page 642-651, May 2022. Academic freedom in China is unquestionably under threat from various quarters. Yet the assumption that only the logics of authoritarian Communist Party power shape the terrain in which scholars operate provides us with a limited perspective on these threats. The Chinese academy has become deeply entangled with transnational forces, and is increasingly driven by similar business logics to those in play in universities around the world. We argue that (...) these forces too contribute to the context for the exercise of academic freedom and its restriction. As is the case elsewhere, discourses around developing the national ‘knowledge economy’ and related logics of securitisation around knowledge production create conditions in which some forms of academic research are prioritised over others. Echoing the ‘culture wars’ plaguing the academy in many other countries, the research agendas most under threat in China are ones that connect to transnational movements and struggles, especially those focussed on labour and class, gender and feminism, race and ethnicity and human rights. In this article, we outline what we see as the key forces shaping the landscape for academic freedom in China, with a concentration on areas of research and teaching in the social sciences and humanities that are most at risk in the current conjuncture. (shrink)

Academic freedom in China is unquestionably under threat from various quarters. Yet the assumption that only the logics of authoritarian Communist Party power shape the terrain in which scholars operate provides us with a limited perspective on these threats. The Chinese academy has become deeply entangled with transnational forces, and is increasingly driven by similar business logics to those in play in universities around the world. We argue that these forces too contribute to the context for the exercise of academic (...) freedom and its restriction. As is the case elsewhere, discourses around developing the national ‘knowledge economy’ and related logics of securitisation around knowledge production create conditions in which some forms of academic research are prioritised over others. Echoing the ‘culture wars’ plaguing the academy in many other countries, the research agendas most under threat in China are ones that connect to transnational movements and struggles, especially those focussed on labour and class, gender and feminism, race and ethnicity and human rights. In this article, we outline what we see as the key forces shaping the landscape for academic freedom in China, with a concentration on areas of research and teaching in the social sciences and humanities that are most at risk in the current conjuncture. (shrink)