Dependence, Risk, and Vulnerability.
Abstract
The purpose of this paper is to articulate a framework for interrelating the concepts of dependence, risk, and vulnerability. To do this we first distinguish dependence (susceptibility to utility losses) from risk (the probability such losses will be inflicted). Then we relate these two concepts through the idea that vulnerability is the expected value of such potential utility losses. Among other things, this approach enables us to highlight those strategies that attempt to reduce vulnerability by lessening dependence and those which aim to reduce vulnerability by lowering the probability that such utility losses will be imposed. In the second section of this paper, we define dependence and distinguish between two fundamental subtypes -- 'positive' and 'negative.' The third section presents a viable general technique for measuring dependence. Section four considers the relations among dependence, risk, and vulnerability. Section five is concerned with strategies for reducing vulnerability. Concluding remarks follow in section 6. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 1981
- Accession Number
- ADA102698
Entities
People
- James Thomason
Organizations
- Center for Naval Analyses