TY - JOUR
T1 - Calculation of an adjusted Disproportion Factor (DF∗) which takes the societal acceptability of risks into account
AU - Achille, Jeremie
AU - Ponnet, K
AU - Reniers, Genserik
PY - 2016
Y1 - 2016
N2 - This paper develops an approach considering parameters related to the societal acceptance of industrial risks, to determine an adjusted Disproportion Factor (DF∗), whereby the pre-existing calculation model of the Disproportion Factor (DF) developed by Goose (2006) is used as the basis. Our approach will allow companies to have a much more realistic perception and coloured picture of decision-making, where societal acceptability is fully integrated into the calculation process. This way, the decision will not only be more accurate, but also be more defensible. After a literature review, 11 indicators were identified as relevant within the framework of prevention of disasters in companies. Factor analysis confirmed that the 11 indicators represent a societal acceptability of risks (SAR) concept. By using a scoring system we explain how an adjusted DF∗ can be determined. An illustrative example is also given to show how the model can actually be used. This study thus provides a scoring system that could be used by risk managers in order to include the societal acceptability of risks (SAR) into economic analyses of industrial risks.
AB - This paper develops an approach considering parameters related to the societal acceptance of industrial risks, to determine an adjusted Disproportion Factor (DF∗), whereby the pre-existing calculation model of the Disproportion Factor (DF) developed by Goose (2006) is used as the basis. Our approach will allow companies to have a much more realistic perception and coloured picture of decision-making, where societal acceptability is fully integrated into the calculation process. This way, the decision will not only be more accurate, but also be more defensible. After a literature review, 11 indicators were identified as relevant within the framework of prevention of disasters in companies. Factor analysis confirmed that the 11 indicators represent a societal acceptability of risks (SAR) concept. By using a scoring system we explain how an adjusted DF∗ can be determined. An illustrative example is also given to show how the model can actually be used. This study thus provides a scoring system that could be used by risk managers in order to include the societal acceptability of risks (SAR) into economic analyses of industrial risks.
KW - Societal acceptability
KW - Industrial risks
KW - Disproportion Factor
KW - Cost-benefit analysis
KW - Safety decision making
U2 - 10.1016/j.ssci.2015.12.007
DO - 10.1016/j.ssci.2015.12.007
M3 - Article
SN - 0925-7535
JO - Safety Science
JF - Safety Science
ER -