Risk Typologies


Risk Typologies : (1) Subjective risk: The mental state of an individual who experiences uncertainty or doubt or worry as to the outcome of a given event. (2) Objective risk. The variation that occurs when actual losses differ from expected losses. (3) Real risk. The combination of probability and negative consequence that exists in the real world. (4) Observed risk: The measurement of that combination obtained by constructing a model of the real world. (5) Perceived risk: The rough estimate of real risk made by an untrained member of the general public. (Thompson, 1986)
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