Inderscience Publishers

On understanding the risk concept

Risk is everywhere, and people have to cope with risks. In order to establish a scientific theory of risk, three core problems should be solved. They are how to define risk, how to express risk in a proper mathematical form and how to measure risk. On the basis of a common understanding between domestic and foreign scholars on risk definition, a complete risk definition is presented based on uncertain information. Five basic attributes of risk are given: harmfulness, possibilities, dynamism, subjection and complementarity. Then, a detailed description of each attribute is given, especially on harmfulness, considered to be the essential attribute.

Keywords: risk theory, risk concepts, risk attributes, risk definition, risk measurement, risk assessment, nuclear power, nuclear energy

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