scholarly journals Domain‐specific risk attitudes and aging—A systematic review

2020 ◽  
Author(s):  
Adriana N. König
Keyword(s):  
Systematic Review ◽  
Risk Attitudes ◽  
Domain Specific ◽  
Specific Risk

Risk attitudes in risk-based design: Considering risk attitude using utility theory in risk-based design

2012 ◽  
Vol 26 (4) ◽  
pp. 393-406 ◽  
Author(s):  
Douglas Van Bossuyt ◽  
Chris Hoyle ◽  
Irem Y. Tumer ◽  
Andy Dong
Keyword(s):  
Collaborative Design ◽  
Failure Modes ◽  
Expected Value ◽  
Utility Functions ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Domain Specific ◽  
Industrial Sectors ◽  
Specific Risk ◽  
Risk Appetite

AbstractEngineering risk methods and tools account for and make decisions about risk using an expected-value approach. Psychological research has shown that stakeholders and decision makers hold domain-specific risk attitudes that often vary between individuals and between enterprises. Moreover, certain companies and industries (e.g., the nuclear power industry and aerospace corporations) are very risk-averse whereas other organizations and industrial sectors (e.g., IDEO, located in the innovation and design sector) are risk tolerant and actually thrive by making risky decisions. Engineering risk methods such as failure modes and effects analysis, fault tree analysis, and others are not equipped to help stakeholders make decisions under risk-tolerant or risk-averse decision-making conditions. This article presents a novel method for translating engineering risk data from the expected-value domain into a risk appetite corrected domain using utility functions derived from the psychometric Engineering Domain-Specific Risk-Taking test results under a single-criterion decision-based design approach. The method is aspirational rather than predictive in nature through the use of a psychometric test rather than lottery methods to generate utility functions. Using this method, decisions can be made based upon risk appetite corrected risk data. We discuss development and application of the method based upon a simplified space mission design in a collaborative design-center environment. The method is shown to change risk-based decisions in certain situations where a risk-averse or risk-tolerant decision maker would likely choose differently than the expected-value approach dictates.

Toward Considering Risk Attitudes in Engineering Organizations Using Utility Theory

2012 ◽  
Author(s):  
Douglas Van Bossuyt ◽  
Chris Hoyle ◽  
Irem Y. Tumer ◽  
Andy Dong ◽  
Toni Doolen ◽  
...  
Keyword(s):  
Decision Making ◽  
Risk Attitude ◽  
Expected Value ◽  
Utility Functions ◽  
Risk Attitudes ◽  
Risk Averse ◽  
Past Performance ◽  
Domain Specific ◽  
Specific Risk ◽  
Engineering Organizations

Design projects within large engineering organizations involve numerous uncertainties that can lead to unacceptably high levels of risk. Practicing designers recognize the existence of risk and commonly are aware of events that raise risk levels. However, a disconnect exists between past project performance and current project execution that limits decision-making. This disconnect is primarily due to a lack of quantitative models that can be used for rational decision-making. Methods and tools used to make decisions in risk-informed design generally use an expected value approach. Research in the psychology domain has shown that decision-makers and stakeholders have domain-specific risk attitudes that often have variations between individuals and between companies. Risk methods used in engineering such as Failure Modes and Effects Analysis (FMEA), Fault Tree Analysis (FTA), and others are often ill-equipped to help stakeholders make decisions based upon risk-tolerant or risk-averse decision-making conditions. This paper focuses on the specific issue of helping stakeholders make decisions under risk-tolerant or risk-averse decision-making conditions and presents a novel method of translating engineering risk data from the domain of expected value into a domain corrected for risk attitude. This is done by using risk utility functions derived from the Engineering-Domain-Specific Risk-Taking (E-DOSPERT) test. This method allows decisions to be made based upon data that is risk attitude corrected. Further, the method uses an aspirational measure of risk attitude as opposed to existing lottery methods of generating utility functions that are based upon past performance. An illustrative test case using a simplified space mission designed in a collaborative design center environment is included. The method is shown to change risk-informed decisions in certain situations where a risk-tolerant or risk-averse decision-maker would likely choose differently than the dictates of the expected value approach.

scholarly journals Decision-making competence predicts domain-specific risk attitudes

2015 ◽  
Vol 6 ◽  
Author(s):  
Joshua A. Weller ◽  
Andrea Ceschi ◽  
Caleb Randolph
Keyword(s):  
Decision Making ◽  
Risk Attitudes ◽  
Domain Specific ◽  
Specific Risk

An Evolutionary Domain-Specific Risk Scale

2013 ◽  
Author(s):  
Andreas Wilke ◽  
Amanda Sherman ◽  
Bonnie Curdt ◽  
Sumona Mondal ◽  
Carey Fitzgerald ◽  
...  
Keyword(s):  
Domain Specific ◽  
Specific Risk ◽  
Risk Scale

scholarly journals Risk Factors for Failure in Conservatively Treated Osteoporotic Vertebral Fractures: A Systematic Review

2021 ◽  
pp. 219256822098227
Author(s):  
Max J. Scheyerer ◽  
Ulrich J. A. Spiegl ◽  
Sebastian Grueninger ◽  
Frank Hartmann ◽  
Sebastian Katscher ◽  
...  
Keyword(s):  
Risk Factors ◽  
Systematic Review ◽  
Treatment Failure ◽  
Patient Specific ◽  
Mineral Density ◽  
Radiographic Findings ◽  
Specific Risk ◽  
Fracture Development ◽  
Predict Treatment Failure

Study Design: Systematic review. Objectives: Osteoporosis is one of the most common diseases of the elderly, whereby vertebral body fractures are in many cases the first manifestation. Even today, the consequences for patients are underestimated. Therefore, early identification of therapy failures is essential. In this context, the aim of the present systematic review was to evaluate the current literature with respect to clinical and radiographic findings that might predict treatment failure. Methods: We conducted a comprehensive, systematic review of the literature according to the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-analyses) checklist and algorithm. Results: After the literature search, 724 potentially eligible investigations were identified. In total, 24 studies with 3044 participants and a mean follow-up of 11 months (range 6-27.5 months) were included. Patient-specific risk factors were age >73 years, bone mineral density with a t-score <−2.95, BMI >23 and a modified frailty index >2.5. The following radiological and fracture-specific risk factors could be identified: involvement of the posterior wall, initial height loss, midportion type fracture, development of an intravertebral cleft, fracture at the thoracolumbar junction, fracture involvement of both endplates, different morphological types of fractures, and specific MRI findings. Further, a correlation between sagittal spinal imbalance and treatment failure could be demonstrated. Conclusion: In conclusion, this systematic review identified various factors that predict treatment failure in conservatively treated osteoporotic fractures. In these cases, additional treatment options and surgical treatment strategies should be considered in addition to follow-up examinations.

An evolutionary domain-specific risk scale.

2014 ◽  
Vol 8 (3) ◽  
pp. 123-141 ◽  
Author(s):  
Andreas Wilke ◽  
Amanda Sherman ◽  
Bonnie Curdt ◽  
Sumona Mondal ◽  
Carey Fitzgerald ◽  
...  
Keyword(s):  
Domain Specific ◽  
Specific Risk ◽  
Risk Scale

An Investigation Into the Driving Factors of Creativity in Design for Additive Manufacturing

2017 ◽  
Author(s):  
Michael Barclift ◽  
Timothy W. Simpson ◽  
Maria Alessandra Nusiner ◽  
Scarlett Miller
Keyword(s):  
Additive Manufacturing ◽  
Self Report ◽  
Risk Attitudes ◽  
Design For Additive Manufacturing ◽  
Domain Specific ◽  
Common Framework ◽  
And Performance ◽  
Student Risk ◽  
Prior Experiences ◽  
Design Freedom

Additive manufacturing (AM) provides engineers with nearly unlimited design freedom, but how much do they take advantage of that freedom? The objective is to understand what factors influence a designer’s creativity and performance in Design for Additive Manufacturing (DFAM). Inspired by the popular Marshmallow Challenge, this exploratory study proposes a framework in which participants apply their DFAM skills in sketching, CAD modeling, 3D-Printing, and a part testing task. Risk attitudes are assessed through the Engineering Domain-Specific Risk-Taking (E-DOSPERT) scale, and prior experiences are captured by a self-report skills survey. Multiple regression analysis found that the average novelty of the participant’s ideas, engineering degree program, and risk seeking preference were statistically significant when predicting the performance of their ideas in AM. This study provides a common framework for AM educators to assess students’ understanding and creativity in DFAM, while also identifying student risk attitudes when conducting an engineering design task.

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