Search results for " Social perspective"
showing 3 items of 3 documents
Manager’s and citizen’s perspective of positive and negative risks for small probabilities
2011
So far „risk‟ has been mostly defined as the expected value of a loss, mathematically PL, being P the probability of an adverse event and L the loss incurred as a consequence of the event. The so called risk matrix is based on this definition. Also for favorable events one usually refers to the expected gain PG, being G the gain incurred as a consequence of the positive event. These “measures” are generally violated in practice. The case of insurances (on the side of losses, negative risk) and the case of lotteries (on the side of gains, positive risk) are the most obvious. In these cases a single person is available to pay a higher price than that stated by the mathematical expected valu…
Rethinking the risk matrix
2011
So far risk has been mostly defined as the expected value of a loss, mathematically PL (being P the probability of an adverse event and L the loss incurred as a consequence of the adverse event). The so called risk matrix follows from such definition. This definition of risk is justified in a long term “managerial” perspective, in which it is conceivable to distribute the effects of an adverse event on a large number of subjects or a large number of recurrences. In other words, this definition is mostly justified on frequentist terms. Moreover, according to this definition, in two extreme situations (high-probability/low-consequence and low-probability/high-consequence), the estimated risk…
Between sacred and profane: religious art in sicily in the diary of a spanish traveller of the eighteenth century
2019
The diary of Antonio Desbrull y Boíl De Arenos's trip to Sicily offers the possibility to observe directly the perception of the sacred art of the author, characterized by an enlightened cultural profile, but far from the neoclassical taste that is the fundamental trait common to many of the contemporary travelers. Desbrull's testimony also allows us to examine some of the main religious buildings on the island, the works contained therein and the architectural decoration, an expression of a baroque taste that strikes and fascinates the author. Sacred art is considered here as a mere aesthetic phenomenon, devoid of the spiritual dimension that lies at the basis of both the commissioning of …