Open Collections

Risk measures in engineering design under uncertainty

International Conference on Applications of Statistics and Probability (12th : 2015 : Vancouver, B.C.)

Engineering decisions are made under substantial uncertainty about current and future system cost and response. A risk-neutral decision maker would rely on expected values when comparing designs, while a risk-averse decision maker might adopt nonlinear utility functions or failure probability criteria. The paper shows that these models for making decisions fall within a framework of risk measures that includes many other possibilities. The paper provides an overview of the framework, highlights benefits derived from certain risk measures, and gives a truss design example.

Text

This collection contains the proceedings of ICASP12, the 12th International Conference on Applications of Statistics and Probability in Civil Engineering held in Vancouver, Canada on July 12-15, 2015. Abstracts were peer-reviewed and authors of accepted abstracts were invited to submit full papers. Also full papers were peer reviewed. The editor for this collection is Professor Terje Haukaas, Department of Civil Engineering, UBC Vancouver.

Vancouver : University of British Columbia Library

10.14288/1.0076159

Non UBC

Unreviewed

http://creativecommons.org/licenses/by-nc-nd/2.5/ca/