Archives For Risk

What is risk, how dow we categorise it and deal with it.

Matrix (Image source: The Matrix film)

How algorithm can kill…

So apparently the Australian Government has been buying it’s software from Cyberdyne Systems, or at least you’d be forgiven for thinking so given the brutal (dare I say inhumane) treatment Centerlink’s autonomous debt recovery software has been handing out to welfare recipients who ‘it’ believes have been rorting the system. Yep, you heard right it’s a completely automated compliance operation (well at least the issuing part).  Continue Reading…

Donald Trump

Image source: AP/LM Otero

A Trump presidency in the wings who’d have thought! And what a total shock it was to all those pollsters, commentators and apparatchiks who are now trying to explain why they got it so wrong. All of which is a textbook example of what students of risk theory call a Black Swan event. Continue Reading…

Matrix (Image source: The Matrix film)

A reader of this blog might be aware of both the difference between ergodic and non-ergodic risks, and how the presence of non-ergodicity (i.e. the possibility of irreversible catastrophic outcomes) undermines a key assumption on which Pascalian risk assessment is based. But what to do about it? Well one thing we can practically do is to ensure that when we assess risk we take into account the non-ergodic nature of such catastrophes.  Continue Reading…

Anna Johnson on boycotting the census

M1 Risk_Spectrum_redux

A short article on (you guessed it) risk, uncertainty and unpleasant surprises for the 25th Anniversary issue of the UK SCS Club’s Newsletter, in which I introduce a unified theory of risk management that brings together aleatory, epistemic and ontological risk management and formalises the Rumsfeld four quadrant risk model which I’ve used for a while as a teaching aid.

My thanks once again to Felix Redmill for the opportunity to contribute.  🙂

Monkey-typing

Safety cases and that room full of monkeys

Back in 1943, the French mathematician Émile Borel published a book titled Les probabilités et la vie, in which he stated what has come to be called Borel’s law which can be paraphrased as, “Events with a sufficiently small probability never occur.” Continue Reading…

MH 370 search vessel (Image source: ATSB)

Once more with feeling

Sonar vessels searching for Malaysia Airlines Flight MH370 in the southern Indian Ocean may have missed the jet, the ATSB’s Chief Commissioner Martin Dolan has told News Online. he went on to point out the uncertainties involved, the difficulty of terrain that could mask the signature of wreckage and that therefore problematic areas would need to be re-surveyed. Despite all that the Commissioner was confident that the wreckage site would be found by June. Me I’m not so sure.

Continue Reading…