International Society of Science and Applied Technologies |
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Risk Assessment with Causality Measurement | ||||
Author | Mingxiao Jiang
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Co-Author(s) | Feng-Bin Sun
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Abstract | One of the challenges in risk assessment is to classify causality between final consequences and hazards. On top of that, additional challenge is to assess risk quantitatively even after causality is classified. In this paper, a likelihood function for the probability of hazard is constructed with such causality information, and the parameters of distribution function for hazard can be obtained from maximum likelihood estimation. The risk can be assessed more accurately than the ones obtained by conventional approaches.
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Keywords | Causality, Maximum Likelihood, Risk Assessment | |||
Article #: 23-204 |
August 3-5, 2017 - Chicago, Illinois, U.S.A. |