Risk Department: Risk-as-a-Service’s Post

"...governments (and organisations) will tend to be led to act too conservatively in Type I contexts and too casually in Type II contexts, and to trade Type 1 errors for Type II errors, even when Type II errors involve the greater expected loss". - Royal Society (1992) Risk: Analysis, Perception and Management, Report of the Royal Society, London, pp.139-140

  • Risk Management. Type 1 2 and 3 errors. Risk Department. Risk Analysis and Assessment

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