We report an experimental test of the four touchstones of rationality in choice under risk – utility maximization, stochastic dominance, expected-utility maximization and small-stakes risk neutrality – with students from one of the best universities in the United States and one of the best...

While Stochastic Dominance has been employed in various forms as early as 1932, it has only been since 1969--1970 that the notion has been developed and extensively employed in the area of economics, finance, agriculture, statistics, marketing and operations research. In this survey, the first-,...

Operational systems predict the consequences of atmospheric releases of hazardous materials for real-time emergency response, pre-event planning, and post-incident assessment. Such systems provide federal, state, and local agencies, emergency planners and responders, public health officials,...

In this paper a methodology for analytically estimating the response of replacement components in a system subjected to worst-case hostile shocks is presented. This methodology does not require the use of system testing but uses previously compiled shock data and inverse dynamic analysis to...

In most probabilistic risk assessments, there is a subset of accident scenarios that involves physical challenges to the system, such as high heat rates and/or accelerations. The system`s responses to these challenges may be complicated, and their prediction may require the use of long-running...

Many structural components designed to support static loads must also demonstrate the ability to withstand low probability events that can produce impact loading. For some constructs the structure is not only subjected to the initial impact, but is also subjected to rebound impacts as well. In...