The ability of an autonomous agent to select rational actions is vital in enabling it to achieve its goals. To do so effectively in a high-stakes setting, the agent must be capable of considering the risk and potential reward of both immediate and future actions. In this paper we provide a novel method for calculating risk alongside utility in online planning algorithms. We integrate such a ris...

The classical mean-variance investment model is simple, elegant, and popular. As such, it is also subject to criticisms. One unsatisfactory feature of the model is that variance treats the upside and downside equally as risks. In this regard, the downside Lower Partial Moments (LPM) are more attractive as alternative risk measures, since they only penalize the downside. In the meanwhile, consid...

Small enterprises are facing significant challenges to become suppliers of bigger customers due to the excessive costs associated with accessing a vast market of potential customers. It is essential for small businesses to adopt an ERP system to maintain control of their operations and to compete globally. An ERP implementation is expensive and risky for all businesses, but it is still more cha...

Purpose ­ Enterprise resource planning (ERP) systems are increasingly being adopted by organisations in developing countries. As in industrialised countries, this adoption seems beset by significant rates of failure, leading to a large waste of investment and other resources. This study seeks to understand why such ERP failure occurs. Design/methodology/approach ­ This study moves beyond factor...

I study a simple model of moral hazard with soft information. The risk-averse agent takes an action and she alone observes the stochastic outcome; hence the principal faces a problem of ex post adverse selection. Some measure of truthful revelation is necessary to implement any effort, for which an audit is required. And for effort to be induced the agent must be offered a rent. There exists a ...

This document lays out a framework by which defensible performance metrics for oil spill response can be developed in an analytic-deliberative process that includes a broad range of stakeholders and is informed by high quality scientific knowledge. Performance metrics can be used to: improve oil spill response planning, promote institutional learning post-response, support public communication ...

in the response phase the most important step is to assess disaster after occurrence. by disaster assessment, we can obtain all the needed information for controlling, decision-making and also disaster planning. lack of disaster assessment causes you to make unsuitable decisions ba sed on limited or inadequate data which leads to imperfect disaster response. according to ifrc, disaster response...

We have been developing path planning techniques to look for paths that balance the utility and risk associated with different routes through a minefield. Such methods will allow a battlegroup commander to evaluate alternative route options while searching for low risk paths. A risk management framework can be used to describe the relative values of different factors such as risk versus time to...

We have developed path-planning techniques and tools to look for paths through minefields. Our techniques seek to balance the length and risk associated with different routes through a minefield. Our methods are intended to provide battlegroup commanders powerful new tools to evaluate alternative routes while searching for low risk paths. It is well known how to find the path of shortest distan...