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Preference Functions for Spatial Risk Analysis
Author(s) -
Keller L. Robin,
Simon Jay
Publication year - 2019
Publication title -
risk analysis
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.972
H-Index - 130
eISSN - 1539-6924
pISSN - 0272-4332
DOI - 10.1111/risa.12892
Subject(s) - preference , function (biology) , risk analysis (engineering) , yield (engineering) , econometrics , computer science , simple (philosophy) , spatial analysis , geography , statistics , mathematics , business , philosophy , materials science , epistemology , evolutionary biology , metallurgy , biology
When outcomes are defined over a geographic region, measures of spatial risk regarding these outcomes can be more complex than traditional measures of risk. One of the main challenges is the need for a cardinal preference function that incorporates the spatial nature of the outcomes. We explore preference conditions that will yield the existence of spatial measurable value and utility functions, and discuss their application to spatial risk analysis. We also present a simple example on household freshwater usage across regions to demonstrate how such functions can be assessed and applied.