Graham Kendall
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Professor Graham Kendall

Professor Graham Kendall is the Provost and CEO of The University of Nottingham Malaysia Campus (UNMC). He is also a Pro-Vice Chancellor of the University of Nottingham.

He is a Director of MyResearch Sdn Bhd, Crops for the Future Sdn Bhd. and Nottingham Green Technologies Sdn Bhd. He is a Fellow of the British Computer Society (FBCS) and a Fellow of the Operational Research Society (FORS).

He has published over 230 peer reviewed papers. He is an Associate Editor of 10 journals and the Editor-in-Chief of the IEEE Transactions of Computational Intelligence and AI in Games.

News

I have published some papers on timetabling.
http://bit.ly/hSGAhZ
I blog occasionally, feel free to take a look.
http://bit.ly/hq6rMK

Latest Blog Post

How Isaac Newton could help you beat the casino at roulette

Random Blog Post

Conjuring Trick

Publication(s)

A Hyper-Heuristic Approach to Strip Packing Problems
http://bit.ly/fkNqJz
Heuristic Space Diversity Management in a Meta-Hyper-Heuristic Framework
http://bit.ly/1uuQW45
Repeated Goofspiel: A Game of Pure Strategy
http://bit.ly/1hWAFiz
Maintaining regularity and generalization in data using the minimum description length principle and genetic algorithm: Case of grammatical inference
http://bit.ly/29eO1dI

Graham Kendall: Details of Requested Publication


Citation

Li, J; Pollard, S; Kendall, G; Soane, E and Davies, G Optimising risk reduction: An expected utility approach for marginal risk reduction during regulatory decision making. Reliability Engineering and System Safety, 94 (11): 1729-1734, 2009.


Abstract

In practice, risk and uncertainty are essentially unavoidable in many regulation processes. Regulators frequently face a risk-benefit trade-off since zero risk is neither practicable nor affordable. Although it is accepted that cost–benefit analysis is important in many scenarios of risk management, what role it should play in a decision process is still controversial. One criticism of cost–benefit analysis is that decision makers should consider marginal benefits and costs, not present ones, in their decision making. In this paper, we investigate the problem of regulatory decision making under risk by applying expected utility theory and present a new approach of cost–benefit analysis. Directly taking into consideration the reduction of the risks, this approach achieves marginal cost–benefit analysis. By applying this approach, the optimal regulatory decision that maximizes the marginal benefit of risk reduction can be considered. This provides a transparent and reasonable criterion for stakeholders involved in the regulatory activity. An example of evaluating seismic retrofitting alternatives is provided to demonstrate the potential of the proposed approach.


pdf

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doi

The doi for this publication is 10.1016/j.ress.2009.05.005 You can link directly to the original paper, via the doi, from here

What is a doi?: A doi (Document Object Identifier) is a unique identifier for sicientific papers (and occasionally other material). This provides direct access to the location where the original article is published using the URL http://dx.doi/org/xxxx (replacing xxx with the doi). See http://dx.doi.org/ for more information


Journal Rankings


ISI Web of Knowledge Journal Citation Reports

The Web of Knowledge Journal Citation Reports (often known as ISI Impact Factors) help measure how often an article is cited. You can get an introduction to Journal Citation Reports here. Below I have provided the ISI impact factor for the jourrnal in which this article was published. For complete information I have shown the ISI ranking over a number of years, with the latest ranking highlighted.

2014 (2.410), 2013 (2.048), 2012 (1.901), 2011 (1.770), 2010 (1.897), 2009 (1.908), 2008 (1.379), 2007 (1.004), 2006 (0.920), 2005 (0.747), 2004 (0.551), 2003 (0.741), 2002 (0.700), 2001 (0.545), 2000 (0.500)

URL

This pubication does not have a URL associated with it.

The URL is only provided if there is additional information that might be useful. For example, where the entry is a book chapter, the URL might link to the book itself.


Bibtex

@ARTICLE{lpksd2009, author = {J. Li and S. Pollard and G. Kendall and E. Soane and G. Davies},
title = {Optimising risk reduction: An expected utility approach for marginal risk reduction during regulatory decision making},
journal = {Reliability Engineering and System Safety},
year = {2009},
volume = {94},
pages = {1729--1734},
number = {11},
month = {November 2009},
abstract = {In practice, risk and uncertainty are essentially unavoidable in many regulation processes. Regulators frequently face a risk-benefit trade-off since zero risk is neither practicable nor affordable. Although it is accepted that cost–benefit analysis is important in many scenarios of risk management, what role it should play in a decision process is still controversial. One criticism of cost–benefit analysis is that decision makers should consider marginal benefits and costs, not present ones, in their decision making. In this paper, we investigate the problem of regulatory decision making under risk by applying expected utility theory and present a new approach of cost–benefit analysis. Directly taking into consideration the reduction of the risks, this approach achieves marginal cost–benefit analysis. By applying this approach, the optimal regulatory decision that maximizes the marginal benefit of risk reduction can be considered. This provides a transparent and reasonable criterion for stakeholders involved in the regulatory activity. An example of evaluating seismic retrofitting alternatives is provided to demonstrate the potential of the proposed approach.},
doi = {10.1016/j.ress.2009.05.005},
issn = {0951-8320},
keywords = {Regulatory decision making, Cost–benefit analysis, ALARP, Expected utility theory},
owner = {est},
timestamp = {2010.02.22},
webpdf = {http://www.graham-kendall.com/papers/lpksd2009.pdf} }