Forschungs- & Entwicklungsinformationsdienst der Gemeinschaft - CORDIS

Definition of risk model

The SECURE risk model views interaction as consisting of a number of potential outcomes, each characterized by the cost/benefit of it occurring. As a result, risk is viewed as combination of the likelihood of an outcome occurring combined with the cost/benefit it incurs.

The innovative feature of this result is that it makes the risk of an interaction explicit during the decision making process. Moreover, it also makes a clear link between trust and risk by viewing the trustworthiness of a principal as indicative of the likelihood of each outcome during an interaction with this principal.

This result is of use to the trust management scientific community as a way of both making risk in decision making explicit and combining it with trust. It is currently too early to estimate its commercial potential. As a result, no specific steps have been taken at this stage in order to protect any IPR emanating from it.

Reported by

University of Cambridge
The Old Schools Trinity Lane
CB2 1TS Cambridge
United Kingdom
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