Varieties of Risk

AHRC sponsored research project

Short Project Description

The notion of risk plays a central role in economics, finance, health, psychology, law and elsewhere–and is prevalent in managing challenges and resources in day-to-day life. Almost all of the existing literature on risk takes it for granted that there is one and only one legitimate notion of risk: the probabilistic notion on which the risk of an event or state of affairs is (partly) determined by its probability. The primary aim of this research project is to challenge this monist view of risk and provide a philosophical framework for a pluralist perspective, on which there are multiple, equally legitimate, notions of risk. This new framework will then be applied to crucial questions about risk that arise in psychology, criminal law, outdoor sports, and risk management.