Operational Safety Economics : a Practical Approach focused on the Chemical and Process Industries

Content: Cover
 Title Page
 Copyright
 Contents
 Preface
 Disclaimer
 Acknowledgements
 List of Acronyms
 Chapter 1 Introduction
 1.1 The ""Why"" of Operational Safety
 1.2 Back to the Future: the Economics of Operational Safety
 1.3 Difficulties in Operational Safety Economics
 1.4 The Field of Operational Safety within the Profitability of an Organization
 1.5 Conclusions
 References
 Chapter 2 Operational Risk, Operational Safety, and Economics
 2.1 Defining the Concept of Operational Risk
 2.2 Dealing with Operational Risks
 2.3 Types of Operational Risk. 2.4 The Importance of Operational Safety Economics for a Company2.5 Balancing between Productivity and Safety
 2.6 The Safety Equilibrium Situation or ""HRO Safety""
 2.6.1 HRO Principle 1: Targeted at Disturbances
 2.6.2 HRO Principle 2: Reluctant for Simplification
 2.6.3 HRO Principle 3: Sensitive toward Implementation
 2.6.4 HRO Principle 4: Devoted to Resiliency
 2.6.5 HRO Principle 5: Respectful for Expertise
 2.7 The Egg Aggregated Model (TEAM) of Safety Culture
 2.8 Safety Futures
 2.9 The Controversy of Economic Analyses. 2.10 Scientific Requirements for Adequate Economic Assessment Techniques2.11 Four Categories of Data
 2.12 Improving Decision-making Processes for Investing in Safety
 2.13 Conclusions
 References
 Chapter 3 Economic Foundations
 3.1 Macroeconomics and Microeconomics
 3.2 Safety Demand and Long-term Average Cost of Production
 3.2.1 Safety Demand
 3.2.2 Long-term Average Cost of Production and Safety
 3.3 Safety Value Function
 3.4 Expected Value Theory, Value at Risk, and Safety Attitude
 3.4.1 Expected Value Theory
 3.4.2 Value at Risk
 3.4.3 Safety Attitude
 3.5 Safety Utilities. 3.5.1 Safety Utility Functions3.5.2 Expected Utility and Certainty Equivalent
 3.6 Measuring Safety Utility Functions
 3.7 Preferences of Safety Management --
Safety Indifference Curves
 3.8 Measuring Safety Indifference Curves
 3.8.1 Questionnaire-based Type I Safety Indifference Curves
 3.8.2 Problems with Determining an Indifference Curve
 3.8.3 Time Trade-off-based Safety Utilities for Type II Safety Indifference Curves
 3.9 Budget Constraint and n-Dimensional Maximization Problem Formulation. 3.10 Determining Optimal Safety Management Preferences within the Budget Constraint for a Two-dimensional Problem3.11 Conclusions
 References
 Chapter 4 Operational Safety Decision-making and Economics
 4.1 Economic Theories and Safety Decisions
 4.1.1 Introduction
 4.1.2 Expected Utility Theory
 4.1.3 Prospect Theory
 4.1.4 Bayesian Decision Theory
 4.1.5 Risk and Uncertainty
 4.1.6 Making a Choice Out of a Set of Options
 4.1.7 Impact of Affect and Emotion in the Process of Making a Choice between Alternatives
 4.1.8 Influence of Regret and Disappointment on Decision-making.