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A game-theoretical approach for reciprocal security-related prevention investment decisions
- Source :
-
Reliability Engineering & System Safety . Jan2010, Vol. 95 Issue 1, p1-9. 9p. - Publication Year :
- 2010
-
Abstract
- Abstract: Every company situated within a chemical cluster faces important security risks from neighbouring companies. Investing in reciprocal security preventive measures is therefore necessary to avoid major accidents. These investments do not, however, provide a direct return on investment for the investor-company and thus plants are hesitative to invest. Moreover, there is likelihood that even if a company has fully invested in reciprocal security prevention, its neighbour has not, and as a result the company can experience a major accident caused by an initial (minor or major) accident that occurred in an adjacent chemical enterprise. In this article we employ a game-theoretic approach to interpret and model behaviour of two neighbouring chemical plants while negotiating and deciding on reciprocal security prevention investments. [Copyright &y& Elsevier]
Details
- Language :
- English
- ISSN :
- 09518320
- Volume :
- 95
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- Reliability Engineering & System Safety
- Publication Type :
- Academic Journal
- Accession number :
- 44470528
- Full Text :
- https://doi.org/10.1016/j.ress.2009.07.001