The world is full of uncertainties, ranging from climate change, financial markets, natural disasters, terror attacks, and personal health to the measurements of the most fundamental elements of all: time and space. Dealing with uncertainty is a given in life, and any decision is always made under a certain degree of uncertainty. Risk is one of the most important concepts for dealing with uncertainty in decision making. Another important concept associated with risk is hazard. Hazard is a natural or man-made phenomenon that has the potential to cause harm (i.e., social or economic consequences). Hurricanes, earthquakes, tornadoes, and...
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