Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Master Level - Period 1- HT18 9/18/18, 22(30

Reading Quiz: Philosophy of Risk

Due 19 Sep at 8:15 Points 16 Questions 4
Available 5 Aug at 0:00 - 19 Sep at 8:15 about 2 months Time limit None

Instruc!ons
These questions relate to the following text:

Hansson, Sven Ove. "Risk", The Stanford Encyclopedia of Philosophy (Spring 2014 Edition).

You find a link to the text on the Lecture Information & Reading Instructions page.

Please note that the test needs to be completed before the start of the lecture. You need at least 12 points
on this quiz to receive 0.5 bonus points. Not that you only get one attempt!

A!empt history
Attempt Time Score
LATEST Attempt 1 33 minutes 15 out of 16

Score for this quiz: 15 out of 16

Submitted 18 Sep at 22:29
This attempt took 33 minutes.

Question 1 4 / 4 pts

"Subjective risk can be understood as a person's overall assessment of the

seriousness of a potential harm." True or false?

Correct! True

False

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Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Master Level - Period 1- HT18 9/18/18, 22(30

Question 2 4 / 4 pts

Which of the following claims about the article are correct?

Type I error consists in failing to identify an existing phenomenon.

Correct!
Science is more tolerant of type II errors than of type I errors whereas in
practical and policy making procedures, type II errors might often be equally or
more problematic.

Contract theorists can provide a restriction on risk impositions such that risk
impositions are acceptable if and only if they are supported by actual
consensus, allowing for individuals to veto. This is a promising way of
appraising risk.

Correct!
A shift in focus from a notion of risk in terms of statistical expectation values
towards considering risk-taking and risk-imposition could be a step towards
finding a solution to the problem of appraising risks from a moral viewpoint.

Question 3 4 / 4 pts

You are the new safety inspector at a company building self-driving electric
cars. The automatic self-driving system is equipped with several safety
functions. In addition to these, the driver can also change from automatic
mode to driving in manual mode. In a series of tests on the transfer function
from automatic to manual control you detect an error resulting in failure of

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Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Master Level - Period 1- HT18 9/18/18, 22(30

transfer. This is a flaw in [ Select ] . Furthermore, you

are concerned to find that the transfer function relies on the functionality of
the automatic control system, making the transfer to manual mode
[ Select ] the functionality of the automatic system. You

also find that the battery overheats after prolonged use not exceeding the
safety factor , defined as three times the estimated maximal journey time. As

a [ Select ] you recommend installing an extra cooling

device.

Answer 1:

Correct! the multiple safety barrier system

Answer 2:

Correct! dependent on

Answer 3:

Correct! safety factor

Answer 4:

Correct! secondary preventive measure

Question 4 3 / 4 pts

You are a financial advisor at a bank, meeting with a client who worries about
some of their investments. The client would like to change their prior
investments by ones associated with lower risk. According to
[ Select ] , if two outcomes O1 and O2 have the same

expected utility but O2 is associated with higher risk than O1, then a risk

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 Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Master Level - Period 1- HT18 9/18/18, 22(30

averse person would favour O1 over O2 . In order to accommodate the

client's request, you utilize portfolio analysis, where an investment I1 is
regarded as less risky than another investment I2 if
[ Select ] . Your client's behavior deviates from your

theoretical models of expected behavior. Descriptive theories can explain

some deviations in actual behavior in contrast to
[ Select ] .

Answer 1:

Correct! the Arrow-Pratt measure

Answer 2:

Correct! favour O1 over O2

Answer 3:

Correct! the outcome of investment I1 is calculated to have a lower standard deviation

than that of I2

Answer 4:

Correct answer models of idealized rational behavior under risk

You Answered models of probability differences close to the ends of a utility distribution

Quiz score: 15 out of 16

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