9/23/2019 Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Period 3- VT19

Reading Quiz: Philosophy of Risk

Due 15 Feb at 13:15 Points 4 Questions 4
Available until 15 Feb at 13:15 Time limit None

Instructions
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 3 points
on this quiz to receive 0.5 bonus points. Not that you only get one attempt!

This quiz was locked 15 Feb at 13:15.

Attempt history
Attempt Time Score
LATEST Attempt 1 14 minutes 1.25 out of 4

Score for this quiz: 1.25 out of 4

Submitted 15 Feb at 11:46
This attempt took 14 minutes.

Question 1 0 / 1 pts

'Risk =df "the fact that a decision is made under conditions of known
probabilities". Is this a qualitative definition of risk?

orrect answer No

You Answered Yes

https://kth.instructure.com/courses/16456/quizzes/9407 1/4
9/23/2019 Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Period 3- VT19

Question 2 0 / 1 pts

Which of the following claims about the article are correct?

You Answered
Science is more tolerant of types of errors that conclude the existence of an
non-existent phenomenon than of errors that fail to identify an existing
phenomenon.

orrect answer Type II errors consist in failing at identifying an existing phenomenon.

Correct!
Exposure of a person to a risk can be acceptable if the exposure is part of an
equitable social system of risk taking, which works to that person's advantage.

orrect answer
On a rights-based ethical theory, if a person P1 has a right such that another
person P2 is not allowed to bring about a certain outcome O, then P1 has a
further right that P2 does not perform any action which would increase the
probability of the outcome O.

Question 3 0.5 / 1 pts

SR-71 Blackbird planes were built to travel at exceptionally high speeds. The
materials used to construct the planes would expand during flight due to
heat. The planes were therefore constructed with gaps between the metal

plates as [ Select ] , thereby removing the risk of the

plane being torn apart during flight. A safety factor was used during the
design process of the planes to ensure that the planes would cope with
expansions exceeding the predicted maximum. The life-preserving system of
the cockpit was separated from the other parts of the plane, and was also
designed so as to withstand extreme heat. The pilots were outfitted with

flame resistant suits. Such [ Select ] were designed to

protect the pilot in case of fire or explosion during flight, independent of

damage to other parts or functions of the plane.

Answer 1:

orrect answer a secondary preventive measure

https://kth.instructure.com/courses/16456/quizzes/9407 2/4
9/23/2019 Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Period 3- VT19

You Answered a primary preventive measure

Answer 2:

Correct! A safety factor

Answer 3:

You Answered inherent safety measures

orrect answer multiple safety barriers

Answer 4:

Correct! independent of

Question 4 0.75 / 1 pts

You are working for a start up company which provides customized

investment portfolios for its customers. In general, you want the portfolios to
be strong, with investments that have low standard deviation and high
expectation value . However, you also distinguish between customers willing
to take relatively large risks and customers who are more

[ Select ] , meaning that between two outcomes O1

and O2 which have the same expected utility, those customers will

[ Select ] . Some customers' actual behavior under risk

deviates from this theoretical model. In order to account for these deviations,
you utilize models of idealized rational behavior for further customization.

Answer 1:

Correct! low standard deviation and high expectation value

Answer 2:

Correct! risk averse

Answer 3:

Correct! prefer O1 over O2 if O1 is associated with lower risk than O2

Answer 4:

https://kth.instructure.com/courses/16456/quizzes/9407 3/4
9/23/2019 Reading Quiz: Philosophy of Risk: Theory and Methodology of Science - Period 3- VT19

orrect answer Prospect theory

You Answered models of idealized rational behavior

Quiz score: 1.25 out of 4

https://kth.instructure.com/courses/16456/quizzes/9407 4/4