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Journal of Transportation Security

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01-12-2009

The acceptability of maritime security risk

Authors: George Psarros, Rolf Skjong, Magnus S. Eide

Published in: Journal of Transportation Security | Issue 4/2009

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Abstract

The cost-effectiveness of security measures is of paramount importance to how society’s resources are spent to protect against a range of possible future threats. Resources are limited and the challenge arises when deciding where to invest scarce resources in order to maximise benefits. In this respect, a criterion of averting a fatality is proposed for evaluating the effectiveness of maritime regulations concerning security issues. This criterion is derived in the same context as the one used when adopting safety regulations for the maritime industry. It is demonstrated that such kind of a decision criterion can be proposed with a value of $6 million.

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Title: The acceptability of maritime security risk
Authors: George Psarros
Rolf Skjong
Magnus S. Eide
Publication date: 01-12-2009
Publisher: Springer US
Published in: Journal of Transportation Security / Issue 4/2009
Print ISSN: 1938-7741
Electronic ISSN: 1938-775X
DOI: https://doi.org/10.1007/s12198-009-0033-4