NDLI: Ascertaining the Financial Loss from Non-dependable Events in Business Interactions by Using the Monte Carlo Method

Content Provider	IEEE Xplore Digital Library
Author	Hussain, O. Dillon, T.
Copyright Year	2009
Abstract	Risk Assessment in business interactions is carried out to determine beforehand the occurrence of undesirable events and their associated consequences. In the literature, approaches have been proposed by which an interaction initiating agent can ascertain the occurrence of undesirable event/s and determine their consequences in an interaction. But those approaches just consider those events that are related to the performance of the other agent, with whom the interaction initiating agent is forming an interaction. It is possible that there may also be such events that are not dependent on the other agent's performance, but will directly or indirectly have an impact on the successful completion of the business interaction. In this paper, we will highlight the importance of considering such event/s during the process of risk assessment, and propose a methodology by which the interaction initiating agent can determine and quantify their effect on the successful completion of its business interaction.
Starting Page	406
Ending Page	411
File Size	363612
Page Count	6
File Format	PDF
ISBN	9781424435722
DOI	10.1109/ARES.2009.136
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-03-16
Publisher Place	Japan
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Availability risk assessment Uncertainty Decision making Ecosystems Risk analysis Security Cost benefit analysis uncertainty non-dependable events dependable events Performance analysis Risk management Australia financial risk
Content Type	Text
Resource Type	Article

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