ABSTRACT

Might philosophy help to manage risk? The answer to this question is reassuringly short: yes. But the reasons for this affirmative are dauntingly long. A partial presentation of these reasons occupies Chapter 6. The chapter undertakes a preliminary clarification of the nature of risk. It then endorses desiderata for an approach to risk management adapted to an obdurate fact: many decisions about risk must be made without the benefit of probabilistic risk assessment. In light of these desiderata, the chapter proposes a form of risk management that can be used despite a dearth of probabilistic information. However, any form of risk management must face a challenging meta-question: can it deal with second-order uncertainty? The chapter responds to this question. It then shows that the proposed form of risk management satisfies the desiderata specified at the outset.