Reports on Risk Management from RWTH Aachen University Provide New Insights (Theory of Systemic Risks: Insights from Physics and Chemistry)

2020 JUL 28 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Current study results on Risk Management have been published. According to news originating from Aachen, Germany, by NewsRx editors, the research stated, “Systemic risks, as opposed to conventional risks, bear the danger of destroying entire systems. Their understanding and governance remain a serious challenge.”

Our news journalists obtained a quote from the research from RWTH Aachen University, “The phenomena of systemic risks show many analogies with those of dynamic structure generation in the systems of nature, technology, and society, including simple model systems of physics and chemistry. By analyzing these model systems, the elementary processes and the generic mechanisms by which they generate macroscopic dynamic structures become evident. Generalizing these insights makes it possible to formulate the basic framework of a theory of systemic risks with elements providing hints for adequate governance strategies.”

According to the news editors, the research concluded: “Although these insights cannot be applied to societal processes one by one, they reveal generic patterns and clusters.”

For more information on this research see: Theory of Systemic Risks: Insights from Physics and Chemistry. Risk Analysis, 2020;():. Risk Analysis can be contacted at: Blackwell Publishing Inc, 350 Main St, Malden, MA 02148, USA. (Wiley-Blackwell - http://www.wiley.com/; Risk Analysis - http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1539-6924)

The news correspondents report that additional information may be obtained from Klaus Lucas, Institute of Technical Thermodynamics, RWTH Aachen University, Schinkelstraße 8, Aachen, Germany.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1111/risa.13558. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

The publisher’s contact information for the journal Risk Analysis is: Blackwell Publishing Inc, 350 Main St, Malden, MA 02148, USA.

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