Search results for: rupture risk prediction

Authors: Fong-Woon Lai

Abstract:

The risk sphere in business is fast changing and expanding. Almost anything has become a risk factor that will have potent, direct, and far reaching impacts on business. This paper examines the intensity of enterprise risk management (ERM) practices among the Malaysian public listed companies. The paper espouses a ERM framework comprising fourteen important implementation elements and processes. Results of the analysis indicate that the intensity of ERM implementation among the respondents is in the ‘good’ category of the semantic scale, which is deemed encouraging vis-à-vis the country’s regulatory regime.

Keywords: Enterprise risk management, implementation framework, ERM practices.

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Authors: Nebi Gedik

Abstract:

Regardless of age or gender, cardiovascular illnesses are a serious health concern because of things like poor eating habits, stress, a sedentary lifestyle, hard work schedules, alcohol use, and weight. It tends to happen suddenly and has a high rate of recurrence. Machine learning models can be implemented to assist healthcare systems in the accurate detection and diagnosis of cardiovascular disease (CVD) in patients. Improved heart failure prediction is one of the primary goals of researchers using the heart disease dataset. The purpose of this study is to identify the feature or features that offer the best classification prediction for CVD detection. The support vector machine classifier is used to compare each feature's performance. It has been determined which feature produces the best results.

Keywords: Cardiovascular disease, feature extraction, supervised learning, support vector machine.

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Authors: Wei-hua Ai, Wei Yan, Xiang Li

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Data compression is used operationally to reduce bandwidth and storage requirements. An efficient method for achieving lossless weather radar data compression is presented. The characteristics of the data are taken into account and the optical linear prediction is used for the PPI images in the weather radar data in the proposed method. The next PPI image is identical to the current one and a dramatic reduction in source entropy is achieved by using the prediction algorithm. Some lossless compression methods are used to compress the predicted data. Experimental results show that for the weather radar data, the method proposed in this paper outperforms the other methods.

Keywords: Lossless compression, weather radar data, optical linear prediction, PPI image

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Authors: Preeda Sansakorn, Min An

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In order to be capable of dealing with uncertainties, subjectivities, including vagueness arising in building construction projects, the application of fuzzy reasoning technique based on fuzzy set theory is proposed. This study contributes significantly to the development of a fuzzy reasoning safety risk assessment model for building construction projects that could be employed to assess the risk magnitude of each hazardous event identified during construction, and a third parameter of probability of consequence is incorporated in the model. By using the proposed safety risk analysis methodology, more reliable and less ambiguities, which provide the safety risk management project team for decision-making purposes.

Keywords: Safety risks assessment, building construction safety, fuzzy reasoning, construction risk assessment model, building construction projects.

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Authors: A.Roshandel, N.Hedayat, H.kiamanesh

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The one of most important objects in implementation of damage analysis observations is manner of dam break wave propagation. In this paper velocity and wave height due dam break in with and without tailwater states for appointment hazardous lands and flood radius are investigate. In order to modeling above phenomenon finite volume method of Roe type for solving shallow water equations is used. Results indicated that in the dry bed state risk radius due to dam break is too high. While in the wet bed risk radius has a less wide. Therefore in the first state constructions and storage facilities are encountered with destruction risk. Further velocity due to dam break in the second state is more comparing to the first state. Hence erosion and scour the river bed in the dry bed is too more compare to the wet bed.

Keywords: Dam break, finite volume method, tailwater, risk radius, scour

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Authors: Jamalizadeh, M.R., Moghaddamnia, A., Piri, J., Arbabi, V., Homayounifar, M., Shahryari, A.

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Dust storms are one of the most costly and destructive events in many desert regions. They can cause massive damages both in natural environments and human lives. This paper is aimed at presenting a preliminary study on dust storms, as a major natural hazard in arid and semi-arid regions. As a case study, dust storm events occurred in Zabol city located in Sistan Region of Iran was analyzed to diagnose and predict dust storms. The identification and prediction of dust storm events could have significant impacts on damages reduction. Present models for this purpose are complicated and not appropriate for many areas with poor-data environments. The present study explores Gamma test for identifying inputs of ANNs model, for dust storm prediction. Results indicate that more attempts must be carried out concerning dust storms identification and segregate between various dust storm types.

Keywords: Dust Storm, Gamma Test, Prediction, ANNs, Zabol.

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Authors: Huei-Wen Lin

Abstract:

This paper is to clarify the relationship of individual investor types, risk tolerance and herding bias. The questionnaire survey investigation is conducted to collect 389 valid and voluntary individual investors and to examine how the risk tolerance plays as a mediator between four types of personality and herding bias. Based on featuring BB&K model and reviewing the prior literature of psychology, a linear structural model are constructed and further used to evaluate the path of herding formation through the analysis of Structural Equation Modeling (SEM). The results showed that more impetuous investors would be prone to herding bias directly, but rather exhibit higher risk tolerance. However, risk tolerance would fully mediate between the level of confidence (i.e., confident or anxious) and herding bias, but not mediate between the method of action (careful or impetuous) for individual investors.

Keywords: Herding, investor types, risk tolerance.

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Authors: Indra Budi, Rizal Fathoni Aji, Agus Widodo

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Prediction of future research topics by using time series analysis either statistical or machine learning has been conducted previously by several researchers. Several methods have been proposed to combine the forecasting results into single forecast. These methods use fixed combination of individual forecast to get the final forecast result. In this paper, quite different approach is employed to select the forecasting methods, in which every point to forecast is calculated by using the best methods used by similar validation dataset. The dataset used in the experiment is time series derived from research report in Garuda, which is an online sites belongs to the Ministry of Education in Indonesia, over the past 20 years. The experimental result demonstrates that the proposed method may perform better compared to the fix combination of predictors. In addition, based on the prediction result, we can forecast emerging research topics for the next few years.

Keywords: Combination, emerging topics, ensemble, forecasting, machine learning, prediction, research topics, similarity measure, time series.

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Authors: Youngseok Lee, Dongjin Chung, Youngjin Kim

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R&D risk management has been suggested as one of the management approaches for accomplishing the goals of public R&D investment. The investment in basic science and core technology development is the essential roles of government for securing the social base needed for continuous economic growth. And, it is also an important role of the science and technology policy sectors to generate a positive environment in which the outcomes of public R&D can be diffused in a stable fashion by controlling the uncertainties and risk factors in advance that may arise during the application of such achievements to society and industry. Various policies have already been implemented to manage uncertainties and variables that may have negative impact on accomplishing public R& investment goals. But we may derive new policy measures for complementing the existing policies and for exploring progress direction by analyzing them in a policy package from the viewpoint of R&D risk management.

Keywords: Risk management, Public R&D policy, Science andtechnology policy, Performance management.

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Authors: J. M. Owoyemi, O. S. Ogunrinde

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The suitability of Newsprint and Kraft papers for the production of cement bonded ceiling board was investigated. Sample boards were produced from newsprint paper (100%), mixture of newsprint and Kraft paper (50:50) and Kraft paper (100%) at 1:1, 2:1 and 3:1 cement/paper mixing ratio respectively with 3% additive concentration of calcium chloride (CaCl₂). Density, flexural and thickness swelling properties of the boards were investigated. The effects of paper type and mixing ratio on the physical and mechanical properties were also examined. The bending properties of the board which include Modulus of Elasticity (MOE) and Modulus of Rupture (MOR) increased linearly with increase in density. Modulus of rupture of boards increased as the density and mixing ratio increased. The thickness swelling property for the two paper types decreased as the board density and mixing ratio increased. Boards made from Kraft paper recorded higher strength values than the ones made from recycled newsprint paper while the mixture of kraft and newsprint papers had the best surface finish. The result of the study will help in managing the large quality of waste from paper converting/carton industry and that the ceiling boards produced could be installed with clout nails or used with suspended ceiling fittings.

Keywords: Cement, Kraft paper, Mixing ratio, Newsprint.

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Authors: Mitsuhiro Taniyama, Yuu Hidaka, Masato Arai, Satoshi Kai, Hiromi Igawa, Hiroshi Yajima, Ryoichi Sasaki

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Along with the progress of our information society, various risks are becoming increasingly common, causing multiple social problems. For this reason, risk communications for establishing consensus among stakeholders who have different priorities have become important. However, it is not always easy for the decision makers to agree on measures to reduce risks based on opposing concepts, such as security, privacy and cost. Therefore, we previously developed and proposed the “Multiple Risk Communicator" (MRC) with the following functions: (1) modeling the support role of the risk specialist, (2) an optimization engine, and (3) displaying the computed results. In this paper, MRC program version 1.0 is applied to the personal information leakage problem. The application process and validation of the results are discussed.

Keywords: Decision Making, Personal Information Leakage Problem, Risk Communication, Risk Management

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Authors: Brian A. Smith, Ronald W. McClendon, Gerrit Hoogenboom

Abstract:

The mitigation of crop loss due to damaging freezes requires accurate air temperature prediction models. Previous work established that the Ward-style artificial neural network (ANN) is a suitable tool for developing such models. The current research focused on developing ANN models with reduced average prediction error by increasing the number of distinct observations used in training, adding additional input terms that describe the date of an observation, increasing the duration of prior weather data included in each observation, and reexamining the number of hidden nodes used in the network. Models were created to predict air temperature at hourly intervals from one to 12 hours ahead. Each ANN model, consisting of a network architecture and set of associated parameters, was evaluated by instantiating and training 30 networks and calculating the mean absolute error (MAE) of the resulting networks for some set of input patterns. The inclusion of seasonal input terms, up to 24 hours of prior weather information, and a larger number of processing nodes were some of the improvements that reduced average prediction error compared to previous research across all horizons. For example, the four-hour MAE of 1.40°C was 0.20°C, or 12.5%, less than the previous model. Prediction MAEs eight and 12 hours ahead improved by 0.17°C and 0.16°C, respectively, improvements of 7.4% and 5.9% over the existing model at these horizons. Networks instantiating the same model but with different initial random weights often led to different prediction errors. These results strongly suggest that ANN model developers should consider instantiating and training multiple networks with different initial weights to establish preferred model parameters.

Keywords: Decision support systems, frost protection, fruit, time-series prediction, weather modeling

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Authors: Sadovska V.

Abstract:

The progress of concentrations of particular heavy metals was assessed in chosen localities in region Moravia, the Czech Republic, from 2007 to 2009. Particular metals were observed in localities with various types and characterization of zone. Pb, Ni, As and Cd were emphasized as a result of their toxicity and potential adverse health effect to the exposed population. The progress of metal concentrations and their health effects in the most polluted localities were examined. According to the results, the air pollution limit values were not exceeded. Based on the health risk assessment, the probability of developing tumorous diseases is acceptable, except for the increased probability of cancer risk from long-term exposure to As.

Keywords: Air pollution, heavy metals, health risk assessment, individual lifetime cancer risk

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Authors: Chang Su Woo, Hyun Sung Park

Abstract:

Useful lifetime evaluation of railpads were very important in design procedure to assure the safety and reliability. It is, therefore, necessary to establish a suitable criterion for the replacement period of rail pads. In this study, we performed properties and accelerated heat aging tests of rail pads considering degradation factors and all environmental conditions including operation, and then derived a lifetime prediction equation according to changes in hardness, thickness, and static spring constants in the Arrhenius plot to establish how to estimate the aging of rail pads. With the useful lifetime prediction equation, the lifetime of e-clip pads was 2.5 years when the change in hardness was 10% at 25°C; and that of f-clip pads was 1.7 years. When the change in thickness was 10%, the lifetime of e-clip pads and f-clip pads is 2.6 years respectively. The results obtained in this study to estimate the useful lifetime of rail pads for high speed trains can be used for determining the maintenance and replacement schedule for rail pads.

Keywords: Rail pads, accelerated test, Arrhenius plot, useful lifetime prediction.

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Authors: S. Wiriyarattanakun, A. Ruengsiriwatanakun, S. Noimanee

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The drainage Estimating is an important factor in dam management. In this paper, we use fuzzy support vector regression (FSVR) to predict the drainage of the Sirikrit Dam at Uttaradit province, Thailand. The results show that the FSVR is a suitable method in drainage estimating.

Keywords: Drainage Estimation, Prediction.

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Authors: Anne-Lena Kampen, Øivind Kure

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Machine learning (ML) can be implemented in Wireless Sensor Networks (WSNs) as a central solution or distributed solution where the ML is embedded in the nodes. Embedding improves privacy and may reduce prediction delay. In addition, the number of transmissions is reduced. However, quality factors such as prediction accuracy, fault detection efficiency and coordinated control of the overall system suffer. Here, we discuss and highlight the trade-offs that should be considered when choosing between embedding and centralized ML, especially for multihop networks. In addition, we present estimations that demonstrate the energy trade-offs between embedded and centralized ML. Although the total network energy consumption is lower with central prediction, it makes the network more prone for partitioning due to the high forwarding load on the one-hop nodes. Moreover, the continuous improvements in the number of operations per joule for embedded devices will move the energy balance toward embedded prediction.

Keywords: Central ML, embedded machine learning, energy consumption, local ML, Wireless Sensor Networks, WSN.

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Authors: Parvinder S. Sandhu, Sandeep Khimta, Kiranpreet Kaur

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The prediction of Software quality during development life cycle of software project helps the development organization to make efficient use of available resource to produce the product of highest quality. “Whether a module is faulty or not" approach can be used to predict quality of a software module. There are numbers of software quality prediction models described in the literature based upon genetic algorithms, artificial neural network and other data mining algorithms. One of the promising aspects for quality prediction is based on clustering techniques. Most quality prediction models that are based on clustering techniques make use of K-means, Mixture-of-Guassians, Self-Organizing Map, Neural Gas and fuzzy K-means algorithm for prediction. In all these techniques a predefined structure is required that is number of neurons or clusters should be known before we start clustering process. But in case of Growing Neural Gas there is no need of predetermining the quantity of neurons and the topology of the structure to be used and it starts with a minimal neurons structure that is incremented during training until it reaches a maximum number user defined limits for clusters. Hence, in this work we have used Growing Neural Gas as underlying cluster algorithm that produces the initial set of labeled cluster from training data set and thereafter this set of clusters is used to predict the quality of test data set of software modules. The best testing results shows 80% accuracy in evaluating the quality of software modules. Hence, the proposed technique can be used by programmers in evaluating the quality of modules during software development.

Keywords: Growing Neural Gas, data clustering, fault prediction.

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Authors: Edwaldo R. B. Monteiro, Patricia D. M. Plentz, Edson R. De Pieri

Abstract:

Mobile robotics is gaining an increasingly important role in modern society. Several potentially dangerous or laborious tasks for human are assigned to mobile robots, which are increasingly capable. Many of these tasks need to be performed within a specified period, i.e, meet a deadline. Missing the deadline can result in financial and/or material losses. Mechanisms for predicting the missing of deadlines are fundamental because corrective actions can be taken to avoid or minimize the losses resulting from missing the deadline. In this work we propose a simple but reliable deadline missing prediction mechanism for mobile robots through the use of historical data and we use the Pioneer 3-DX robot for experiments and simulations, one of the most popular robots in academia.

Keywords: Deadline missing, historical data, mobile robots, prediction mechanism.

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Authors: Mária Hudáková, Mária Lusková

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This report is focused on widening the theoretical knowledge as well as controlling practical application from the risk management point of view, regarding to dynamic business changes that have occurred in Slovakia which recently has been considered to be an environment full of risk and uncertainty. The idea of the report is the proposal of the controlling operation model in the course of risk management process in an enterprise operating in Slovakia, by which the controller is able to identify early risk factors in suggested major areas of the business management upon appropriate business information integration, consecutive control and prognoses and to prepare in time full-value documents in order to suggest measures for reduction thereof. Dealing with risk factors, that can quickly limit the growth potential of the enterprise, is an essential part of managerial activities on each level. This is the reason why mutual unofficial, ergo collegial cooperation of individual departments is necessary for controlling application from the business risk management point of view. An important part of the report is elaborated survey of the most important risk factors existing in major management areas of enterprises operating in Slovakia. The outcome of the performed survey is a catalogue of the most important enterprise risk factors. The catalogue serves for better understanding risk factors affecting the Slovak enterprises, their importance and evaluation.

Keywords: Controlling, information system, risks management, risk factor, crisis of enterprise.

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Authors: Jiakai Li, Gursel Serpen, Steven Selman, Matt Franchetti, Mike Riesen, Cynthia Schneider

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This paper presents the development of a Bayesian belief network classifier for prediction of graft status and survival period in renal transplantation using the patient profile information prior to the transplantation. The objective was to explore feasibility of developing a decision making tool for identifying the most suitable recipient among the candidate pool members. The dataset was compiled from the University of Toledo Medical Center Hospital patients as reported to the United Network Organ Sharing, and had 1228 patient records for the period covering 1987 through 2009. The Bayes net classifiers were developed using the Weka machine learning software workbench. Two separate classifiers were induced from the data set, one to predict the status of the graft as either failed or living, and a second classifier to predict the graft survival period. The classifier for graft status prediction performed very well with a prediction accuracy of 97.8% and true positive values of 0.967 and 0.988 for the living and failed classes, respectively. The second classifier to predict the graft survival period yielded a prediction accuracy of 68.2% and a true positive rate of 0.85 for the class representing those instances with kidneys failing during the first year following transplantation. Simulation results indicated that it is feasible to develop a successful Bayesian belief network classifier for prediction of graft status, but not the graft survival period, using the information in UNOS database.

Keywords: Bayesian network classifier, renal transplantation, graft survival period, United Network for Organ Sharing

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Authors: P. Moeinzadeh, A. Hajfathaliha

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Many firms implemented various initiatives such as outsourced manufacturing which could make a supply chain (SC) more vulnerable to various types of disruptions. So managing risk has become a critical component of SC management. Different types of SC vulnerability management methodologies have been proposed for managing SC risk, most offer only point-based solutions that deal with a limited set of risks. This research aims to reinforce SC risk management by proposing an integrated approach. SC risks are identified and a risk index classification structure is created. Then we develop a SC risk assessment approach based on the analytic network process (ANP) and the VIKOR methods under the fuzzy environment where the vagueness and subjectivity are handled with linguistic terms parameterized by triangular fuzzy numbers. By using FANP, risks weights are calculated and then inserted to the FVIKOR to rank the SC members and find the most risky partner.

Keywords: Analytic network process (ANP), Fuzzy sets, Supply chain risk management (SCRM), VIšekriterijumsko KOmpromisno Rangiranje (VIKOR)

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Authors: Hossein Amoozad Khalili, Anahita Maleki

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Normally business changes are made in order to change a level of activity in some way, whether it is sales, cash flow, productivity, or product portfolio. When attempts are made to make such changes, too often the business reverts to the old levels of activity as soon as management attention is diverted. Risk management is a field of growing interest to project managers as well as in general business and organizational management. There are several approaches used to manage risk in projects and this paper is a brief outline of some that you might encounter, with an indication of their strengths and weaknesses.

Keywords: Risk Management, Project Management, Scheduling, Planning

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Authors: Joseph C. Chen, Venkata Mohan Kudapa

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Development of two real-time surface roughness (Ra) prediction systems for milling operations was attempted. The systems used not only cutting parameters, such as feed rate and spindle speed, but also the cutting current generated and corrected by a clamp type energy sensor. Two different approaches were developed. First, a fuzzy inference system (FIS), in which the fuzzy logic rules are generated by experts in the milling processes, was used to conduct prediction modeling using current cutting data. Second, a neuro-fuzzy system (ANFIS) was explored. Neuro-fuzzy systems are adaptive techniques in which data are collected on the network, processed, and rules are generated by the system. The inference system then uses these rules to predict Ra as the output. Experimental results showed that the parameters of spindle speed, feed rate, depth of cut, and input current variation could predict Ra. These two systems enable the prediction of Ra during the milling operation with an average of 91.83% and 94.48% accuracy by FIS and ANFIS systems, respectively. Statistically, the ANFIS system provided better prediction accuracy than that of the FIS system.

Keywords: Surface roughness, input current, fuzzy logic, neuro-fuzzy, milling operations.

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Authors: Sandija Zeverte-Rivza, Irina Pilvere, Baiba Rivza

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The use of renewable energy sources incl. biogas has become topical in accordance with the increasing demand for energy, decrease of fossil energy resources and the efforts to reduce greenhouse gas emissions as well as to increase energy independence from the territories where fossil energy resources are available.

As the technologies of biogas production from agricultural biomass develop, risk assessment and risk management become necessary for farms producing such a renewable energy. The need for risk assessments has become particularly topical when discussions on changing the biogas policy in the EU take place, which may influence the development of the sector in the future, as well as the operation of existing biogas facilities and their income level.

The current article describes results of the risk assessment for farms producing biomass from agriculture biomass in Latvia, the risk assessment system included 24 risks, that affect the whole biogas production process and the obtained results showed the high significance of political and production risks.

Keywords: Biogas production, risks, risk assessment.

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Authors: Jeff Clarine, Chang-Shyh Peng, Daisy Sang

Abstract:

Bioassay is the measurement of the potency of a chemical substance by its effect on a living animal or plant tissue. Bioassay data and chemical structures from pharmacokinetic and drug metabolism screening are mined from and housed in multiple databases. Bioassay prediction is calculated accordingly to determine further advancement. This paper proposes a four-step preprocessing of datasets for improving the bioassay predictions. The first step is instance selection in which dataset is categorized into training, testing, and validation sets. The second step is discretization that partitions the data in consideration of accuracy vs. precision. The third step is normalization where data are normalized between 0 and 1 for subsequent machine learning processing. The fourth step is feature selection where key chemical properties and attributes are generated. The streamlined results are then analyzed for the prediction of effectiveness by various machine learning algorithms including Pipeline Pilot, R, Weka, and Excel. Experiments and evaluations reveal the effectiveness of various combination of preprocessing steps and machine learning algorithms in more consistent and accurate prediction.

Keywords: Bioassay, machine learning, preprocessing, virtual screen.

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Authors: Mansoureh Naderipour, Susan Bastani, Mohammad Fazel Zarandi

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Predicting links that may occur in the future and missing links in social networks is an attractive problem in social network analysis. Granular computing can help us to model the relationships between human-based system and social sciences in this field. In this paper, we present a model based on granular computing approach and Type-2 fuzzy logic to predict links regarding nodes’ activity and the relationship between two nodes. Our model is tested on collaboration networks. It is found that the accuracy of prediction is significantly higher than the Type-1 fuzzy and crisp approach.

Keywords: Social Network, link prediction, granular computing, Type-2 fuzzy sets.

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Authors: R. Berglund, T. Backström, M. Bellgran

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This study explores how management addresses psychosocial risks in seven teams of engineers and technicians in the midst of the fourth industrial revolution. The sample is from an ongoing quasi-experiment about psychosocial risk management in a manufacturing company in Sweden. Each of the seven teams belongs to one of two clusters: a positive cluster or a negative cluster. The positive cluster reports a significantly positive change in psychosocial risk levels between two time-points and the negative cluster reports a significantly negative change. The data are collected using semi-structured interviews. The results of the computer aided thematic analysis show that there are more differences than similarities when comparing the risk treatment actions taken between the two clusters. Findings show that the managers in the positive cluster use more enabling actions that foster and support formal and informal relationship building. In contrast, managers that use less enabling actions hinder the development of positive group processes and contribute negative changes in psychosocial risk levels. This exploratory study sheds some light on how management can influence significant positive and negative changes in psychosocial risk levels during a risk management process.

Keywords: Group process model, risk treatment, risk management, psychosocial.

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Authors: M. Balestrieri, C. Pusceddu

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Issues relating to the destructive phenomena that can damage people and goods have returned to the centre of debate in Italy with the increase in catastrophic episodes in recent years in a country which is highly vulnerable to hydrological risk. Environmental factors and geological and geomorphological territorial characteristics play an important role in determining the level of vulnerability and the natural tendency to risk. However, a territory has also been subjected to the requirements of and transformations of society and this brings other relevant factors. The reasons for the increase in destructive phenomena are often to be found in the territorial development models adopted. Stewardship of the landscape and management of risk are related issues. This study aims to summarize the most relevant elements about this connection and at the same time to clarify the role of environmental risk assessment as a tool to aid in the sustainable management of landscape. Finally, the study reflects on how regional and urban planners deal with environmental risk and which aspects should be monitored in order to adopt responsible and useful interventions.

Keywords: Assessment, landscape, risk, planning.

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Authors: Myung Jin Kim, Hyun Bae Jin, Wui Jun Chung

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In this study, to accurately predict cavitation of a centrifugal pump, numerical analysis was compared with experimental results modeled on a small industrial centrifugal pump. In this study, numerical analysis was compared with experimental results modeled on a small industrial centrifugal pump for reliable prediction on cavitation of a centrifugal pump. To improve validity of the numerical analysis, transient analysis was conducted on the calculated domain of full-type geometry, such as an experimental apparatus. The numerical analysis from the results was considered to be a reliable prediction of cavitaion.

Keywords: Centrifugal Pump, Cavitation, NPSH, CFD.

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Authors: Chvalkovska, J., Jansky, P., Mejstrik, M.

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The objective of this article is to discuss the potential of economic analysis as a tool for identification and evaluation of corruption in legislative acts. We propose that corruption be perceived as a risk variable within the legislative process. Therefore we find it appropriate to employ risk analysis methods, used in various fields of economics, for the evaluation of corruption in legislation. Furthermore we propose the incorporation of these methods into the so called corruption impact assessment (CIA), the general framework for detection of corruption in legislative acts. The applications of the risk analysis methods are demonstrated on examples of implementation of proposed CIA in the Czech Republic.

Keywords: corruption; corruption impact assessment (CIA); legislative; legislative process; risk analysis; Czech Republic

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