Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method
Risk Assessment in business interactions is carried out to determine beforehand the occurrence ofundesirable events and their associated consequences. In the literature, various approaches have beenproposed by which an interaction initiating agent can ascertain the occurrence of undesirable event/s...
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| Format: | Conference Paper |
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IEEE Computer Society
2009
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| Online Access: | http://doi.ieeecomputersociety.org/10.1109/ARES.2009.136 http://hdl.handle.net/20.500.11937/9172 |
| _version_ | 1848745873346920448 |
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| author | Hussain, Omar Dillon, Tharam S. |
| author2 | Makoto Takizawa |
| author_facet | Makoto Takizawa Hussain, Omar Dillon, Tharam S. |
| author_sort | Hussain, Omar |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Risk Assessment in business interactions is carried out to determine beforehand the occurrence ofundesirable events and their associated consequences. In the literature, various approaches have beenproposed by which an interaction initiating agent can ascertain the occurrence of undesirable event/s and determine their consequences in an interaction. But all of those approaches just consider those events that are related on the performance of the other agent, with whom the interaction initiating agent is forming an interaction with. It is possible that there are also such events that are not dependant on the other agent?s performance, but will directly or in-directly have an impact on the successful completion of the 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. |
| first_indexed | 2025-11-14T06:24:16Z |
| format | Conference Paper |
| id | curtin-20.500.11937-9172 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T06:24:16Z |
| publishDate | 2009 |
| publisher | IEEE Computer Society |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-91722022-12-09T05:23:40Z Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method Hussain, Omar Dillon, Tharam S. Makoto Takizawa A Min Tjoa non-dependable events financial risk risk assessment dependable events uncertainty Risk Assessment in business interactions is carried out to determine beforehand the occurrence ofundesirable events and their associated consequences. In the literature, various approaches have beenproposed by which an interaction initiating agent can ascertain the occurrence of undesirable event/s and determine their consequences in an interaction. But all of those approaches just consider those events that are related on the performance of the other agent, with whom the interaction initiating agent is forming an interaction with. It is possible that there are also such events that are not dependant on the other agent?s performance, but will directly or in-directly have an impact on the successful completion of the 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. 2009 Conference Paper http://hdl.handle.net/20.500.11937/9172 http://doi.ieeecomputersociety.org/10.1109/ARES.2009.136 IEEE Computer Society fulltext |
| spellingShingle | non-dependable events financial risk risk assessment dependable events uncertainty Hussain, Omar Dillon, Tharam S. Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method |
| title | Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method |
| title_full | Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method |
| title_fullStr | Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method |
| title_full_unstemmed | Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method |
| title_short | Ascertaining the financial loss from non-dependable events in business interactions by using the Monte Carlo method |
| title_sort | ascertaining the financial loss from non-dependable events in business interactions by using the monte carlo method |
| topic | non-dependable events financial risk risk assessment dependable events uncertainty |
| url | http://doi.ieeecomputersociety.org/10.1109/ARES.2009.136 http://hdl.handle.net/20.500.11937/9172 |