Risk: Its Priority and Probability, The Analytic Hierarchy Process

Thomas Saaty
Joseph M. Katz Graduate School of Business
University of Pittsburgh
United States

Publication date: Jan, 1987

Journal: Risk Analysis
Vol.: 7- Issue: 2- Pages: 159-172

Abstract: Risk estimation involves priorities and probabilities which are themselves a form of priority of natural alternatives. This paper provides illustrations of how one can deal with risk and uncertainty using the Analytic Hierarchy Process, a new approach to measurement by ratio scales. The paper also includes a discussion of how to deal with risk strategies involving interdependence. Particular emphasis is made on the siting of nuclear power plants.

Keywords: Risk estimation, Analytic Hierarchy Process, AHP, Uncertainty