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ISSN 2063-5346
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Network-Based Cooperative Risk Analysis of a biodiesel manufacturing plant

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Niharika kakoty, Mintu saikia
» doi: 10.48047/ecb/2023.12.si8.127

Abstract

The main objective of this research paper is to introduce a novel framework that applies cooperative game theory to risk analysis, taking advantage of the underlying network structure. Probabilistic risk analysis (PRA) is a widely utilized methodology for evaluating and assessing risks associated with real-world network configurations. While previous studies have focused on PRA from a physical engineering perspective, there is a growing recognition of the significant role played by human behavior in risk estimation through PRA, prompting the integration of PRA and game theory. However, the existing literature has predominantly concentrated on non-cooperative game theory, neglecting scenarios where cooperative structures, such as those prevalent in a biodiesel manufacturing plant. To address this gap, our study proposes a risk analysis approach that leverages cooperative game theory, with a specific emphasis on utilizing marginalism. By incorporating cooperative game theory into the risk analysis process, we aim to provide a more comprehensive assessment that takes into account cooperative structures and their associated risks.

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