TY - JOUR
T1 - Domino effects within a chemical cluster
T2 - A game-theoretical modeling approach by using Nash-equilibrium
AU - Reniers, Genserik
AU - Dullaert, Wout
AU - Karel, Soudan
PY - 2009/8/15
Y1 - 2009/8/15
N2 - Every company situated within a chemical cluster faces domino effect risks, whose magnitude depends on every company's own risk management strategies and on those of all others. Preventing domino effects is therefore very important to avoid catastrophes in the chemical process industry. Given that chemical companies are interlinked by domino effect accident links, there is some likelihood that even if certain companies fully invest in domino effects prevention measures, they can nonetheless experience an external domino effect caused by an accident which occurred in another chemical enterprise of the cluster. In this article a game-theoretic approach to interpret and model behaviour of chemical plants within chemical clusters while negotiating and deciding on domino effects prevention investments is employed.
AB - Every company situated within a chemical cluster faces domino effect risks, whose magnitude depends on every company's own risk management strategies and on those of all others. Preventing domino effects is therefore very important to avoid catastrophes in the chemical process industry. Given that chemical companies are interlinked by domino effect accident links, there is some likelihood that even if certain companies fully invest in domino effects prevention measures, they can nonetheless experience an external domino effect caused by an accident which occurred in another chemical enterprise of the cluster. In this article a game-theoretic approach to interpret and model behaviour of chemical plants within chemical clusters while negotiating and deciding on domino effects prevention investments is employed.
KW - Domino effects prevention
KW - Game theory
KW - Nash equilibrium
UR - http://www.scopus.com/inward/record.url?scp=66149187960&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=66149187960&partnerID=8YFLogxK
U2 - 10.1016/j.jhazmat.2008.12.113
DO - 10.1016/j.jhazmat.2008.12.113
M3 - Article
C2 - 19193489
AN - SCOPUS:66149187960
SN - 0304-3894
VL - 167
SP - 289
EP - 293
JO - Journal of Hazardous Materials
JF - Journal of Hazardous Materials
IS - 1-3
ER -