Speculative risks

What is the primary difference between a speculative risk and a pure risk for an individual ... 

The point is, a risk assessment is a snapshot in a time frame subject to an expanding data base and advances in scientific methodology, theory, and insight. Experienced Judgment is a necessary component to target resources and to articulate priorities against the indiscriminate background of speculative risks. 

Taking a business risk, a speculative risk, offers the possibility of gain or loss. That implies a meaning of risk different from that to which the practice of safety applies. Risks with which safety professionals are involved can only have adverse outcomes. 

Pure risks can only result in a loss to the organisation, whereas with speculative risks, either gain or loss may result. 

An example of a speculative - or dynamic - risk concerns commodity purchasing. A company - speculating to accumulate - buys in quantities of a key raw material at price fx/tonne, as the price is favourable, hoping that a cost saving will be made, as the price is likely to increase in the future. The speculative risk may result in gain or loss, as the price of the raw material... 

It should be borne in mind that the division between pure and speculative risks is not absolute. For example, the speculative risk of operating a machine without an adequate guard has a number of pure risks associated with it - injury death prohibition notices prosecution fines loss of profit etc. 

The decision regarding outsourcing is related to speculative risk. The decision-making process should be supported by risk assessment, both before and during cooperation. At this point, companies use qualitative (28%) and quantitative analyses (25%), which are indisputably methods used for risk analysis. What is alarming is that the assessment of the... 

Arriving at a definition of risk applicable to the practice of safety that could be used convincingly in discussions with decision makers was not easy. Risk is a word that has too many meanings. Executives with whom safety professionals deal may hear the word used in several contexts in a given day. Taking a business risk, a speculative risk, offers... 

There are two major types of risk pure risks and speculative risks. Pure risks only offer the prospect of loss and speculative risks offer both a chance of gain, or loss. A speculative risk could be the purchasing of stock or investing money in real estate, etc. 

The minimisation of the adverse effects of pure and speculative risks... 

Diets high in red meat and low in green vegetables have been associated with increased colon cancer risk and the opposite has been postulated for diets rich in green vegetables. A plausible explanation for an increased colon cancer risk is that dietary haem is metabolized in the gut to a factor that increases colonic cytotoxicity and hyperproliferation, which are considered important risk factors in the development of cancer. In this sense, it has been shown that spinach and isolated natural chlorophyll, but not sodium-copper chlorophyUin, prevented the proliferation of colonic cells and may therefore reduce colon cancer risk. It has been speculated that haem and chlorophylls, due to their hydrophobicity, form a complex, thus preventing the metabolism of haem. ... 

The risk of developing colonic cancer is raised in UC, particularly in those with long-standing extensive disease (Lennard-Jones et al., 1990). The mechanism of this increased susceptibility is unknown, although it is tempting to speculate that it is related to inflammation and resulting oxidative damage to DNA. As yet there is little evidence to support this contention. Markowitz et al. (1988) have reported a decrease in constituent and oxidant-induced adenosine diphosphate ribosyl... 

Colorectal cancer is a well-established complication of ulcerative colitis (Lennard-Jones era/., 1990 Ekbom et al., 1990). It has been shown that inflammation enhances the formation of colonic tumours in experimental animals given known carcint ens (Chester etal., 1986) and it is tempting to speculate that the longterm inflammatory response is respronsible for the increased risk of malignancy in ulcerative colitis. However, there is very little direct evidence to support this. It has also been postulated that free radicals may play a part in the development of sporadic cancers (Babbs,... 

RA affects approximately 1% of the United States population and 1% to 2% of the world s population.1,2 RA arises from an immunologic reaction, and there is speculation that it is in response to a genetic or infectious antigen. Risk factors associated with the development of RA include ... 

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