Basic Measures of Risk of Misinforming

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Copyright: 2024
Pages: 18
Source title: Quantitative Measures and Warranty Coverage of the Risk of Misinforming
Source Author(s)/Editor(s): Dimitar Grozdanov Christozov (American University in Bulgaria, Bulgaria)
DOI: 10.4018/978-1-6684-8800-3.ch007

Keywords: Communications Theory / Information Science Reference / Information Value & Quality / Library & Information Science

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Abstract

This chapter introduces the adopted approach in modeling likelihood and impact of the risk of misinformation. The approach presented here is explored throughout the book and it serves as a foundation to all models developed further. This chapter introduces the variables and parameters in developing a probabilistic model regarding the risk of wrong purchase decision. It defines the parameters that need evaluation in a way to measure the risk of misinformation and proposes a way to collect data. In comparison with the initial model described in the first chapter, the properties of the parameters are extended substantially.

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