Towards a transdisciplinary approach to systemic risk detection

Towards a transdisciplinary approach to systemic risk detection

Wever, Mark (AgResearch, Lincoln)
Wognum, Nel (TU Delft Air Transport & Operations)
Shah, Munir (AgResearch, Lincoln)
O'Leary, Niall (Cork Institute of Technology)
Onofrei, George (Letterkenny Institute of Technology)

Newnes, Linda (editor)
Lattanzio, Susan (editor)
Moser, Bryan R. (editor)
Moser, Bryan R. (editor)
Josip, Stjepandic (editor)
Wognum, Nel (editor)

2021

Systemic risks are potentially harmful events, that could severely disrupt an entire industry or economy. Examples include the bankruptcy of keystone companies and biosecurity incursions. According to the United Nations, detecting and managing systemic risk represents one of the main challenges of the 21st century. Due to increasing complexity and interconnectedness of today's social-technological-biophysical systems, stakeholders relying on individual disciplines to systemic risk detection, or a combination of disciplines that are not well coordinated, will fail to promptly identify key early warning signals of threats. Our paper argues that transdisciplinary approaches are required to make comprehensive and integrative assessments of complex systems. To support stakeholders undertaking such assessments, we propose a framework that will assist them in: (1) better understanding their system and the risks to which it is exposed; (2) selecting complementary disciplines, theories and methods that are relevant to the system and risks in question; and (3) integrating knowledge from these different disciplines to detect a wide range of early warning signals of systemic risk. The framework can be used as a foundation to build transdisciplinary approaches to risk detection.

Early warning systems
Risk detection
Systemic risk
Transdisciplinary

http://resolver.tudelft.nl/uuid:a25715d5-f301-4027-9e6e-ec59cef1c73f

https://doi.org/10.3233/ATDE210076

IOS Press

9781643682082

Transdisciplinary Engineering for Resilience: Responding to System Disruptions - Proceedings of the 28th ISTE International Conference on Transdisciplinary Engineering

28th ISTE International Conference on Transdisciplinary Engineering, TE 2021, 2021-07-05 → 2021-07-09, Virtual, Online, United Kingdom

Advances in Transdisciplinary Engineering, 2352-751X, 16

Institutional Repository

conference paper

© 2021 Mark Wever, Nel Wognum, Munir Shah, Niall O'Leary, George Onofrei