Are We Missing the Target? A Bias-Variance Perspective on Multi-Hazard Risk Assessment

Are We Missing the Target? A Bias-Variance Perspective on Multi-Hazard Risk Assessment

Blog Article

This paper presents a generalization of the bias-variance tradeoff applied to the recent trend toward natural multi-hazard risk Reporting assessment.The bias-variance dilemma, a well-known machine learning theory, is presented in the context of natural hazard modeling.It is then argued that the bias-variance statistical concept Hangers can provide an analytical framework for the necessity to direct efforts toward systemic risk assessment using multi-hazard catastrophe modeling and inform future mitigation practices.