absolute risk

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absolute risk

Probability that a specified event will occur in a specified population, in contrast to the relative risk of the event.

Absolute Risk

The observed or calculated probability of the occurrence of an event, X—e.g., toxic exposure, infection, etc.—in a population relative to its exposure to a specific hazard or pathogen. Absolute risk is risk stated without any context whatsoever.
Example 172,570 people in America were diagnosed with lung cancer in 2005, a year in which there were approximately 290,000,000 Americans, yielding an absolute risk of 1:1,680 of being diagnosed with lung cancer. Adding context—e.g., age, smoking history, industrial exposure, etc.—is used to define a person’s relative risk of suffering a particular condition.

absolute risk

Epidemiology The observed or calculated probability of occurrence of an event, X, in a population related to exposure to a specific hazard, infection, trauma; the number of persons suffering from a disease when the exposed population is known with certainty. Cf Relative risk.
References in periodicals archive ?
In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE.
These are just some of the examples of pure risk management that should be studied and implemented by African governments.
Pure risk is the risk of property losses (fire, theft, hurricane) or liability losses.
A number of years ago most insurers stopped marketing their so-called universal products and replaced them with pure risk products and if one wanted to have an investment then that is a separate policy or policy component.
In pure risk no possibility of gain is presented, only the potential for loss.
Emphasize risk-taking for value creation rather than pure risk avoidance.
Nonlife insurance companies determine premiums for their insurance policies based on reference loss cost rates or advisory pure risk premium rates calculated by the organization.
Risks can be divided into basically two types: pure risk and speculative risk.
Young and Tippins also introduce the novice to the movement by some risk managers to expand the role of the function beyond the pure risk focus.
This approach certainly seems reasonable, but the focus on the pure risk to the individual ignores an important feature of many of the Superfund sites.
But there is another type of risk that is avoidable: pure risk.