A Timeline of the Risk Field: Bridging Fundamental Achievements and Modern Research

Abstract

An evolutionary, diverse, and complex path of the risk conceptualization has been built along with the history of mankind. The current understanding and the variety of methods available to deal with risk and uncertainty are linked to the achievements made by several academics and researchers in the past. However, very little of the risk analysis literature has attempt to explicitly bridge or recognize this fundamental construction for organizational and research purposes. This conceptual paper presents the results of a literature research in a timeline framework. The significant accomplishments that collaborated to the modern knowledge in the field of risk are organized in five distinct phases and their connections to modern research topics are discussed. The aim is to provide a condensed but comprehensive overview of the foundations and evolution of the risk field and link the different conceptual paths that currently exist in risk analysis research. The present paper contributes to a systemic view of the risk discipline, which we believe will be a helpful review from which academy and industry readers would benefit.