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For nearly 20 years, the World Economic Forum (WEF) has annually issued a global risk report pointing to the most severe risks the world is facing. To evaluate the risks, leaders and experts are questioned and average scores communicated. The present paper is concerned about the risk science methodology used for producing these reports. The paper makes a thorough investigation of the approaches and methods used to characterize the risks, with a main focus on the 2024 report. The paper shows that there are several problematic issues, leading to mischaracterizations of the risks. Ways to improve on these issues are suggested.
Terje Aven (Tue,) studied this question.