Citation

Talas R, Menachof DA. Int. J. Risk Assess. Manage. 2009; 13(1): 46-59.

Copyright

(Copyright © 2009, Inderscience Publishers)

DOI

10.1504/IJRAM.2009.026389

PMID

unavailable

Abstract

Sea ports around the world have had to introduce new security measures in the wake of the introduction of the International Maritime Organisation's ISPS Code, but may have been unable to establish an efficient trade-off between cost and security. This paper introduces a conceptual model that uses the Markowitz (1952) theory of portfolio selection to describe the process that ports and port terminals can follow to ensure that efficient security investment decisions are made to reduce the exposure to terrorist and other unlawful activities.