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This report discusses the need for linking risk assessment, risk perception, and risk management in order to develop meaningful strategies for dealing with extreme events, i.e., low probability-high consequence events. We give special attention to economic
sprinklers provide an estimated 75% reduction in death rate within residential structures, they are installed in less than 2% of new U.S. homes. A major impediment is sprinkler system cost, which can be reduced by optimization of the water flux