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This lecture covers the concepts of risk assessment, vulnerability calculation, risk mitigation, and risk perception. It explores the historical development of risk perception, recent trends in risk acceptance, and factors influencing the perception of risks. The instructor discusses the cultural, psychological, and economic dimensions that shape our understanding of risks, as well as the societal impact of disasters. The lecture also delves into the notion of acceptable risk, highlighting how individual values and societal norms influence risk acceptance. Various case studies and surveys are presented to illustrate how different groups perceive and accept risks in society.