Abstract
Risk in the broader sense of the word exists when there is uncertainty about the consequences of a decision. Risk in a narrower sense is used when some of these consequences may be unfavourable. The standard for measuring risk must be chosen according to the respective sphere of life, or type of consequences. In economics, the risk is usually measured in terms of costs or losses.
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© 1968 International Economic Association
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UnčOVSKý, L. (1968). Some Problems of Risk in a Socialist Economy. In: Borch, K., Mossin, J. (eds) Risk and Uncertainty. International Economic Association Conference Volumes, Numbers 1–50. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15248-3_16
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DOI: https://doi.org/10.1007/978-1-349-15248-3_16
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-15250-6
Online ISBN: 978-1-349-15248-3
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