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Risk: Measurement, Perception, and Management

  • Peter ZweifelEmail author
  • Roland Eisen
Chapter
  • 4.7k Downloads
Part of the Springer Texts in Business and Economics book series (STBE)

Abstract

In ordinary language, “risk” is mainly used in conjunction with “chance”. In Chinese language, “risk” indeed has two characters, one for risk proper, the other for chance. In insurance economics, however, the word has a specific meaning to be defined in Sect. 2.1. Also, the statistical measurement of risk turns out to be an endeavor fraught with difficulties.

Keywords

Risk Aversion Risk Premium Stochastic Dominance Relative Risk Aversion Initial Wealth 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of ZurichZurichSwitzerland
  2. 2.MunichGermany

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