Abstract
The notion of risk is linked to the idea of potential damage. So there are of course many kinds of risks. In the financial world the most important are: the default risk, the liquidity risk and the market risk. The default risk is the impossibility of a debtholder to keep his engagement. The liquidity risk is the temporary inability to get money from immobilizations. The market risk is the possibility to face losses, to miss opportunities or even to make profits from very fluctuating prices or rates in financial markets. So this last kind of risk is intrinsically associated with time and it is only this type of risk that we consider in this paper. Financial markets, lato sensu, are the very places where risk, time and financial decision meet.
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© 1994 Springer Science+Business Media Dordrecht
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Quittard-Pinon, F., Sikorav, J. (1994). Risk, Time, and Financial Decision. In: Munier, B., Machina, M.J. (eds) Models and Experiments in Risk and Rationality. Theory and Decision Library, vol 29. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-2298-8_16
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DOI: https://doi.org/10.1007/978-94-017-2298-8_16
Publisher Name: Springer, Dordrecht
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