General Aspects of Risk and Uncertainty in Making Financial – Economic Decisions

Aurelian Diaconu and Doina Avram
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Aurelian Diaconu: „Artifex”University of Bucharest
Doina Avram: Bucharest University of Economic Studies

Romanian Statistical Review Supplement, 2017, vol. 65, issue 6, 40-50

Abstract: The risk reflects the chance of an unfavorable event with negative consequences for the decision maker. It is influenced by events or phenomena that affect the affairs of commercial companies, the expression of the failure to achieve the intended gain or the loss in economic transactions. When making the financial-economic decision, the decision-maker must take into account the risk of occurrence of events that may have adverse effects on its objectives. In general, the risk is avoided or if it is not possible to try to minimize it or transfer it. This article presents the concept of risk and uncertainty in making financial and economic decisions in the company’s activity, the distinction between the two and the consequences that may arise.

Keywords: Financial – economic decisions; decision maker; risk; uncertainty; decision tree (search for similar items in EconPapers)
JEL-codes: D81 G31 (search for similar items in EconPapers)
Date: 2017
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