PARTICULARS OF TREATMENT OF EXTREMELY ASYMMETRIC RISK

Stelian Stancu (), Ion Gh. Rosca (), Gabriela Prelipcean () and Mariana Lupan
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Ion Gh. Rosca: Academy of Economic Studied, Bucharest
Gabriela Prelipcean: “Stefan cel Mare” University,Suceava

Romanian Journal of Economics, 2011, vol. 33, issue 2(bis)(42), 5-15

Abstract: The Society perceives the dangers as threats, challenges and risks. Risk is defined as direct and assumed threat. Most of all, the highest risks in modern society are likely asymmetric.They include the whole sphere of human activity and they are accompanying man in almost everything he does. As long as the world is diversifying and is ranking, the more numerous and more acute become asymmetric threats.Because asymmetry is difference, meaning the possibility to act differently and to react differently, in order to capture, destroy, win strategic initiative and freedom of action and, therefore, to defeat. We present a series of theoretical issues related to risk analysis and risk analysis techniques: scenario technique and probability-impact matrix technique. In the second part of the paper an analysis of critical infrastructure and types of asymmetric risks are presented. The third part of the paper presents a study of portfolio risk using GARCH models (1.1),considering the daily returns of RASDAQ-C and BET indexes and the RON / USD exchange rate, and also an analyses of the achieved results will be considered.

Keywords: dangers; threats; vulnerabilities; risks; critical infrastructures; risk evaluation; extreme risk; asymmetric risk (search for similar items in EconPapers)
JEL-codes: D53 D81 G32 J10 P28 (search for similar items in EconPapers)
Date: 2011
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