Entrepreneurial Decision Under Risk and Uncertainty

Cristian Paun

Management Dynamics in the Knowledge Economy, 2013, vol. 1, issue 1, 111-125

Abstract: Entrepreneurial decision is always subject to a significant level of uncertainty. Uncertainty is related to human nature and it is the most significant reason for economic action. This paper explains the most important challenges for economic decisions due to different forms of uncertainty associated to it. The paper highlights why uncertainty is important for economic decision and which are the limits of risk management strategies proposed for dealing with such uncertainty.

Keywords: uncertainty; risk; risk management; entrepreneurial decision; case and class probabilities (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:nup:jrmdke:v:1:y:2013:i:1:p:111-125

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