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Entrepreneurial Decision Under Risk and Uncertainty

Cristian Paun ()

Management Dynamics in the Knowledge Economy Journal, 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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Management Dynamics in the Knowledge Economy Journal is currently edited by Contantin BRATIANU, Florina PINZARU and Alexandra ZBUCHEA

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Handle: RePEc:nup:jrmdke:v:1:y:2013:i:1:p:111-125