Some Problems of Risk in a Socialist Economy

Ladislav UnčOVSKý

Chapter Chapter 16 in Risk and Uncertainty, 1968, pp 375-382 from Palgrave Macmillan

Abstract: Abstract Risk in the broader sense of the word exists when there is uncertainty about the consequences of a decision. Risk in a narrower sense is used when some of these consequences may be unfavourable. The standard for measuring risk must be chosen according to the respective sphere of life, or type of consequences. In economics, the risk is usually measured in terms of costs or losses.

Date: 1968
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DOI: 10.1007/978-1-349-15248-3_16

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