Risk: Measurement, Perception, and Management

Peter Zweifel () and Roland Eisen ()
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Peter Zweifel: University of Zurich

Chapter 2 in Insurance Economics, 2012, pp 25-69 from Springer

Abstract: Abstract In ordinary language, “risk” is mainly used in conjunction with “chance”. In Chinese language, “risk” indeed has two characters, one for risk proper, the other for chance. In insurance economics, however, the word has a specific meaning to be defined in Sect. 2.1. Also, the statistical measurement of risk turns out to be an endeavor fraught with difficulties.

Keywords: Risk Aversion; Risk Premium; Stochastic Dominance; Relative Risk Aversion; Initial Wealth (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-3-642-20548-4_2

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