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Risk, Public Perception and Education: Quantitative and Qualitative Risk

Martin Shubik

Yale School of Management Working Papers from Yale School of Management

Abstract: A brief survey of the development of the study of risk and probability is given together with some basic observations on their application to insurance. This is followed with observations on the lack of appreciation of probability studies and an elementary feeling for probability by the public at large and a suggestion that the time is ripe for a new science museum involving basic economics and the exposition of the role of probability in finance.

Keywords: Risk; Probability; Insurance (search for similar items in EconPapers)
JEL-codes: G22 I20 D80 (search for similar items in EconPapers)
Date: 2001-06-05
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Persistent link: https://EconPapers.repec.org/RePEc:ysm:somwrk:ysm190

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