Risk in the economic science

In the management economics risks are quantified as "“ventures"” (and are then "“calculatory costs"”), chances as use calculations.

Risk in the economy designates uncertainty in the sense of the deviations, which can be both positive and negative in relation to the respective base factor.

• Risks the decision time ago (width unit)
  • Decision risk
    • computingeconomic risks
    • The decisions are made under uncertainty. One makes a decision in width unit, whereby deviations from the expectancy value of the result are possible.
  • Result risk: Risk in the sense of a result uncertainty as consequence of a risk-connected decision situation
  • Risk that another decision would have been more favorable.
• Risks after the decision time
  • Action risks
  • Flat and discrepancy risk
  • Connection risk
• Risks, which exist at all times
  • Existence risk

Risk management

One can itself against economic risks (in the management economics: "“Ventures"”) also insure (insurance). By risk management one understands well-planned handling risks.

The risk can be minimized, if one keeps certain conditions, for example the industrial safety, prescribed safety precautions, material properties, maximum speeds. In addition one can minimize the risk of a loss by suitable resources distribution. (Example: If distributed share funds minimize the risk of the total loss, in addition, reduce the probability of a maximum gain. Memory for food reduces the probability of food bottlenecks, saves however the danger of a loss by parasits at the camps in a friendly way does.)

see also Diversifikation#Anlagediversifikation, moral Hazard, Adverse Selection, risk aversion

Risk in philosophy

"“Hazard"” as condition for liberty

In accordance with the English mathematician and philosopher John G. Bennett makes only the possibility of the failure the things real. Whether one plays or tries a play, to improve its life and its quality - the existing risk is "“the victim"”, whom one must give, over "“in the play to remain"”. Only under conditions, which contain hazard, one can be "“free"”. All things, which we regard as valuable, like friendship, beauty and love, are impossible without hazard. That is like that, because the universe is so constituted. That is not a bare human deviation, and there is no perfect condition, which from this interaction of uncertainty and will would be free.

Literature

Books

• Bennett, John Godolphin: Risk and liberty. Hazard - the venture of the implementation ISBN 3-905272-70-9, Zurich, 2005
• Amber, Peter L.: Against the Gods - the history of risk and risk management from the antique one to today. Munich: Gerling academy publishing house 1997, 475 S.
• DeMarco, Lister: ISBN 3-446-22333-9
• Upper Meier, petrol Peter: The art of risk communication. Munich 1999, 211 S.
• Proske, Dirk: Catalog of the risks - risks and their representation. ISBN 3-00-014396-3, Dresden, 2004
• Romeike/Finke (Hrsg.): Success factor risk management ISBN 3-409-12200-1
• Mathias (Hrsg.): Risk and venture. The challenge of the industriellen world. Bd. 1 and 2, Pfullingen 1990, 753 S.
• Mathias: Values - risk - responsibility. Dimensions of the VALUE management. Munich 1999, 213 S.
• Keitsch, Detlef: "“Risk management"”, ISBN 3-7910-2295-4, Stuttgart 2004

Essays

• Niels Gottschalk Mazouz (2002): Risk, in: M. C. M. Werner (Hg.): Manual ethics. Stuttgart: Metzler publishing house, P. 485-491 pdf
• Ortwin run: Fundamental possibilities for the and risk evaluation. Dangerous materials - keeping clean air 65 (9), P. 383 - 386 (2005), ISSN 0949-8036
• Shopkeeper, walter, Professor Dr.: Hysteria as location disadvantage, or: Germany, a republic of the panic Lecture on risk perception on the annual convention nuclear technology 2005, atw - international magazine for nuclear energy, L/3 - October 2005, P. 570 - 575, ISSN 1431-5254

Downloads

• Sitt: Dynamic risk management ISBN 3-8244-0734-5, Download
• Punch, Mehlau, heel mountain, game: Risk management in financial system and industry, Download
• Vest: Knowledge risks - risks from view of the knowledge management,
• Shopkeeper, walter, Professor Dr.: Hysteria as location disadvantage, or: Germany, a republic of the panic (Material Player video, DSL, approx. 134 MT/Modem/ISDN, approx. 10MB), lecture on risk perception on the annual convention nuclear technology 2005

See also

• Chance, danger, disaster, SWOT analysis, disaster sociology, risk company, risk research, risk types, reinsurance, insurance, costs, Irgc, decision under uncertainty, Risky SHIFT

Related links

• RiskNET extensive risk management Web portal

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