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Risk and Uncertainty [PDF]

open access: possibleProcedia Economics and Finance, 2012
Many news reports and economic experts talk about uncertainty. But what does the word mean in an economic context? Specifically, what do economists have in mind when they talk about it? In this article, Pablo Guerron-Quintana discusses the concepts of risk and uncertainty, what the difference is between the two terms, and why their presence in the ...
exaly   +1 more source
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Weighing risk and uncertainty.

Psychological Review, 1995
Decision theory distinguishes between risky prospects, where the probabilities associated with the possible outcomes are assumed to be known, and uncertain prospects, where these probabilities are not assumed to be known. Studies of choice between risky prospects have suggested a nonlinear transformation of the probability scale that overweights low ...
Amos Tversky, Craig R. Fox
openaire   +1 more source

Estimates, uncertainty, and risk

IEEE Software, 1997
The authors discuss the sources of uncertainty and risk, their implications for software organizations, and how risk and uncertainty can be managed. Specifically, they assert that uncertainty and risk cannot be managed effectively at the individual project level. These factors must be considered in an organizational context.
Barbara A. Kitchenham   +1 more
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Risk and Uncertainty

Journal of Hospital Marketing & Public Relations, 2010
Volatile business conditions have led to drastic corporate downsizing, meaning organizations are expected to do more with less. Managers must be more knowledgeable and possess a more eclectic myriad of business skills, many of which have not even been seen until recently.
openaire   +3 more sources

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