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Author: Pat O'Malley
Publisher: Routledge
ISBN: 113531179X
Category : Law
Languages : en
Pages : 292
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Book Description
Both risk and uncertainty are neo-liberal concepts, which can be viewed as complementary techniques for governing diverse aspects of life, rather than natural states of things. This new book examines the way these constructs govern the production of wealth through 'uncertain' speculation and 'calculable' investment formulae. The way in which risk and uncertainty govern the minimisation of harms through insurance and through the uncertain practices of 'reasonable foresight' is discussed, and O Malley looks at the way these same techniques were historically forged out of moral and social beliefs about how to govern properly. In addition, the book analyzes is how, during this process, ideas such as 'contract' and distinctions between insurance and gambling were invented to order to 'properly' govern the risky and uncertain future.
Author: Pat O'Malley
Publisher: Routledge
ISBN: 113531179X
Category : Law
Languages : en
Pages : 292
Get Book Here
Book Description
Both risk and uncertainty are neo-liberal concepts, which can be viewed as complementary techniques for governing diverse aspects of life, rather than natural states of things. This new book examines the way these constructs govern the production of wealth through 'uncertain' speculation and 'calculable' investment formulae. The way in which risk and uncertainty govern the minimisation of harms through insurance and through the uncertain practices of 'reasonable foresight' is discussed, and O Malley looks at the way these same techniques were historically forged out of moral and social beliefs about how to govern properly. In addition, the book analyzes is how, during this process, ideas such as 'contract' and distinctions between insurance and gambling were invented to order to 'properly' govern the risky and uncertain future.
Author: Frank H. Knight
Publisher: Cosimo, Inc.
ISBN: 1602060053
Category : Business & Economics
Languages : en
Pages : 401
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Book Description
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author: Sander van der Linden
Publisher: Routledge
ISBN: 1000022927
Category : Business & Economics
Languages : en
Pages : 78
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Book Description
This edited volume looks at whether it is possible to be more transparent about uncertainty in scientific evidence without undermining public understanding and trust. With contributions from leading experts in the field, this book explores the communication of risk and decision-making in an increasingly post-truth world. Drawing on case studies from climate change to genetic testing, the authors argue for better quality evidence synthesis to cut through the noise and highlight the need for more structured public dialogue. For uncertainty in scientific evidence to be communicated effectively, they conclude that trustworthiness is vital: the data and methods underlying statistics must be transparent, valid, and sound, and the numbers need to demonstrate practical utility and add social value to people’s lives. Presenting a conceptual framework to help navigate the reader through the key social and scientific challenges of a post-truth era, this book will be of great relevance to students, scholars, and policy makers with an interest in risk analysis and communication.
Author: National Research Council
Publisher: National Academies Press
ISBN: 030904894X
Category : Science
Languages : en
Pages : 668
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Book Description
The public depends on competent risk assessment from the federal government and the scientific community to grapple with the threat of pollution. When risk reports turn out to be overblownâ€"or when risks are overlookedâ€"public skepticism abounds. This comprehensive and readable book explores how the U.S. Environmental Protection Agency (EPA) can improve its risk assessment practices, with a focus on implementation of the 1990 Clean Air Act Amendments. With a wealth of detailed information, pertinent examples, and revealing analysis, the volume explores the "default option" and other basic concepts. It offers two views of EPA operations: The first examines how EPA currently assesses exposure to hazardous air pollutants, evaluates the toxicity of a substance, and characterizes the risk to the public. The second, more holistic, view explores how EPA can improve in several critical areas of risk assessment by focusing on cross-cutting themes and incorporating more scientific judgment. This comprehensive volume will be important to the EPA and other agencies, risk managers, environmental advocates, scientists, faculty, students, and concerned individuals.
Author: Kent Osband
Publisher: Columbia University Press
ISBN: 0231151721
Category : Business & Economics
Languages : en
Pages : 306
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Book Description
Author of the acclaimed work Iceberg Risk: An Adventure in Portfolio Theory, Kent Osband argues that uncertainty is central rather than marginal to finance. Markets don't trade mainly on changes in risk. They trade on changes in beliefs about risk, and in the process, markets unite, stretch, and occasionally defy beliefs. Recognizing this truth would make a world of difference in investing. Belittling uncertainty has created a rift between financial theory and practice and within finance theory itself, misguiding regulation and stoking huge financial imbalances. Sparking a revolution in the mindset of the investment professional, Osband recasts the market as a learning machine rather than a knowledge machine. The market continually errs, corrects itself, and makes new errors. Respecting that process, without idolizing it, will promote wiser investment, trading, and regulation. With uncertainty embedded at its core, Osband's rational approach points to a finance theory worthy of twenty-first-century investing.
Author: Gerd Gigerenzer
Publisher: Penguin UK
ISBN: 0140297863
Category : Education
Languages : en
Pages : 239
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Book Description
Are ordinary people able to reason with risk? Detailing case histories and examples, this text presents readers with tools for understanding statistics. In so doing, it encourages us to overcome our innumeracy and empowers us to take responsibility for our own choices.
Author: Torben Juul Andersen
Publisher: Routledge
ISBN: 1000028860
Category : Business & Economics
Languages : en
Pages : 134
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Book Description
Modern risk management as practiced today faces significant obstacles—we argue—primarily due to the fundamental premise of the concept itself. It asserts that we are mainly dealing with measurable, quantifiable risks and that we can manage the uncontrollable by relying on formal control-based systems, which has produced a general view that (enterprise) risk management is a technical-scientific discipline. Strategic Risk Leadership offers a critique of the status quo, and encourages leaders, executives, and chief risk officers to find fresh approaches that can help them deal more proactively with what the future may hold. The book provides an overview of the history of risk management and current risk governance approaches as prescribed by leading risk management standards, such as COSO and ISO31000. This enables practitioners to challenge the frameworks and improve their adoption in practice introducing sustainable resilience as a (more) meaningful response to uncertain and unknowable conditions. The book shows how traditional thinking downplays the significance of human behavior and judgmental biases as key elements of major organizational exposures illustrated and explained through numerous case examples and studies. This book is essential reading for strategic risk managers to understand the requirements for effective risk governance practices in the contemporary and rapidly changing global risk landscape. Indeed, it is a valuable resource for all risk executives, leaders, and chief risk officers, as well as advanced students of risk management.
Author: Behl, Abhishek
Publisher: IGI Global
ISBN: 1522572090
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
Risks and uncertainties?market, financial, operational, social, humanitarian, environmental, and institutional?are the inherent realities of the modern world. Stock market crashes, demonetization of currency, and climate change constitute just a few examples that can adversely impact financial institutions across the globe. To mitigate these risks and avoid a financial crisis, a better understanding of how the economy responds to uncertainties is needed. Maintaining Financial Stability in Times of Risk and Uncertainty is an essential reference source that discusses how risks and uncertainties affect the financial stability and security of individuals and institutions, as well as probable solutions to mitigate risk and achieve financial resilience under uncertainty. Featuring research on topics such as financial fraud, insurance ombudsman, and Knightian uncertainty, this book is developed for researchers, academicians, policymakers, students, and scholars.
Author: Jeffrey A. Friedman
Publisher: Oxford University Press
ISBN: 019093803X
Category : Political Science
Languages : en
Pages : 241
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Book Description
Uncertainty surrounds every major decision in international politics. Yet there is almost always room for reasonable people to disagree about what that uncertainty entails. No one can reliably predict the outbreak of armed conflict, forecast economic recessions, anticipate terrorist attacks, or estimate the countless other risks that shape foreign policy choices. Many scholars and practitioners therefore believe that it is better to keep foreign policy debates focused on the facts - that it is, at best, a waste of time to debate uncertain judgments that will often prove to be wrong. In War and Chance, Jeffrey A. Friedman shows how foreign policy officials often try to avoid the challenge of assessing uncertainty, and argues that this behavior undermines high-stakes decision making. Drawing on an innovative combination of historical and experimental evidence, he explains how foreign policy analysts can assess uncertainty in a manner that is theoretically coherent, empirically meaningful, politically defensible, practically useful, and sometimes logically necessary for making sound choices. Each of these claims contradicts widespread skepticism about the value of probabilistic reasoning in international politics, and shows how placing greater emphasis on assessing uncertainty can improve nearly any foreign policy debate. A clear-eyed examination of the logic, psychology, and politics of assessing uncertainty, War and Chance provides scholars and practitioners with new foundations for understanding one of the most controversial elements of foreign policy discourse.
Author: Patrick M. Emerson
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
