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Insurance Economics is a research programme set up by the Geneva Association, also known as the International Association for the Study of Insurance Economics.. It is dedicated to making an original contribution to the progress of insurance through promoting studies of the interdependence between economics and insurance, to highlight the importance of risk and insurance economics as part of ...
Factors of risk perceptions. Risk perception is the subjective judgement that people make about the characteristics and severity of a risk. [1] [2] [3] Risk perceptions often differ from statistical assessments of risk since they are affected by a wide range of affective (emotions, feelings, moods, etc.), cognitive (gravity of events, media coverage, risk-mitigating measures, etc.), contextual ...
[1] [2] See Finance § Risk management for an overview. Financial risk management as a "science" can be said to have been born [3] with modern portfolio theory, particularly as initiated by Professor Harry Markowitz in 1952 with his article, "Portfolio Selection"; [4] see Mathematical finance § Risk and portfolio management: the P world.
Financial risk modeling is the use of formal mathematical and econometric techniques to measure, monitor and control the market risk, credit risk, and operational risk on a firm's balance sheet, on a bank's accounting ledger of tradeable financial assets, or of a fund manager's portfolio value; see Financial risk management.
Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. [ 1 ] [ 2 ] Often it is understood to include only downside risk , meaning the potential for financial loss and uncertainty about its extent.
[23] [24] At the same time cultural theory, by asserting the orienting role of values, explains how the mechanisms featured in the psychometric paradigm can result in differences in risk perception among persons who hold different values. The interrelationship between individual values and perceptions of risk also calls into doubt the depiction ...
Age difference factors are particularly important when considering health care [12] [13] [14] and financial decisions. The susceptibility to framing can influence how older individuals perceive and in turn respond to information, potentially leading to less optimal choices that can have lasting consequences.
[1] [2] A risk factor is a concept in finance theory such as the capital asset pricing model, arbitrage pricing theory and other theories that use pricing kernels. In these models, the rate of return of an asset ( hence the converse its price ) is a random variable whose realization in any time period is a linear combination of other random ...