Define the term risk. Discuss various categories of risk. How is valuation of risk made?
Introduction In economics, finance, and insurance, the concept of risk plays a foundational role. Risk refers to the possibility that an outcome or investment will not meet expectations, resulting in a loss or deviation from the anticipated result. Actuarial economics, in particular, involves assessing, pricing, and managing different types of risks. This post explores the […]
Define the term risk. Discuss various categories of risk. How is valuation of risk made? Read More »