Abstract

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Risk, Public Perception and Education: Quantitative and Qualitative Risk

Martin Shubik
Yale University - School of Management; Yale University - Cowles Foundation

April 2001

Yale SOM Working Paper No. ES-09

Abstract:
A brief survey of the development of the study of risk and probability is given together with some basic observations on their application to insurance. This is followed with observations on the lack of appreciation of probability studies and an elementary feeling for probability by the public at large and a suggestion that the time is ripe for a new science museum involving basic economics and the exposition of the role of probability in finance.

Key words: Risk, Probability, Insurance

JEL Classifications: D80, G22, I20

Working Paper Series

Date posted: June 05, 2001 ; Last revised: September 12, 2001

Suggested Citation

Shubik, Martin, Risk, Public Perception and Education: Quantitative and Qualitative Risk (April 2001). Yale SOM Working Paper No. ES-09. Available at SSRN: http://ssrn.com/abstract=270853 or doi:10.2139/ssrn.270853

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Contact Information

Martin Shubik (Contact Author) Yale University - School of Management ( email ) Box 208200 New Haven, CT 06520-8200 United States
Yale University - Cowles Foundation ( email ) Box 208281 New Haven, CT 06520-8281 United States 203-432-3694 (Phone) 203-432-6167 (Fax) HOME PAGE: http://cowles.econ.yale.edu/P/au/d_shubik.htm

Abstract

Footnotes (2)

Date posted: June 05, 2001 ; Last revised: September 12, 2001

Suggested Citation

Contact Information

Martin Shubik (Contact Author)