Risk, Public Perception and Education: Quantitative and Qualitative Risk
Yale University - School of Management; Yale University - Cowles Foundation
Yale SOM Working Paper No. ES-09
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
Number of Pages in PDF File: 8
JEL Classification: D80, G22, I20working papers series
Date posted: June 5, 2001
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