Economic downturns will happen. That's why you need to prepare for them.

Decision making under risk and uncertainty encompasses a broad spectrum of theoretical and empirical approaches aimed at understanding how individuals evaluate probabilistic outcomes under various ...

George Stigler’s 1971 paper “The Theory of Economic Regulation,” stands as an important piece of economic research. While most of the profession was convinced regulation advanced the overall public ...

"A ship is safe in harbor, but that's not what ships are for." –William G.T. Shedd Source: IMPhoto1/Shutterstock Life presents us with defining moments—opportunities to step forward into the unknown ...

In one research study, participants were given a choice: Either they could pay $38 to guarantee they would get a $50 gift certificate, or they could pay $28 to enter a lottery for a chance to win ...

Focused doubtful mature businessman reading contract document thinking considering risks with professional lawyers legal experts executive team analyzing financial report sitting at office table.

This is a preview. Log in through your library . Abstract This contribution evokes Orio Giarini’s courage to think ‘outside the box’. It proposes a practical way to bridge the gap between risk (where ...

Risk management practice, on which current AI governance and regulation are based, differs substantially from managing in the face of uncertainty. Generative pretrained AI applications are complex and ...

Discover what Gharar means in Islamic finance, why it's forbidden, and explore examples of risky transactions and the impact on ethical business practices.

Risk aversion is a fundamental trait shaping how individuals, firms and policymakers respond to uncertain outcomes. It encapsulates the preference for certain outcomes over gambles with equivalent ...