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- Risk nature
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- Risk functions
- Characteristics of risk
- Riskology

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Risk nature

The uncertainty nature is formed under the influence of various factors:

  • temporary uncertainty is caused by the fact that it is impossible to within 1 to predict value of this or that factor in the future;
  • uncertainty of exact parameter values of a market system can be characterized as uncertainty of market conditions;
  • unpredictability of behavior of participants in a situation of a conflict of interest also generates uncertainty, etc.

The combination of these factors in practice creates an extensive range of different types of uncertainty. As uncertainty acts as a risk source, it should be minimized, by means of acquisition of information, ideally, trying to bring uncertainty to naught due to obtaining qualitative, reliable, exhaustive information.

There are three main points of view recognizing either subjective, or objective, or the subjestive-objective nature of risk, the last point of view is prevailing.

The risk is connected with the choice of certain alternatives, calculation of probability of their outcome - in this its the subjective party. In addition, the subjective party (the risk nature) is shown also that people unequally perceive the same size of economic risk owing to distinctions of psychological, moral, ideological orientations, installations, etc.

The objective nature of risk causes probabilistic essence of many natural, social and engineering procedures, diversity of the material and ideological relations which objects of social and economic life enter. The objectivity of risk is shown that the concept risk reflects the real-life phenomena in life, processes, aspects of activity. And the risk exists irrespective of whether realize its availability or not, consider or ignore it.

The subjestive-objective nature of risk is defined by the fact that the risk is generated by processes as subjective character, and such which existence does not depend on will and consciousness of the person.