Abstract
As the English economist John Kay described in an interview with Zeit, a fundamental examination of the concept of risk in the modern financial and insurance world is indispensable. Unfortunately, the concept of ‘radical uncertainty’, grounding on a non-stationary environment in economics and social sciences, must be admitted. The economic and financial crisis in 2008 and 2010 (Greek government-debt crisis) made unmistakably clear that a profound understanding of risk and thus models for measuring risk are of extreme importance.
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T. Fischermann. Chance oder Risiko? Die Zeit, Vol. 31, 2019.
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Klein, M. (2024). Introduction. In: Nested Simulations: Theory and Application. Mathematische Optimierung und Wirtschaftsmathematik | Mathematical Optimization and Economathematics. Springer Spektrum, Wiesbaden. https://doi.org/10.1007/978-3-658-43853-1_1
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DOI: https://doi.org/10.1007/978-3-658-43853-1_1
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